Wolverine Worldwide reported a decrease in FY23 revenue to $2.242.9 million, down 16.5 per cent, with a gross margin decline to 38.9 per cent.
Q4 saw revenue fall 20.8 per cent to $526.7 million.
Despite challenges, the company’s gross margin improved in Q4 to 36.6 per cent.
Inventory levels were significantly reduced by about 50 per cent.Wolverine Worldwide reported a decrease in FY23 revenue to $2.242.9 million, down 16.5 per cent, with a gross margin decline to 38.9 per cent.
Q4 saw revenue fall 20.8 per cent to $526.7 million.
Despite challenges, the company’s gross margin improved in Q4 to 36.6 per cent.
Inventory levels were significantly reduced by about 50 per cent.
US’ footwear firm Wolverine Worldwide’s gross margin at 38.9% in FY23
