Wolverine Stock Slides as Company Misses Revenue and Profit Targets in Q3
November 9, 2022
Total revenue in the third quarter of 2022 was $691.4 million, which represents growth of 8.6% versus the prior year. Net earnings were $38.8 million, down 0.8% from the same time last year.
By brand, Merrell’s revenue was $198.6 million in the quarter, up 33.6% compared to the same period last year. At Saucony, revenue was $129.7 million, down 0.6% compared to last year, and the company’s namesake brand Wolverine saw revenue of $59.1 million, down 1.2%. FN