The Merrell, Sperry and Saucony parent Wolverine Worldwide confirmed to analysts last week that it remains very active looking at brands, domestic or international, that might be a strategic fit for the company and further expand its global distribution base.
For now, following a FY18 where the Merrell brand grew at a double-digit pace and Sperry sales improved single digits, WWW is focused on continuing its global growth initiatives and investments targeting three areas—more innovative, faster product creation, digital and international expansion. Wolverine will spend an estimated $70 million this year on its global growth agenda projects, including $30 million to accelerate growth in global markets.
After clocking in with $2,239.2 million in FY18 revenues and a 12.0 percent operating margin, Wolverine is currently eying 3 percent revenue growth in FY19. Merrell is expected to maintain its current growth pace while Sperry sales should accelerate to mid-single digit expansion in FY19. Last fiscal year, Sperry achieved low-single digit growth from Keds and double-digit in kids.
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