Wolverine Worldwide: operating profit up nearly 20%
The parent company of Sperry Top Sider, Keds, and Merrell, among others, announced that it experienced double-digit growth for 9 out of its 16 brands. CEO Blake W. Krueger explained: "The two most important brands, Merrell and Sperry, saw respective growth close to 5% for the former and around 10% for the latter."
The group also announced double-digit growth for its operating profit. It reached $230 million, an increase of nearly 20%. Net income, meanwhile, went from 100 to 133 million.
For its 2015 fiscal year, the group expects a turnover of between 2.82 and 2.87 billion dollars. The group announced a plan to invest 28 million dollars over the course of the year. It expects to see its operating margin, on the other hand, fall to 7.5% as compared with 8.3% in 2014.
$1 = £0.65
Copyright © 2023 FashionNetwork.com All rights reserved.