Wolverine Q2 Driven by Saucony, Merrell
Net income was $44.7 million in the second quarter against a loss of $1.6 million last year, on revenues that rebounded 81% to $631.9 million from $349.1 million, with both top and bottom lines up 11% from Q2 ‘19. Merrell and Saucony more than doubled combined revenue year-over-year and grew more than 40% versus 2019, as WWW’s strategic restructuring shifted revenue to hot categories. Two-thirds of revenue now comes from performance hiking, running, and work footwear, all of which have participation tailwinds. Direct-to-consumer increased 18% and was up 69% from 2019, but brick-and-mortar posted a huge 381% rebound against last ... Log in to view full article.