Wolverine World Wide Inc. said it expects second-quarter 2021 revenue to exceed 2019 levels due to better-than-expected trends across nearly all brands in its portfolio led by Merrell, Saucony and Sperry.
The company provided the update ahead of investor meetings taking place during the Baird 2021 Global Consumer, Technology and Services Conference on June 8, 2021.
The company noted that its performance had accelerated in the second quarter of the year, fueled by the strength of its largest brands and 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,” said Blake W. Krueger, Wolverine Worldwide’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 $2,240 million to $2,300 million.”
This outlook assumes no meaningful deterioration of current market conditions related to the COVID-19 pandemic during the remainder of 2021.
Wolverine Worldwide’s portfolio includes Merrell, Saucony, Sperry, Hush Puppies, Wolverine, Keds, Chaco, Bates, HYTEST, and Stride Rite. Wolverine Worldwide is also the global footwear licensee of Cat and Harley-Davidson.
Photo courtesy Sperry