WOLVERINE Q2 NET RISES 8%, MERRELL N.A. GAINS.
Net income grew 8% to $16,812,000 from $15,518,000 forthe 12 weeks ended June 14 on 7% revenue expansion to $267,362,000 from$250,329,000. The Outdoor Group, which consists of the Merrell and Patagoniabrands and remains the largest revenue and earnings generator for WWW, realizeda 2.1% increase in Q2 sales. Unit revenues were negatively impacted by lowershipments to a large international distributor and $3.0-3.5 million in delayedshipments to a European distributor that were moved to Q3. There were also someproduct delays during the period. North American Merrell sales were up soliddouble digits, fueled by continued strong response to the brand’s Outventureperformance ... Log in to view full article.