Sept 6 Wolverine Worldwide Inc, maker of
Hush Puppies shoes, warned third-quarter results may miss its
earlier forecast as conditions in Europe have turned out to be
harder than expected, sending its shares down 6 percent in
Europe, which accounted for about a fourth of the company's
2011 sales, is proving to be even more of a challenge than it
anticipated, the shoemaker said in a statement prepared for a
In July, the Rockford, Michigan-based company had forecast
flat per-share earnings and revenue growth of low to mid-single
digits for the third quarter.
Wolverine, which also owns brands such as Merrell, Cat and
Patagonia footwear, had also reported second-quarter results
below expectations, hampered by challenging conditions in
Shares of the company, which competes with Skechers USA Inc
and Deckers Outdoor Corp, closed at $47.10 on
Wednesday on the New York Stock Exchange.