Merrell and Saucony help Wolverine offset ‘unforeseen challenges’ at Sperry
10/05/2019
Mr Krueger said four of Wolverine’s top-five brands had delivered revenue “above plan” during the quarter, including Merrell and Saucony. He added that the group’s e-commerce business increased its sales revenues by 28%.
These contributions helped offset what he called “some unforeseen challenges” at another of the group’s footwear brands, Sperry. He added: “We expect revenue growth to resume in the second quarter and accelerate during the second half of the year as we continue to invest in a variety of initiatives to drive topline growth.”
Initiatives the group has already announced include a joint venture agreement with Chinese sportswear retailer Xtep to develop, market and distribute Merrell and Saucony footwear in China.
Wolverine is also preparing to acquire one of its key Saucony footwear distributors in Europe to grow its market presence there.
Image: Saucony.
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