Wolverine Worldwide: operating profit up nearly 20%
Having announced a 2.6% increase in its annual revenue in 2014 to 2.76 billion dollars, the Wolverine Worldwide group has released its consolidated results.
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.
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