Us Shoe Giant Wolverine Net Profit Fell 4.5% In The First Quarter.

< p > US < a target= "_blank" href= "//www.sjfzxm.com/" > shoes /a > Wolverine Wolverine Worldwide Inc (NYSE:WWW) announced on Tuesday that the net profit fell 4.5% in the first quarter of this year, and the related expenses of the merger offset better than expected revenue growth, but the adjusted profit far exceeded expectations.

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< p > the company also lowered the expected level of the whole year's revenue by 25 million US dollars. At present, it expects to earn 2 billion 700 million -27.75 billion a year, and reiterates its expected earnings per share.

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< p > Wolverine net profit in the first quarter decreased from 31 million 200 thousand US dollars a year, or 64 cents per share, to 29 million 800 thousand US dollars, or 60 cents per share.

Excluding one-time items, adjusted earnings per share were 81 cents, much higher than the average 55 cents expected by analysts surveyed by Thomson Reuters.

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< p > revenue doubled to $646 million, up from analysts' average of $632 million.

Gross profit margin fell to 40.6% from 41% in the same period last year.

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< p > Wolverine group is the oldest footwear manufacturer in the United States. Since 1883, it has produced all kinds of work protective shoes, boots and outdoor leisure sports shoes.

In the past 15 years, Wolverine has developed from the first 3 brands to 16, and has acquired Merrell, Sebago, Cushe and Chaco.

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In the first half of P > 2012, Wolverine set up a joint venture in Columbia and India, and continued to accelerate the pace of global expansion. In October, it threw $1 billion 200 million to buy Collective Brands, a shoemaking group.

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