Business Segments

6 Months Ended

Jun. 14, 2014

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company’s portfolio of 16 brands is organized into the following three operating segments, which the Company has determined are reportable operating segments.

• Lifestyle Group, consisting of Sperry Top-Sider^® footwear and apparel, Stride Rite^® footwear and apparel, Hush Puppies^® footwear and apparel, Keds^® footwear and apparel and Soft Style^® footwear;

• Performance Group, consisting of Merrell^® footwear and apparel, Saucony^® footwear and apparel, Chaco^® footwear, Patagonia^® footwear and Cushe^® footwear; and

• Heritage Group, consisting of Wolverine^® footwear and apparel, Cat^® footwear, Bates^® uniform footwear, Sebago^® footwear and apparel, Harley-Davidson^® footwear and HyTest^® safety footwear.

The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Reported revenue of the reportable operating segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; income from a network of third-party licensees and distributors; and revenue from the Company’s mono-branded consumer-direct business.

The Company also reports Other and Corporate categories. The Other category consists of the Company’s multi-brand consumer-direct business, leather marketing operations and sourcing operations that include third-party commission revenues. The Corporate category consists of unallocated corporate expenses including acquisition-related integration costs, restructuring costs and impairment costs. The Company’s operating segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions.

Company management uses various financial measures to evaluate the performance of the reportable operating segments. The following is a summary of certain key financial measures for the respective fiscal periods indicated.

	12 Weeks Ended						24 Weeks Ended
(In millions)	June 14, 2014			June 15, 2013			June 14, 2014			June 15, 2013
Revenue:
Lifestyle Group	$	264.1		$	255.2		$	502.1		$	525.5
Performance Group	211.2			199.7			460.0			440.2
Heritage Group	113.5			110.6			234.2			229.1
Other	24.7			22.3			44.8			38.9
Total	$	613.5		$	587.8		$	1,241.1		$	1,233.7
Operating profit (loss):
Lifestyle Group	$	39.1		$	45.8		$	64.1		$	91.9
Performance Group	37.6			30.5			95.6			81.4
Heritage Group	14.5			16.1			32.2			31.5
Other	0.1			0.6			(1.3		)	(0.4		)
Corporate	(42.3		)	(56.0		)	(77.9		)	(116.4		)
Total	$	49.0		$	37.0		$	112.7		$	88.0

(In millions)	June 14, 2014		December 28, 2013		June 15, 2013
Total assets:
Lifestyle Group	$	1,475.4	$	1,431.1	$	1,458.5
Performance Group	503.3		476.4		514.5
Heritage Group	214.6		247.2		243.8
Other	62.1		56.9		77.1
Corporate	425.8		410.6		350.8
Total	$	2,681.2	$	2,622.2	$	2,644.7
Goodwill:
Lifestyle Group	$	327.9	$	329.0	$	347.3
Performance Group	92.8		92.8		87.0
Heritage Group	24.1		23.5		23.5
Total	$	444.8	$	445.3	$	457.8