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.
Last week at the Zollverein Coal Mine in Essen, Germany, Saucony athletes participated in a unique 10-kilometer race showcasing the Endorphin Pro+, their latest carbon-plated running shoe. The event proved successful, with several athletes breaking records, including Otto Kingstedt, who set a new world record for deaf or hard-of-hearing athletes at 29:56. The Endorphin Pro+ features advanced technologies such as SPEEDROLL™ and PWRRUN PB™, aimed at enhancing performance. The shoe is now available for purchase at a retail price of $250.
Wolverine and Old Rip Van Winkle Distillery have launched a new limited-edition boot, the Wolverine x Old Rip Van Winkle 1000 Mile boot, now available for pre-order. This collaboration, resulting from a successful first batch, donates 100% of revenue to the mikeroweWORKS Foundation to support skilled trades education. The boots, priced at $400, feature unique Horween Whiskey Predator leather and handcrafted components from bourbon barrels. They honor American craftsmanship and the skilled workers behind these products, with a release date set for October 14, 2021.
Merrell has partnered with Big Brothers Big Sisters of America and Canada to launch the Shared Steps Challenge, encouraging outdoor activities. For every mile tracked in September, Merrell will donate $1 to BBBS, up to $40,000, to support local chapters. Participants can register through Merrell's website and participate in various activities. This initiative aligns with Merrell's commitment to promoting outdoor accessibility and mentoring for youth. The campaign also supports the expansion of Merrell's Moab hiking boot line, which has been popular since 2007.
Wolverine World Wide, Inc. (NYSE: WWW) has successfully raised $550 million through the issuance of 4.000% Senior Notes due 2029. The proceeds were utilized to redeem all outstanding 5.000% Senior Notes due 2026 and 6.375% Senior Notes due 2025, which will save the company approximately $9.5 million in annual interest expenses. CFO Mike Stornant highlighted that the firm's strong cash flow and positive future outlook enabled this advantageous refinancing. The company is now well-positioned to continue investing in its growing performance brands, including Merrell and Saucony.
Wolverine World Wide (NYSE: WWW) announced the pricing of $550 million in 4.000% Senior Notes due 2029. The proceeds will be used to redeem existing higher-rate senior notes and cover related expenses. The offering is aimed at qualified institutional buyers and non-U.S. persons, and it is expected to close on August 26, 2021. The notes will be guaranteed by the Company's domestic subsidiaries. The company acknowledges risks, including economic impacts from COVID-19, supply chain disruptions, and changes in consumer preferences that may affect future performance.
Wolverine World Wide (NYSE:WWW) announced a $550 million offering of Senior Notes due 2029. The proceeds will be used to redeem existing notes and cover related expenses. The offering targets qualified institutional buyers and non-U.S. persons under applicable securities laws, without registration under the Securities Act. The notes will be guaranteed by the Company's domestic subsidiaries. Wolverine Worldwide, founded in 1883, markets a diverse range of branded footwear and apparel globally.
Designer Brands Inc. (DBI) announced an exclusive distribution partnership with Wolverine Worldwide (WWW) for Hush Puppies in North America. Starting in 2022, DSW Designer Shoe Warehouse will be the sole in-store distributor of Hush Puppies, enhancing its retail presence in the U.S. and Canada. This collaboration aims to align consumer profiles and elevate brand awareness. Hush Puppies will exit other North American retail channels while maintaining online sales. DSW operates over 600 stores and boasts 400 million e-commerce visits annually.
Hush Puppies, a division of Wolverine Worldwide (NYSE:WWW), has formed an exclusive distribution partnership with DSW Designer Shoe Warehouse to enhance its retail presence in North America. Effective 2022, DSW will serve as the sole in-store distributor of Hush Puppies, aiming to expand brand awareness and reach new consumers. The partnership aligns with both brands' consumer profiles, and Hush Puppies will maintain its eCommerce operations while exiting all other North American wholesale channels.
Wolverine World Wide (NYSE: WWW) has declared a quarterly cash dividend of $0.10 per share, payable on November 1, 2021, to stockholders of record as of October 1, 2021. This dividend matches the previous quarterly amount, signifying an annual dividend of $0.40 per share. Founded in 1883, Wolverine is a major player in the footwear and apparel market, renowned for its diverse brand portfolio, including Merrell, Saucony, and Hush Puppies, sold across approximately 170 countries.
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