Wolverine expects second quarter revenue to exceed 2019
One of the world’s largest global portfolios of footwear and lifestyle brands provided a business update ahead of investor meetings taking place during the Baird 2021 Global Consumer, Technology, and Services Conference
Wolverine noted that its performance has accelerated in the second quarter of the year, fuelled by the "strength of its largest brands" and "compelling product innovation".
“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”, stated Blake W. Krueger, Wolverine’s Chairman and Chief Executive Officer.
“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 2.24 billion US dollars to 2.30 billion US dollars”, he concluded.
This outlook assumes no meaningful deterioration of current market conditions related to the COVID-19 pandemic during the remainder of 2021.
Image credits: www.jeremyfrechette.com
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