US’ footwear firm Wolverine Worldwide’s gross margin at 38.9% in FY23

Wolverine Worldwide reported a decrease in FY23 revenue to $2.242.9 million, down 16.5 per cent, with a gross margin decline to 38.9 per cent.
Q4 saw revenue fall 20.8 per cent to $526.7 million.
Despite challenges, the company’s gross margin improved in Q4 to 36.6 per cent.
Inventory levels were significantly reduced by about 50 per cent.

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