Wolverine closes 180 stores to boost margins
10/05/2017
"The transformation of our business is well under way with our strategy focused on elevating our most powerful brands with consumers, delivering continuous product innovation and sustained organic growth, and unlocking incremental operational efficiencies, with an emphasis on pace and speed,” he said.
The group has closed 180 stores since the beginning of the year, with 63 more planned in the coming months.
Reported revenue of $591.3 million decreased 4.8% for the quarter ended April 1, after taking into account the impact of the additional week of operations in the first quarter of fiscal 2017.
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