CEO Calvin McDonald doesn’t see the Sweatlife slowing down anytime soon.
The sneaker giant’s sales grew at a much slower-than-anticipated rate in its fiscal third quarter.
The company is anticipating increased sales in the current quarter and a return to dressier fashion in the year ahead.
The company also unveiled that Dave Kimbell will become its next CEO.
The company’s e-commerce operations have become a bright spot, and now make up 20 percent of the business.
Revenues fell across all categories and regions in the most recent quarter, but the watch and accessories maker expects sales to improve with store closures.
Meanwhile, the retailer expects current quarter revenues to grow, compared with the first quarters of 2019 and 2020.
Looking toward an optimistic future, accessories trends are at the forefront this fall.
The retailer plans to accelerate the pace of new store openings, update fulfillment capabilities and add more local distribution centers.
Wolverine’s broad portfolio of footwear brands across different lifestyles saw mixed performances.
Even so, the retailer still plans on increasing its store fleet in the next few years.
The retailer released quarterly sales figures, improving at the Free People brand, while falling short at Urban Outfitters and Anthropologie.
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