Patagonia
Patagonia
 

16 Jul. 2010

WOLVERINE WORLD WIDE POSTS RECORD Q2 EPS

Rockford, Michigan-based outdoor and active footwear and apparel group maker Wolverine World Wide, Inc. said second quarter net earnings rose to $17.2 million, or $0.35 per share, from $7.9 million, or $0.16 per share, a year ago, as revenue rose 4.8% to $258.2 million in the quarter. Excluding $2.7 million in restructuring charges, the company earned $0.39 per share. "The momentum in our business this year continued into the second quarter with very solid growth in both revenue and earnings," said Blake W. Krueger, Chairman and Chief Executive Officer. "Our strong financial results were well balanced across our portfolio, with all four major branded operating groups contributing to the outstanding earnings performance. Our retail and e-commerce businesses also delivered impressive results." Based on results, the company increased its full-year revenue outlook to a range of $1.19 billion to $1.22 billion, up 8.1% to 10.8% from the year before. The company's brands include Bates, Chaco, Cushe, Hush Puppies, HYTEST, Merrell, Sebago Soft Style and Wolverine.  With distribution in 180 countries and territories, it also is the exclusive footwear licensee of brands such as CAT, Harley-Davidson and Patagonia.
Tim Yap

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