Wolverine Worldwide’s FY24 revenue has declined 21.8 per cent to $1.76 billion, though gross margin rose to 44.5 per cent due to lower costs.
The Active and Work groups revenue fell 13.4 and 5.3 per cent respectively.
Q4 FY24 overall revenue declined 6.1 per cent to $494.7 million.
CEO Hufnagel highlighted a successful turnaround.
FY25 revenue is expected to grow 2.5–4.3 per cent.