Wolverine Worldwide Strives for Simplicity
The Merrell and Saucony parent is now about half way through a 100-day plan announced at the end of Nov. aimed at addressing short term inventory problems and taking initial steps toward simplifying the business by divesting Keds and Wolverine Leathers. In a round table discussion at the ICR Conference, WWW said inventory clearance is about $30 million ahead of plan and it has made progress reducing gridlock in its warehouses that were overwhelmed with the excess stocks. Needed layoffs, mostly related to the held-for-sale businesses, were completed last month. The fourth priority, refocusing on strategies for its faster-growing Merrell, ... Log in to view full article.