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Rockford footwear giant to close retail centers

Wolverine Worldwide said Tuesday it will close 140 retail locations as part of a strategic realignment plan.

The Rockford footwear giant said it would close retail locations - primarily Stride Rite stores - over the next year and half. Most of the closures would come by the end of 2015.

The company said the realignment is part of an effort to react to what it described as a fundamental shift in consumer shopping behavior.

Chief Executive Officer Blake Krueger said most of the company's core footwear brands are doing well and strong revenue gains were posted in the Latin American and Asia-Pacific sectors.

"We are extremely pleased to deliver a record quarter in what continues to be a volatile global retail environment, particularly in the U.S." he said in a statement.

Specific details on the retail center closures weren't disclosed.

 

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