Net earnings attributable to shareholders nearly tripled to $23.6 million in the third quarter ended Sep. 28 from $8.6 million last year, on 17% lower revenues of $440.2 million against $527.7 million, with both top- and bottom-lines exceeding its forecast. Excluding the divested Sperry and Wolverine Leathers businesses, revenue from continuing operations declined 7%. Ongoing direct-to-consumer sales inched down 2% to $112.3 million, and international was also off 2% to $213.8 million.

Active group sales slipped 3% to $318.7 million, helped by Merrell’s return to growth in Q3, improving more than 1% ... Log in to view full article.