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Posted On: 01/12/2024 5:36:45 AM
Post# of 27260
SPERRY/WOLVERENE
Footwear and apparel company Wolverine World Wide has sold Sperry to brand management firm Authentic Brands Group.
Sperry, best known for its boat shoes and loafers, saw sales drop by more than 40% in the three months ended Sept. 30.
Retailers have been looking to carve out underperforming assets and reinvest in growth drivers against an increasingly uncertain economic backdrop.
Footwear and apparel company Wolverine World Wide has sold Sperry to brand management firm Authentic Brands Group.
Sperry, best known for its boat shoes and loafers, saw sales drop by more than 40% in the three months ended Sept. 30.
Retailers have been looking to carve out underperforming assets and reinvest in growth drivers against an increasingly uncertain economic backdrop.
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