Growth in the first half for Wolverine, despite June headwinds
10/08/2022
Outdoor footwear group Wolverine Worldwide has reported revenues of $1.3 billion for the first half of 2022, up by 16.3% year on year.
It said there had been a slowdown in June shipments, but that the second quarter had still been strong, with double-digit growth for its largest brand, Merrell.
“We faced unplanned headwinds related to elevated customer inventory, a stronger US dollar, and some lingering supply chain delays,” said chief executive, Brendan Hoffman, “but our operating margin was better than expected in the quarter.”
He said the group expected “growth acceleration” in the second half of the year.
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