Reporting its revenue for FY19, Wolverine World Wide Inc. has posted an increase of 1.5 per cent to US $ 2273.7 million for the fiscal year ended on 31 December as compared to revenue of US $ 2239.2 million for FY18.
Wolverine World Wide Inc. is a popular American retailer of lifestyle, apparel and footwear products, which is known for harbouring the likes of Hush Puppies, Wolverine Boots and Merrell under its umbrella.
It is important to note that the company’s revenue may have gone up, but net earnings have fallen to US $ 128.9 million as compared to US $ 200.2 million for the previous year, which seems to be a hefty decline.
“We finished on a strong note in the fiscal year reflecting progress on our Global Growth Agenda, which drove over 5 per cent constant currency revenue growth. Our fourth quarter revenues were highlighted by the growth of the mid-teens market for our largest brands, Merrell and Sperry, acceleration in our digital-to-direct and direct-to-consumer offense, along with improved international expansion,” Blake Krueger, Chairman, CEO and President, Wolverine World Wide Inc., said in a press release.
Other than this, Wolverine’s Chaco brand has announced that it wants to partake in helping the healthcare system of America cope with the current crisis by producing facemasks in one of its factories.
According to a statement by the company, they refuse to be bystanders in this time of health emergency worldwide and are also exploring the option of being able to produce gowns and aprons.
The production of masks was initiated on 31 March, and the first batches will be donated to healthcare partners such as Spectrum Health.