Wolverine Worldwide has seen a 4.4 per cent increase in its total revenue in the first quarter of this year, from $394.9 million during the same period last year to $412.3 million. 

Its gross margin increased from 45.9 per cent to 47.3 per cent year on year, with its operating margin rising to 4.8 per cent. 

Wolverine attributed the rise in its gross margin to a healthier sales mix, lower promotional activity and the benefit of supply chain cost initiatives.

The company expects a revenue of between $440 million and $450 million over the second half of the year, with an operating margin of approximately 6.7 per cent, down 10 points compared to the second quarter of last year. 

“While there’s uncertainty in the marketplace today, I’m excited by the momentum we’ve generated, and I believe we’re well positioned with great global brands, a variety of strategic and operational advantages, and most importantly, a talented and resilient team to navigate the near-term challenges and emerge an even better company,” said Chris Hufnagel, president and CEO of Wolverine Worldwide.