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Wolverine World Wide, Inc. (NYSE: WWW), established in 1883, is a leading global marketer and licensor of branded casual, active lifestyle, work, outdoor sport, athletic, children's, and uniform footwear and apparel. The company is headquartered in Rockford, Michigan, and distributes its products in over 170 countries and territories. Wolverine World Wide’s portfolio boasts renowned brands such as Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Chaco, Bates, and Hytest. Additionally, the company is the global footwear licensee for the popular Cat and Harley-Davidson brands.
The company is engaged in designing, manufacturing, sourcing, marketing, licensing, and distributing branded footwear, apparel, and accessories through its diverse business segments: Active Group, Work Group, Lifestyle Group, and Other. The Active Group segment, which includes the Merrell, Saucony, Sweaty Betty, and Chaco brands, generates the maximum revenue.
Recent achievements include the launch of the Marathumb Challenge by Saucony to encourage physical activity over smartphone usage. Saucony, one of Wolverine World Wide’s key brands, introduced the Ride 17 and Guide 17 sneakers, bringing innovations like PWRRUN+ midsole and CenterPath Technology™ to enhance the running experience. The Marathumb Challenge measures the distance users scroll on their phones and compares it to their physical steps, motivating users to move more and scroll less.
Wolverine World Wide has partnered with the American Camp Association (ACA) to promote camp employment through the “Work at Camp” event, aimed at college and university students. This initiative highlights the benefits of working at camps, fostering leadership, time management, and communication skills.
Financially, Wolverine World Wide has maintained a strong market presence with consistent revenue streams from its diverse brand portfolio. The company’s strategy focuses on innovation, expanding its market reach, and building strong consumer relationships. Wolverine World Wide continues to inspire and engage its consumers through high-quality, performance-driven products designed for various activities and lifestyles.
Merrell's Long Sky 2 trail running shoe has been recognized by TIME Magazine as one of the Best Inventions of 2022. Designed by the Merrell Test Lab, this shoe combines lightweight track shoe performance with hiking boot durability, featuring a Vibram Megagrip outsole for excellent traction. Key attributes include a FloatPro Foam midsole for reduced fatigue and quick-dry fabric, enhancing comfort in various conditions. Merrell's commitment to innovation and athlete-tested designs underscores its leadership in outdoor footwear.
Wolverine World Wide reported an 8.6% revenue increase in Q3 2022, reaching $691.4 million, but profits fell short of expectations due to supply chain disruptions and high promotional activity. Gross margin decreased to 40.2% from 43.2%, and diluted EPS rose to $0.48. International revenue grew 33% to $303 million, while direct-to-consumer sales increased 4.5% to $160 million. The company anticipates 2% to 6% revenue growth in Q4 with a negative impact from foreign exchange rates.
Wolverine World Wide (NYSE: WWW) announced a new brand group structure and the establishment of a Profit Improvement Office to enhance operational efficiency and improve margins. The organization will reorganize its brands into three segments: Active, Work, and Lifestyle. New leaders will head these groups to drive success. The goal is to achieve a consistent and enhanced revenue growth path, aiming for a 12% operating margin. The changes reflect a strategic approach to leverage brand synergies and provide better visibility for investors.
Wolverine World Wide’s Merrell brand has been awarded Brand of the Year at the Footwear News Achievement Awards, set for November 30 in New York. The brand is recognized for its commitment to making the outdoors more accessible and diverse, exemplified by initiatives like a women's hiking club and support for urban green spaces. Recent accolades also include honors for product innovation, such as the Moab 3 hiking boot. Merrell’s focus on sustainability and community engagement underlines its leadership in the outdoor footwear market.
Wolverine World Wide announces Nicholas T. Long as the new Lead Independent Director, effective November 4, 2022. Long, who has been on the board since 2011, succeeds Dr. David T. Kollat. He brings over 30 years of experience from major brands, including MillerCoors and Coca-Cola. Long's leadership will focus on strategic objectives in brand-building and marketing. The company expresses gratitude to Kollat for his long service since 2007 during critical transitions.
Wolverine World Wide declared a quarterly cash dividend of $0.10 per share, payable on February 1, 2023, to shareholders on record as of January 2, 2023. This dividend matches the previous quarter's payout and indicates an annual dividend of $0.40 per share. Founded in 1883, Wolverine is a leading marketer of branded footwear and apparel, operating across 170 countries through a portfolio that includes brands like Merrell, Saucony, and Sperry. The company's commitment to dividend payments reflects ongoing confidence in its financial stability.
Wolverine World Wide (NYSE: WWW) will announce its third quarter fiscal 2022 earnings on November 9, 2022, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results and current business trends. Interested participants can join the call by dialing 1-877-407-4018 (1-201-689-8471 for international callers). A recorded replay of the call will be available until December 9, 2022.
Wolverine, based in Rockford, Michigan, is a leading footwear marketer and licensor with a diverse brand portfolio.
Janice Tennant, Chief Marketing Officer at Merrell, received the Marketing Leader of the Year Award from the Women in Content Marketing Awards. Her leadership has revitalized Merrell’s marketing approach, focusing on inclusivity and an agile market strategy. Since taking her role in June 2020, Tennant has successfully reversed declining market share, implemented programs like 'Hike Your Turf,' and led digital initiatives to double ecommerce growth. Her commitment to diversity and innovation in marketing is shaping the brand’s future.
Wolverine, Buffalo Trace, and Huckberry have launched a special-edition Wolverine 1000 Mile boot, available exclusively on Huckberry.com. Designed in Michigan and handmade in Arkansas, the boot celebrates American craftsmanship and the collaboration between the three brands. Priced at $425, this boot features unique branding elements like the Buffalo Trace logo and Huckberry icon. The collaboration aims to resonate with consumers during National Bourbon Heritage Month, highlighting the quality and heritage associated with both Wolverine and Buffalo Trace.
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