Net income rose 53% to $25,647,000 from $16,738,000 for the period ended Jan.1 on record Q4 revenues of $385,025,000 versus $312,530,000. Operating margin grew 120 b.p. to 8.1% in the final period as all segments posted double-digit sales growth with the exception of Hush Puppies. Outdoor segment sales were 22% higher at $134.8 million; Wolverine Footwear Group sales improved 27% to $97.9 million and Heritage division sales were 26% higher at $65.1 million. Hush Puppies, which produced more than 18 million pairs for the FY, generated Q4 sales of $38.9 million.

For the FY, net income was 69% higher at $104,470,000 ... Log in to view full article.