Tough end to 2016 for Wolverine - sportstextiles: Lea SportsTextiles

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Tough end to 2016 for Wolverine

24/02/2017
Outdoor footwear group Wolverine suffered a net loss of $1.9 million during the fourth quarter of 2016. This came after revenue in the period dropped 2.9% year-on-year to $729.6 million.

For the whole of 2016, the group achieved revenue of $2.5 billion, down 7.3% on the previous year. 
“Revenue finished in line with our original outlook entering the year, and we delivered solid adjusted earnings,” said Blake Krueger, CEO and president of Wolverine. 

“Our diverse portfolio of global brands, exceptional operating platform, and strong business model continue to fuel a powerful earnings engine, even when faced with the current retail environment,” he added. 

Wolverine’s portfolio of brands includes Merrell, Sperry, Hush Puppies and Sebago.

Related stories:

Wolverine restructuring is in full swing 11/08/2017
Wolverine looks to grow children’s business 02/06/2017
Wolverine closes 180 stores to boost margins 10/05/2017
Wolverine snaps up industry veteran 09/02/2017
Wolverine to strengthen product innovation 18/10/2016
Wolverine starts expansion project at Michigan factory 13/10/2016
Wolverine prepares for military contracts 06/09/2016
Wolverine names new president for its Heritage group of brands 03/08/2016
Revenues down at Wolverine World Wide 26/07/2016
Wolverine restructures its brands 05/02/2016

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