Business Segments

6 Months Ended

Jun. 20, 2015

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

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

• Lifestyle Group, consisting of Sperry ^® 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 and Cushe^® footwear and includes Patagonia^® footwear during fiscal 2014; 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 for the reportable operating segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from 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 and restructuring 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 20, 2015			June 14, 2014			June 20, 2015			June 14, 2014
Revenue:
Lifestyle Group	$	253.4		$	264.1		$	496.4		$	502.1
Performance Group	223.3			211.2			466.7			460.0
Heritage Group	127.4			113.5			253.5			234.2
Other	26.0			24.7			44.9			44.8
Total	$	630.1		$	613.5		$	1,261.5		$	1,241.1
Operating profit (loss):
Lifestyle Group	$	37.2		$	39.1		$	66.7		$	64.1
Performance Group	38.9			37.6			94.6			95.6
Heritage Group	14.2			14.5			32.3			32.2
Other	1.5			0.1			1.2			(1.3		)
Corporate	(44.2		)	(42.3		)	(83.6		)	(77.9		)
Total	$	47.6		$	49.0		$	111.2		$	112.7

(In millions)	June 20, 2015		January 3, 2015		June 14, 2014
Total assets:
Lifestyle Group	$	1,409.0	$	1,378.8	$	1,475.4
Performance Group	510.3		485.8		503.3
Heritage Group	255.3		246.4		214.6
Other	53.2		52.1		62.1
Corporate	326.8		341.4		425.8
Total	$	2,554.6	$	2,504.5	$	2,681.2
Goodwill:
Lifestyle Group	$	321.2	$	323.8	$	327.9
Performance Group	92.5		92.5		92.8
Heritage Group	22.8		22.5		24.1
Total	$	436.5	$	438.8	$	444.8