In reporting a net loss of $1.6 million against income of $40.2 million with a sales decline of 39% to $349.1 million from $568.6 million for the second quarter ended Jun. 27, Wolverine Worldwide said it saw relatively better performance from performance brands like Saucony and Merrell as well as work brands like Caterpillar and Wolverine while casual brands like Sperry and Keds lagged. Those trends are holding up in Q3 so far and are expected to sustain through the balance of the FY when it expects sales to fall around 25%.

Performance brands have seen consumer behavior provide a tailwind ... Log in to view full article.