Footwear and apparel company Wolverine Worldwide has reported a strong rebound in profitability during the second quarter. 

The Michigan-based company saw revenue increase 11.6 per cent year-over-year to $474.2 million, supported by strong demand for its flagship performance brands Merrell and Saucony.

In Q2, Saucony revenue jumped 41.5 per cent, while Merrell grew 10.7 per cent, together accounting for the majority of the company’s growth.

“Our second quarter results exceeded our expectations, which led to the strongest revenue growth we’ve seen in several years,” said Chris Hufnagel, president and CEO of Wolverine Worldwide.

The company also continued its operational restructuring and strategic simplification, which included exiting certain international markets and selling off the Sperry brand last year.

“We’re executing our new brand-building model at pace, and we’ve made meaningful strides in improving the profitability of the business, along with strengthening the balance sheet,” Hufnagel added. 

Although Wolverine refrained from issuing full-year guidance due to ongoing macroeconomic uncertainties, it provided a positive outlook for Q3, projecting revenue between $450 million and $460 million.

Additionally, the company reduced its net debt by 14.8 per cent, lowering it to $568 million, further indicating improved financial health.