Senior management at Saucony's parent Wolverine Worldwide is confident the brand, the company’s third largest, is in the midst of a turnaround that will result in sales growth in the second half of the year. Saucony’s H1 sales are forecast to be down following a mid-digit revenue drop in FY18 despite solid growth in the EMEA region and a 50+ percent increase in Q4 ecommerce sales.
“We’re seeing some great success in early leads with new product on our own ecommerce channel,” WWW CFO Mike Stornant told analysts.
“…We have a pretty high confidence level, much higher than we had a hundred days ago, and that’s really tied to the basics, the flow of new product introduction and how we think (Saucony) is going to perform,” said WWW President and CEO Blake Krueger. “And two, the impact of the new management team is having on Saucony. So, our confidence level is high.”
In November, Saucony hired a former managing partner for global creative agency Arnold Worldwide, Don Lane, as chief marketing officer. Lane’s previous industry-related efforts have focuses on Acushnet Brands-owned Titleist/FootJoy and New Balance.