Positive Q3 results at Wolverine
US-based casual, active lifestyle, work, outdoor sport and uniform footwear marketer Wolverine World Wide, Inc. has reported record revenue and earnings for its third quarter.
Third quarter revenue totalled $298.9 million, a 7.1% increase over third quarter 2005 revenue of $279.1 million.
For the first three quarters of 2006, revenue reached $800.2 million, an 8% gain over the $740 million reported for the first three quarters of 2005.
According to chairman and CEO, Timothy O'Donovan, three of the company’s four major operating groups¾the Hush Puppies Company, the Heritage Brands Group and the Outdoor Group¾posted increased revenue in the quarter. The Wolverine Footwear Group experienced a decline, which was said to be principally due to a planned reduction in the Bates military business.
International businesses contributed significantly to the quarter's revenue increase, particularly in Europe, where the Caterpillar, Hush Puppies, Merrell, and Sebago brands all posted revenue gains.