Casual footwear and apparel brand Wolverine World Wide says its performance has accelerated in the second quarter of the year, fuelled by the strength of its largest brands and compelling product innovation.
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CEO and chairman Blake Krueger notes the company continues to see strong momentum and better-than-expected trends across nearly all brands in the portfolio, with Merrell, Saucony and Sperry leading the way.
“Our strong order book has continued to improve since the end of the first quarter, including nice gains in our international business. As such, we now expect second-quarter 2021 revenue will exceed 2019 levels, and we are reiterating confidence in our latest full-year revenue outlook of US$2.24m to $2.3m.”
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This outlook assumes no meaningful deterioration of current market conditions related to the Covid-19 pandemic during the remainder of 2021.
For the first quarter, Wolverine’s reported revenue was $510.7m, up 16.3% versus the prior year. Net earnings amounted to $38.4m, compared to $12.8m last time.
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How can brands navigate the post-COVID-19 Apparel market?
- Latest forecasts for the online apparel market out to 2025
- How different regions and categories will perform, including which regions are lagging behind and which are performing at pre-pandemic levels
- Which categories within the Apparel market are displaying resilience
- Which brands are driving online spending
- Impact of inflation on the Global Apparel market
- What the biggest trends are that apparel businesses must adopt to succeed
