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.
NetVirta, a pioneer in smartphone 3D body scanning technology, has joined forces with Merrell, a Wolverine Worldwide brand, to enhance footwear shopping experiences. Their collaboration introduces the Merrell Shoe Advisor™ app, utilizing Verifyt® technology for precise shoe fitting. This innovative solution addresses the high return rates in online shoe sales, with 35-40% attributed to poor fit. The FDA-cleared Verifyt technology provides quick, accurate size recommendations, promising to boost customer satisfaction while minimizing returns, thereby benefiting both brands and environmental sustainability.
Wolverine has partnered with 343 Industries to launch a limited-edition boot inspired by the Halo franchise's Master Chief character. These boots, priced at $225, are set for release on March 29, 2022, with only 117 pairs available. The design draws from Wolverine's Hellcat boot and incorporates elements recognizable to Halo fans, including a '117' marking and UNSC insignia. This collaboration comes alongside the recent success of the Halo franchise, which boasts over 20 million players following the launch of Halo Infinite.
Merrell has appointed Sumi Scott as their new Chief Merchant Officer, effective March 21, 2022. With nearly 20 years of experience in retail merchandising and product development, Scott will lead the brand's global merchandising efforts and direct-to-consumer operations. Reporting to Chris Hufnagel, Merrell's global brand president, Scott aims to enhance the brand's growth strategies and transform its apparel and accessories sector. Her previous roles include leadership positions at The North Face and Canada Goose, where she drove significant product initiatives.
Wolverine World Wide reported a 34.8% revenue increase for fiscal 2021, reaching $2.415 billion, with a 24.7% fourth-quarter growth. Adjusted diluted earnings per share rose to $2.09, up from $0.93 year-over-year. The company expects fiscal 2022 revenue to grow 15%-18%, with adjusted EPS expected between $2.50 and $2.65. Despite challenges from COVID-19, Wolverine's acquisition of Sweaty Betty and robust eCommerce performance, with a 58.3% revenue increase, are contributing to a positive outlook.
Wolverine World Wide has announced a quarterly cash dividend of $0.10 per share of common stock, payable on May 5, 2022, to shareholders on record as of April 1, 2022. This dividend maintains the previous quarterly rate, indicating an annual dividend of $0.40 per share. Wolverine, a leading footwear and apparel marketer, operates internationally with a diverse portfolio of brands, including Merrell and Saucony, and has a presence in approximately 170 countries.
Wolverine World Wide, Inc. (NYSE: WWW) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results and business trends. Investors can join the call by dialing 1-877-407-4018 or access it online via the company's Investor Relations page. A replay will be available until March 23, 2022.
Founded in 1883, Wolverine is a leader in branded footwear and apparel.
Wolverine has launched a collaboration with unCommon Construction to promote skilled trade careers among high school students. This initiative includes a special-edition boot collection as part of Project Bootstrap, which supports vocational education and apprenticeships. A survey shows a significant gap between students' interest in skilled trades and their knowledge of available paths, with 72% believing in alternative options to college but only 30% considering trade schools. The initiative aims to bridge this gap through educational campaigns and resources.
Wolverine World Wide reported a strong third-quarter performance, with revenue of $636.7 million, a 29.1% year-over-year increase. Despite supply chain disruptions, including $60 million in negative revenue impact, the company saw double-digit growth in various brands. eCommerce revenue surged by 45%, and gross margins improved to 43.2%. The company updated its 2021 revenue outlook to approximately $2.4 billion, reflecting nearly 35% growth. Adjusted diluted earnings per share are expected between $2.05 and $2.10. The addition of Sweaty Betty is anticipated to boost future growth.
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