Outdoor footwear group Wolverine World Wide has reported revenues of almost $2.7 billion for 2015, a decline of 2.5% compared to the previous year.

It said the main reasons were the impact of foreign exchange, retail store closures and its exit from making footwear for Patagonia during the year. It will also cease making footwear for Cushe in the course of 2016.

"Looking back on the full year, we made significant progress against our strategic priorities, including investing in global organic growth for our key brands and e-commerce," said the group's chief executive, Blake Krueger, on announcing the results. 

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