This article was originally published by TheStreet.
By Sarfaraz A. Khan, Research Assistant: Gohar Yousuf
March 13, 2014
NEW YORK (TheStreet) -- Footwear company Wolverine World Wide (WWW_) has recently released its annual results: it managed to grow its top and bottom line, despite a challenging business environment and serious debt.
NEW YORK (TheStreet) -- Footwear company Wolverine World Wide (WWW_) has recently released its annual results: it managed to grow its top and bottom line, despite a challenging business environment and serious debt.
The company has made significant reductions in its debt levels, although it still has a long way to go. Compared to 2010, Wolverine has reported triple-digit growth in revenue and gross profits after the massive $1.25 billion acquisition of Collective Brands' Performance and Lifestyle group in 2012. Profitability has also improved. Moreover, for the current year, Wolverine has forecast double-digit earnings growth.
With a new buyback program and the expected growth in earnings, Wolverine's shareholders could finally start seeing the benefits of the acquisition, which included the Sperry Top-Sider, Saucony, Stride Rite and Keds brands.
