US: Wolverine Worldwide ups FY profit guidance
Geographically, double-digit revenue growth was recorded in each of the Asia Pacific and Latin America regions
Footwear and apparel company Wolverine Worldwide has said it expects full-year earnings to come in at the higher end of its forecast and remains "excited" about its prospects for 2014 and beyond.
In a preliminary trading update, the company said adjusted fully diluted earnings, excluding transaction and integration expenses related to its PLG acquisition and restructuring charges, are expected at the high end of its previous earnings guidance of US$1.37 to $1.42 per share.
For the year ended 28 December, Wolverine sales climbed to $2.69bn, representing growth of 5.5% on the prior year period. The firm recorded "excellent" double-digit revenue growth from its Hush Puppies, CAT Footwear, and Keds brands, and "solid" mid-single digit revenue growth from Merrell and Saucony.
Geographically, double-digit revenue growth was recorded in each of the Asia Pacific and Latin America regions, offsetting flat sales in the US and the EMEA region.
"Fiscal 2013 included several noteworthy accomplishments of which we are exceptionally proud," said CEO Blake Krueger.
"Our revenue and earnings are expected to reach record levels, we successfully integrated and grew our newly acquired brands, and the performance of Merrell, our largest brand, strengthened as the year progressed."
Compression wear and shapewear garments are skin-tight items of clothing which apply pressure to specific parts of the body....
Canadean's "Delta Galil Industries Ltd. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major produc...
Canadean's "Shoe Carnival, Inc. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and s...
- Why China 5-year plan won't change garment-making
- Navigating a turbulent sourcing landscape
- Supply chains under pressure as Black Friday looms
- ‘Fixing Fashion’ one stitch at a time
- C&A building brand loyalty through consistent fit
- US Q3 in brief: Burlington Stores, Guess, Chico's
- Adidas has greenest textile supply chain in China
- Global clothing and footwear trade to drop by 1.5%
- Cambodia living wage campaign kicks off
- New Balance launches first 3D printed running shoe
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Technical Textile Markets: Product Developments and Innovations - 2nd Quarter 2015