Wolverine World Wide, Inc. - WWW STOCK NEWS

Wolverine continues its partnership with 343 Industries by launching a new limited-edition Spartan-inspired boot collection on March 16, 2023. Following the success of the previous Wolverine x Halo Master Chief boot that sold out quickly, this new collection features four unique styles: Wild Kovan, Foxwood Seal, Scorpion Horvath, and Midnight Frost. These boots incorporate design elements inspired by the Halo universe, including a reflective patch, UNSC insignia, and premium materials. Available for $175 on Wolverine.com, buyers will also receive an exclusive Halo Infinite Nameplate Background titled 'Plasma Lock'.

Merrell has been named the winner of the Footwear Plus 24th Annual Plus Awards in the outdoor category for the fourth consecutive year, marking the 14th time since the awards' inception in 1999. The awards highlight design and retail excellence in the footwear market, determined by industry and consumer votes. Merrell aims to continue being a leader in hiking and trail running footwear while expanding into stylish lifestyle options. In 2022, Merrell was recognized as Footwear News's Brand of the Year and received other accolades for its innovative products.

Wolverine World Wide reported fourth quarter revenue of $665 million, a 4.6% growth year-over-year, with an 8.4% increase on a constant currency basis. The Active Group experienced a significant revenue rise of 16.8% to $397.6 million. However, the gross margin declined to 33.7% from 41.3% due to inventory liquidation and increased promotions. The company anticipates a 2023 revenue growth of 0% to 2% and an operating margin around 8.5%. Notably, diluted EPS for the quarter was reported at ($4.59), a significant drop compared to the previous year.

Merrell, the leading outdoor footwear brand, has launched a collaboration with Northern Cheyenne artist Jordan Ann Craig, showcasing Indigenous artwork across a new collection of footwear and accessories. This partnership features five footwear styles and apparel items, integrating Craig's designs to celebrate Indigenous culture. The launch coincides with Merrell's Inclusivity in the Outdoors Report, highlighting barriers faced by Indigenous Peoples in outdoor spaces. Additionally, Merrell is donating $45,000 to support the Fort Robinson Outbreak Spiritual Run, with proceeds from sales benefitting the event. The collection aims to bridge art and outdoor exploration.

Wolverine World Wide, Inc. (NYSE: WWW) has announced a quarterly cash dividend of $0.10 per share, payable on May 1, 2023, to stockholders recorded by April 3, 2023. This maintains the company's previous dividend and results in an annualized dividend of $0.40 per share. Established in 1883, Wolverine is a leading marketer of branded footwear and apparel, including well-known brands like Merrell, Saucony, and Sperry. Their products are distributed in the U.S. and approximately 170 countries worldwide.

Wolverine World Wide (NYSE: WWW) has announced the sale of its Keds brand to Designer Brands, Inc. and plans to grant an exclusive license for Hush Puppies footwear in the US and Canada to DBI. These transactions, effective February 4, 2023, for Keds and anticipated on July 1, 2023, for Hush Puppies, aim to simplify Wolverine's portfolio and enhance profitability. Combined, the transactions are expected to generate over $90 million in cash, which will be used to reduce debt and improve capital structure. The upcoming earnings call on February 22, 2023, will provide further insights into the impact of these agreements.

Wolverine World Wide, Inc. (NYSE: WWW) announced it will report its fourth quarter and full year fiscal 2022 financial results on February 22, 2023, at approximately 6:30 a.m. ET. A conference call is scheduled for 8:30 a.m. ET to discuss these results and current business trends. Interested investors and analysts can dial in starting five minutes prior to the call, and it will also be available via live webcast on the company’s website. A recorded replay will be accessible shortly after the call until March 22, 2023. Wolverine is recognized globally as a leading marketer of branded footwear and apparel.

Merrell, the leading hike brand, has launched its second collection in partnership with Unlikely Hikers, featuring diverse, size-inclusive footwear and apparel. This collection emphasizes extended sizing and ungendered designs, promoting inclusivity in the outdoors. Celebrating the diversity of outdoor enthusiasts, the collection includes the Moab 3 shoes and a range of apparel, available online in the U.S. and Canada.

Founded by Jenny Bruso, Unlikely Hikers aims to support underrepresented communities in outdoor spaces. The collaboration reflects Merrell's commitment to inclusivity, highlighted by research showing discrimination in outdoor settings.

Wolverine World Wide (NYSE: WWW) has updated its fiscal 2022 outlook ahead of the ICR Conference on January 10, 2023. The company anticipates a revenue of $2.685 billion for the full year, an 11% increase, and $665 million for Q4, reflecting a 5% growth. The efforts to reduce inventory led to a year-end figure of $805 million. However, earnings are expected to land at the lower end of previous guidance. Net debt decreased to $1.0 billion. The company continues to actively pursue sales of its Keds and Wolverine Leathers brands.