Wolverine World Wide posts record results

18/04/2007

US producer of casual, work, outdoor sport and uniform footwear and apparel Wolverine World Wide, Inc. has reported record revenue for the first quarter of 2007 ended March 24. Revenue increased 6.9% to reach $281.1 million, compared with $262.8 million in the comparable period a year earlier.

According to Blake Krueger, president and COO, three of the company’s four major branded operating groups contributed to the revenue increase, with both the Outdoor Footwear Group and the Heritage Brands Group posting double-digit gains. Hush Puppies reported low-single-digit revenue gain, while the Wolverine Footwear Group was negatively impacted due to a planned decrease in its military contract business.

The company's brands include Bates, Hush Puppies, Hytes, Merrell, Sebago and Wolverine. It also holds exclusive footwear licences for brands such as Cat, Harley-Davidson and Patagonia.