World Footwear

Companies

Wolverine: 50% increase in ecommerce revenue

Apr 3, 2021 United States
Wolverine: 50% increase in ecommerce revenue
The US-headquartered footwear manufacturer has reported 50% growth of direct-to-consumer e-commerce revenue in the 2020 financial 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. (...) Our owned eCommerce revenue grew 50% in 2020, and we have planned further investment in this area to enable growth of 40% in 2021, significantly outpacing broader industry expectations”, commented Blake W. Krueger, Wolverine Worldwide’s Chairman and Chief Executive Officer.

In the last quarter of fiscal 2020, reported revenue totaled 509.6 million US dollars, down by 16.1% versus the prior year. Moving in the opposite direction, the company's owned eCommerce reported revenue grew by 31.7% versus the prior year.

Reported revenue for the full year was 1.791 million US dollars, down by 21.2% versus the prior year on a reported and constant currency basis. Owned eCommerce reported revenue grew by 49.9% versus the prior year.


Image credits: Chad Madden on Unsplash


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