Welcome to our dedicated page for Wolverine World Wide news (Ticker: WWW), a resource for investors and traders seeking the latest updates and insights on Wolverine World Wide stock.
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, a leading outdoor footwear brand, announced the signing of its first-ever U.S. trail runners, Aum Gandhi and Rachel Tomajczyk, on September 21, 2022. This move highlights their commitment to supporting athletes through sponsorship and resources. Gandhi, an endurance athlete from California, aims to represent India in the Moab 240 race, while Tomajczyk has several accolades in trail running since transitioning from track. This strategic partnership aligns with Merrell's mission to empower outdoor exploration.
Merrell has unveiled the new Moab 3 hiking line, enhancing its iconic footwear with environmentally friendly materials and improved comfort. The update includes features such as 100% recycled components and advanced cushioning technology. To promote the launch, Merrell introduced the Hike and Seek interactive game, encouraging outdoor exploration with a chance to win a trip to Moab, Utah. This initiative aims to boost physical and mental health while celebrating the heritage of hiking.
Merrell has launched the second generation of its women's hiking sneaker, Bravada 2, alongside the Merrell Hiking Club aimed at empowering women in the outdoors. The company aims to cater to women's diverse hiking needs with a community-focused digital platform. The Bravada 2 features a wider toe box, additional arch support, and is crafted from recycled materials. Recognized with a 2022 SELF Certified Sneaker Award, the Bravada 2 emphasizes fit and functionality. The Hiking Club, which started in EMEA, has expanded to North America, promoting outdoor engagement.
Wolverine World Wide reported a 13% revenue growth in Q2 2022, totaling $713.6 million, exceeding expectations. EPS surged to $1.53, up 188.7% year-over-year. Key brand Merrell saw a 14% growth, while international revenue jumped 45%. However, challenges remain, including elevated customer inventory and a stronger dollar, leading to revised full-year guidance of $2.740 - $2.790 billion in revenue. The operating margin was reported at 23.5%, with expectations for 11.5% in the back half of 2022 due to increased promotional activities.
Wolverine World Wide, Inc. has declared a quarterly cash dividend of $0.10 per share, payable on November 1, 2022, to shareholders of record as of October 3, 2022. This dividend matches the previous quarter's amount, resulting in an annual dividend of $0.40 per share. Wolverine is a leading marketer of branded footwear and apparel, operating globally with a portfolio that includes well-known brands like Merrell, Saucony, and Hush Puppies.
Wolverine World Wide, Inc. (NYSE: WWW) will release its second quarter fiscal 2022 financial results on August 10, 2022, at 6:30 a.m. ET. The company will host a conference call at 8:30 a.m. ET for investors and analysts to discuss the results and current business trends. Interested participants can join by calling 1-877-407-4018 for domestic or 1-201-689-8471 for international inquiries. A recorded replay will be accessible until September 10, 2022.
Merrell, a leader in outdoor footwear, launched its new elite trail-running shoe collection, the MTL Long Sky 2 and MTL MQM, engineered for performance in unpredictable conditions. Developed at the Merrell Test Lab, these shoes promise agility and protection on rough trails. The MTL Long Sky 2 boasts a unique system expelling 30% more water, enhancing performance. The MTL MQM is designed for durability across varied terrains. Accompanying this launch is the integrated marketing campaign 'Same is Boring,' aimed at inspiring runners to embrace the trails.
Wolverine World Wide, Inc. (NYSE: WWW) announced the sale of the Champion trademarks for footwear in the U.S. and Canada to HanesBrands Inc. for $90 million. This deal allows Wolverine to maintain a perpetual license for the Keds Champion sneaker, facilitating business model simplification and securing significant cash flow. The transaction also resolves ongoing litigation between the companies.
Brendan Hoffman, CEO, highlighted the cash received is at a meaningful multiple of future expected royalty streams.
On June 9, 2022, Wolverine World Wide (NYSE: WWW) executives Michael Stornant and Alex Wiseman will engage in a fireside chat at the Stifel Cross Sector Insight Conference in Boston, MA, starting at 8:35 am ET. The event will include a live audio webcast, with a replay available for 90 days on the company's Investor Relations page. Founded in 1883, Wolverine is a leading marketer of branded footwear and apparel, featuring well-known brands such as Merrell, Saucony, and Sperry.
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