Wolverine posts Q1 fall but says its measures are working

03/05/2016
Outdoor footwear group Wolverine World Wide has reported revenues of $577.6 million for the first quarter of 2016, a decline of 8.5% compared to the same quarter last year.

Chief executive, Blake Krueger, said this figure exceeded the group’s expectations and that Wolverine is well positioned to achieve its full-year objectives for 2016.

“The actions we have taken over the past several quarters, particularly reorganising our brand groups, adjusting our store fleet to address changing consumer preferences and assigning new leadership to key strategic initiatives, have gained traction and are already having a positive impact,” Mr Krueger said.