Boot of Wolverine owned brand Merrell
19 Apr. 2013
Wolverine Reports Record Q1 ResultsMichigan-based footwear and apparel giant Wolverine Worldwide broke company records in the first quarter ended March 23, 2013, the first period that included a full quarter of results from the brands Sperry Top-Sider, Saucony, Stride Rite and Keds, all of which it acquired in October 2012.
The quarter’s revenue was $645.9 million, which is an increase of 100.1% compared to last year’s. The company cited Sperry Top-Sider, Merrell and Saucony as being especially good revenue generators in the period.
“We are exceptionally pleased to be off to such a strong start in 2013, particularly as this represents the first full fiscal quarter that includes our four new lifestyle brands," said Blake W. Krueger, Chairman and Chief Executive Officer. “As we anticipated, the addition of Sperry Top-Sider, Saucony, Stride Rite and Keds has made our brand offerings even stronger and we are already seeing very positive reactions to the broader portfolio from key retail and global distributor partners.”
He added: "The U.S. market was a key component of the Company's overperformance in the quarter. As expected, challenging conditions in Europe continue, but the resiliency of the global consumer, the strength of our international business, and standout performances from brands like Sperry Top-Sider and Merrell combined to more than offset these challenges."
Wolverine Worldwide is a publicly traded company that is listed on the NYSE.
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