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.
L Catterton has sold its stake in Sweaty Betty, a women's fitness and lifestyle brand, to Wolverine World Wide (NYSE: WWW). Founded in 1998, Sweaty Betty aims to empower women and has grown into a global brand with a strong digital presence and selective wholesale partnerships. Over six years, L Catterton aided Sweaty Betty's expansion across Europe, the US, and Asia. The co-founders expressed gratitude for L Catterton's support in achieving their mission. The deal reflects Sweaty Betty's robust foundation for future growth and innovation.
Wolverine World Wide (NYSE: WWW) has acquired Sweaty Betty® for approximately $410 million. This all-cash transaction, finalized on August 2, 2021, aims to enhance Wolverine's position in the women's activewear market. Sweaty Betty, founded in 1998, operates predominantly through direct-to-consumer channels, generating over 80% of its revenue this way. This acquisition is expected to be accretive to earnings in its first year, aligning with Wolverine's strategic shift towards digital growth and expanding its product portfolio beyond footwear.
Wolverine World Wide (NYSE:WWW) reported record financial results for Q2 2021, with revenue of $631.9 million, an 81% increase year-over-year. Both Merrell and Saucony achieved all-time record quarterly revenue, contributing to over 40% growth compared to 2019. The company raised its fiscal 2021 revenue outlook by $150 million, anticipating revenue between $2.34 billion and $2.4 billion, representing 31% to 34% growth from 2020. Adjusted diluted EPS is expected to be between $2.20 and $2.30. Cash flow from operations was $25.4 million, while total debt decreased to $718.4 million.
Wolverine World Wide (NYSE: WWW) will release its second quarter 2021 financial results on July 29, 2021, at 6:30 a.m. ET, followed by a conference call at 8:30 a.m. ET. The call will be accessible via the Investor Relations section of the company's website. Wolverine Worldwide is a leading footwear and apparel marketer with a diverse brand portfolio, including Merrell, Sperry, and Hush Puppies. The company has a strong global presence, operating in approximately 170 countries.
Wolverine World Wide (NYSE:WWW) announces a leadership transition as Brendan Hoffman will become CEO at the end of the year, succeeding Blake Krueger, who has served as CEO since 2007. Hoffman joined as President in September 2020 and has focused on eCommerce growth, targeting revenue of $500 million for 2021, doubling from 2019 levels. Krueger will assume the role of Executive Chairman. Under Krueger, the company expanded globally and increased revenue to over $2 billion, enhancing its brand portfolio significantly.
Hush Puppies, part of Wolverine Worldwide (NYSE: WWW), announced a collaboration with Voxel8 to integrate its digital manufacturing technology into their midsoles. This partnership aims to enhance comfort, support, and longevity of the footwear. Voxel8's ActiveLab system utilizes a no-tooling manufacturing process that promises quicker design cycles. With a strong focus on sustainability, this technology enables customization and rapid response to market demands. Both companies are looking to ramp up production for greater market reach and innovation in comfort.
Wolverine World Wide (NYSE:WWW) has reported accelerated performance in Q2 2021, driven by strong sales from its major brands, including Merrell, Saucony, and Sperry. CEO Blake W. Krueger noted that the company expects Q2 revenue to surpass 2019 levels and reaffirmed its full-year revenue outlook of $2.24 to $2.3 billion, contingent on stable market conditions amidst COVID-19. The company's global portfolio encompasses various footwear brands, positioning it well for recovery and growth.
Wolverine World Wide (NYSE:WWW) announced key leadership appointments aimed at driving international growth. Isabel Soriano has been appointed President of International, overseeing all international operations after her success leading EMEA. Katherine Cousins joins as Global Brand President of Sperry, focusing on accelerating global omni-channel growth. Soriano, with a background in brands like Vans and Timberland, aims to leverage her experience for broader market expansion. Cousins, a seasoned executive from VF Corporation, will enhance Sperry's success in digital and retail.
Wolverine World Wide reported strong Q1 2021 results, with revenue of $510.7 million, a 16.3% increase year-over-year. Key brands Merrell and Saucony saw revenue growth of nearly 25% and 60%, respectively, driven by an accelerated digital strategy and consumer demand. ECommerce grew 84%, while gross margin expanded to 43.5%. The company raised its full-year revenue forecast to $2.24 to $2.30 billion, projecting 25% to 28% growth. Reported EPS were $0.45, up from $0.16 the previous year. Despite industry supply chain issues, cash flow improved significantly, and total debt decreased by over $505 million.
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