×
6 670
Fashion Jobs
ESTEE LAUDER
Clinique - Consultant - Selfridges, Birmingham - 15 Hours - Part Time, Permanent
Permanent · Birmingham
VIVIENNE WESTWOOD
Warehouse Operative
Permanent ·
SUPERDRY
in-Store Visual Manager
Permanent · LEEDS
SUPERDRY
Product Owner - Wholesale (B2B) Systems
Permanent · CHELTENHAM
SELFRIDGES
Creative Traffic Manager
Permanent · LONDON
SELFRIDGES
Loss Prevention Specialist
Permanent · BIRMINGHAM
IZIPIZI
Sales Supervisor
Permanent · LONDON
SUPERDRY
Wholesale Finance Analyst
Permanent · CHELTENHAM
ZARA HOME
Zara Home White City - General Manager (Maternity Cover)
Permanent · LONDON
ZARA
Zara Windsor- General Manager (Maternity Cover)
Permanent · WINDSOR
PULL AND BEAR
Pull & Bear Manchester - General Manager
Permanent · MANCHESTER
SELFRIDGES
CRM Manager
Permanent · LONDON
NEXT
Delivery Manager - Enfield Retail Park
Permanent · ENFIELD
NEXT
Sales Manager - Craigavon
Permanent · CRAIGAVON
NEXT
Sales Manager - Milton Keynes Beauty
Permanent · MILTON KEYNES
NEXT
Sales Manager - Milton Keynes Beauty
Permanent · MILTON KEYNES
NEXT
Sales Manager - Milton Keynes Beauty
Permanent · MILTON KEYNES
NEXT
Stock Coordinator - mk 1 Milton Keynes
Permanent · MILTON KEYNES
NEXT
Sales Manager - Ilford The Exchange
Permanent · ILFORD
NEXT
Sales Coordinator - Newcastle Eldon Square
Permanent · NEWCASTLE UPON TYNE
NEXT
Sales Manager - Northampton Riverside
Permanent · NORTHAMPTON
SHISEIDO
Nars Account Manager - House of Fraser Rushden Lakes (37.5 Hours)
Permanent · Rushden
Published
Feb 26, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Wolverine Worldwide posts quarterly loss of $171 million

Published
Feb 26, 2021

Rockford, Michigan-based outdoor and active apparel and footwear company Wolverine World Wide, Inc. (Wolverine Worldwide) reported a Q4 net loss of $170.7 million, or $2.10 per diluted share, on Thursday, compared to a loss of $900,000, or $0.01 per diluted share, in the same period in the previous year.


Wolverine Worldwide highlighted strong e-commerce gains amidst overall revenue declines - Instagram: @saucony


For the fourth quarter ended January 2, 2021, the group, which owns brands including Wolverine, Saucony, Merrell, Sperry and Hush Puppies, posted total revenue of $509.6 million, down 16.1% from $607.4 million in the prior-year period.
 
Wolverine Worldwide did, however, highlight that its owned e-commerce channel saw quarterly revenue growth of 31.7% versus the prior year. According to the company, it plans to make further investments in digital in 2021, with an aim of achieving an annual revenue increase of 40% in the channel.

In 2020, Wolverine Worldwide’s full-year e-commerce sales increased 49.9%, but overall the company’s annual revenues dropped 21.2% to $1.8 billion, compared to $2.3 billion in 2019. Full-year net loss was $136.9 million, or $1.70 per diluted share, down from net earnings of $128.9 million, or $1.44 per diluted share, in the previous year.
 
“The company delivered better-than-expected results for the fourth quarter and is poised to drive an accelerated recovery over the next twelve to eighteen months,” commented Wolverine Worldwide chairman and CEO Blake W. Krueger in a release. “During a year of unprecedented challenges, we took action focused on the rapidly changing consumer landscape.”
 
“Our team executed on key profit and liquidity priorities that were identified at the onset of the pandemic, resulting in annual operating cash flow of $309 million and $1.1 billion of total liquidity at year-end,” explained SVP and CFO Mike Stornant.
 
Looking forward, aside from its planned investments in e-commerce, the company said that its Merrell, Saucony, Sperry, and Wolverine brands all have important new product launches scheduled for 2021.
 
Wolverine Worldwide expects annual revenues to total between $2.19 billion and $2.25 billion in 2021, representing year-over-year growth in the range of 22% to 26%. The company also hopes to post full-year e-commerce revenue of $500 million, more than double the figure reported in 2019.
 
Diluted earnings per share are expected to be between $1.75 and $1.90.

Copyright © 2022 FashionNetwork.com All rights reserved.