85
Fashion Jobs
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
Published
May 9, 2019
Reading time
2 minutes
Download
Download the article
Print
Text size

Wolverine Worldwide sees dip in revenue and earnings

Published
May 9, 2019

Rockford, Michigan-based footwear manufacturer Wolverine World Wide, Inc. (Wolverine Worldwide) reported decreases in its first-quarter revenues and earnings on Thursday, providing updates on its latest strategic investments and reaffirming its full-year outlook.


Wolverine Worldwide's portfolio includes Wolverine, Sperry, Merrell and Saucony, among other brands - Instagram: @wolverineboots

 
For the first quarter ended March 30, 2019, the company announced net revenue of $523.4 million, down 2.0% from $534.1 million in the prior-year period. On a constant currency basis, the decline was 0.9%.
 
Quarterly net earnings attributable to Wolverine also fell, totaling $40.5 million ($0.43 per diluted share), compared to $46.7 million ($0.48 per diluted share) in Q1 2018.

Despite these slipping figures, Wolverine Worldwide Chairman, President and CEO Blake Krueger was optimistic about the company’s results.
 
“We are pleased to report first quarter earnings per share which exceeded our expectations,” he said in a release, pointing out that four of the company’s top-five brands, including Merrell and Saucony, had posted higher than expected revenues.
 
The CEO also highlighted Wolverine Worldwide’s owned e-commerce business as a particular bright spot, having posted revenue growth of 28% year over year. He did, however, admit that the Sperry brand had struggled in the quarter.
 
“We expect revenue growth to resume in the second quarter and accelerate during the second half of the year as we continue to invest in a variety of initiatives to drive topline growth and attractive earnings leverage,” added Krueger.
 
With these forecasts in mind, Wolverine Worldwide reaffirmed its full-year 2019 outlook for revenues, which are still expected to be between $2.28 billion and $2.33 billion, representing growth of 3.0% at the mid-point of the range. Annual diluted earnings per share are now expected to be in the range of $2.00 to $2.15.
 
The company is currently investing heavily in international expansion, having recently embarked on a joint venture with Chinese sportswear retailer Xtep International to develop, market and distribute Merrell and Saucony products in mainland China, Hong Kong and Macau.
 
The footwear manufacturer is also acquiring one of the key distributers of its Saucony brand in Europe, in an effort to drive expansion efforts in the region, and is investing in a number of new Sperry and Merrell outlet locations.
 
“Our diversified portfolio was an asset during the quarter as several brands experienced attractive revenue growth, which helped to offset the macro headwinds faced in other parts of the business,” explained VP and CFO Mike Stornant. “We remain committed to making key investments to drive revenue growth as part of our Global Growth Agenda.”

Copyright © 2024 FashionNetwork.com All rights reserved.