Wolverine Worldwide Raises Guidance as Momentum Builds
Net income attributable to shareholders lifted 16% in the second quarter to $31.2 million from $26.8 million, on 7% revenue growth to $506.4 million from $474.2 million, led by double-digit gains at Saucony and Merrell. International continues to outperform, growing 11% (+10% CC) to $277.2 million, with notable gains for Saucony in EMEA. Direct-to-consumer sales were flat at $111.7 million, as a planned pull-back at Merrell offset Saucony’s gains.
Active Group sales increased 9% to $388.4 million with both Saucony and Merrell gaining momentum from WWW’s key city strategy and event and ... Log in to view full article.