Wolverine Worldwide has reported higher sales for the fourth quarter, driven by uplifts from most of its brands.

Total revenue rose 4.6 per cent year-on-year to $517.5 million. 

Most of the brands saw sales increase during the quarter, with Saucony soaring 26.4 per cent, Merrell growing 5.9 per cent, and Sweaty Betty rising 8.8 per cent. Wolverine brand sales decreased 10.5 per cent.

Gross margin expanded from 43.6 per cent a year ago to 47 per cent, primarily due to cost savings, a shift toward full-price sales, and the positive impact from recent price increases, partially offset by higher US tariffs.

Net earnings grew from $23.8 million to $32.5 million.

“We exceeded our expectations across all key metrics in the fourth quarter, finishing a solid year for the company,” said Chris Hufnagel, president and CEO of Wolverine Worldwide.  

“Our biggest brands are growing around the world, direct-to-consumer continues to improve, earnings per share increased meaningfully year-over-year, and I believe we’re finding our footing where we’ve underperformed.” 

For the full year, revenue grew 6.8 per cent to $1.87 billion, and net earnings more than doubled to $101 million.

For the new fiscal year, the company expects revenue to grow 4.6-5.9 per cent.

• Further reading: Wolverine Worldwide posts higher sales in Q3, fueled by Saucony.