Wolverine World Wide sales slide, pursues dual China-Vietnam strategy

China 2605 Cons. Discr. - Apparel 374 Cons. Discr. - Retailing 311 Coronavirus 430 Programmatic 33 Quote Watch 264 U.S. 4636 Vietnam 288

Footwear manufacturer Wolverine World Wide’s stock price dropped after the firm reported declining revenues in Q2 despite an improvement in ecommerce sales. U.S. seaborne imports linked to the firm dropped by 57.0% year over year in Q2’20 as the firm attempted to unwind inventories in the lower sales environment resulting from COVID-19. Wolverine’s sourcing is dominated by supplies from Vietnam and China which each accounted for 38.7% of imports in 2019. Puma is in a similar position with 24.6% and 27.6% of imports linked to the firm coming from Vietnam and China respectively in the same...

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