Two brands make Wolverine optimistic about 2021
Outdoor footwear group Wolverine has reported revenues of more than $1.1 billion for the first six months of the year, an increase of 45% compared to the same period a year ago. The group said it was “bullish about the future”.
Two of its brands, Merrell and Saucony, achieved all-time record revenues for the second quarter, helping to boost the group’s total income. Outgoing chief executive, Blake Krueger, said that these two brands, combined, had achieved twice as much revenue in the second quarter of 2021 as they had in the same period in 2020, and 40% more than in the same quarter in 2019.
He said two-thirds of revenues were coming from on-trend categories, which he listed as running, hiking and work.
“We are planning for sustained accelerated growth over the longer-term,” Mr Krueger said.
