Welcome to our dedicated page for Wolverine World news (Ticker: WWW), a resource for investors and traders seeking the latest updates and insights on Wolverine World 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.
Wolverine World Wide (NYSE: WWW) has appointed Mike Maloney as Chief Product Officer of its Work Group. Maloney brings 19 years of footwear industry experience from companies including Adidas, Under Armour, Columbia Sportswear, and Designer Brands. He will oversee product development, merchandise strategy, and market expansion for brands including Wolverine, CAT Footwear, Bates, Harley-Davidson Footwear, Merrell Work and Hytest. Reporting to Work Group President Tom Kennedy, Maloney's expertise spans merchandising, product development, design, and marketing. His appointment aims to strengthen the company's portfolio approach and expand into adjacent categories, particularly lifestyle.
Sweaty Betty, the London-based women's activewear brand owned by Wolverine World Wide (NYSE: WWW), announces expansion with two new U.S. stores in Chicago's Southport neighborhood and Washington, D.C.'s Georgetown area, opened on November 16 and 18, 2024. The brand is also growing in the United Kingdom with new locations in Cardiff and Westfield London, bringing its UK store count to 85. The new U.S. stores will feature Sweaty Betty's premium activewear collection, combining feminine design with technical performance.
Wolverine and Jarritos have collaborated to launch a -edition Trade Wedge boot that combines workwear functionality with Mexican soft drink brand aesthetics. The boot features premium full-grain leather and canvas upper, oil and slip-resistant rubber outsole, and comes in Jarritos' signature lime and mandarin colors.
The collaboration aims to honor hardworking individuals while celebrating Mexican culture and heritage. Each pair includes a custom bottle opener and two sets of laces in Jarritos Mandarin and classic black. The -edition boot is available at wolverine.com/jarritos and select WSS retailers nationwide.
Wolverine Worldwide (NYSE: WWW) has opened a new 11,000-square-foot global Innovation Hub in Boston, Massachusetts. The facility will host design, development, and merchandising teams, including Saucony product team members. This opening follows recent workspace launches in Zhuhai, China, Hong Kong, and London's King's Place for the Sweaty Betty brand. The company is also renovating its Michigan headquarters, with new environments for Merrell and Saucony planned for Spring 2025. These workspace initiatives aim to foster creativity, collaboration, and innovation while attracting and retaining talent.
Chaco, a division of Wolverine Worldwide (NYSE: WWW), has launched the new CushZ Sandal, a lightweight comfort-focused footwear innovation. Priced at $80, the sandal weighs 50% less than the Z/1 Classic model and features an ultra-comfortable footbed with padded mesh collar. The CushZ is designed for casual use and incorporates REPREVE® recycled webbing made from recycled bottles. The product is certified by the American Podiatric Medical Association and maintains Chaco's signature adjustability features while focusing on sustainability and comfort.
Wolverine Worldwide (NYSE: WWW) reported Q3 2024 financial results above guidance, with total revenue at $440.2M, down 16.6% year-over-year. The company achieved record gross margin of 45.3%, up 450 basis points, and doubled earnings with diluted EPS of $0.28. Merrell and Saucony brands outperformed expectations, while inventory decreased 49.4% to $285.5M. The company raised its full-year 2024 guidance, now expecting revenue of $1.730-1.745B and adjusted diluted EPS of $0.80-0.90.
Wolverine World Wide (NYSE: WWW) has announced its Board of Directors' declaration of a quarterly cash dividend of $0.10 per share of common stock. The dividend will be paid on February 3, 2025, to stockholders recorded as of January 2, 2025. This quarterly payment maintains the previous dividend level and indicates an annual dividend of $0.40 per share.
Merrell and Jeep have announced their second footwear collaboration, featuring the Moab Speed 2 hiking boot inspired by the Jeep Wrangler 4xe. The collection will launch on November 12 in four colorways - High Velocity, Tuscadero Pink, Bright White, and Black - priced at US $180 and CA $190. The design incorporates automotive-inspired elements and features FloatPro™ Foam midsole, Vibram lugs, and recyclable materials. This follows their successful 2023 partnership featuring the Moab 3 hiking boot. The collection will be available through select retailers including Zappos in the U.S. and Sports Experts in Canada.
Wolverine Worldwide (NYSE: WWW) has appointed Susie Kuhn as President of the Company's Active Group, effective October 28, 2024. Kuhn will oversee Merrell, Saucony, and Chaco brands, as well as The Collective, the company's center-of-excellence for consumer insights and innovation. With over 25 years of experience in footwear, apparel, and retail industries, Kuhn previously served as Foot Locker's President of Europe, Middle East, and Africa. She brings expertise in global brand-building, wholesale, direct-to-consumer, merchandising, product development, and marketing from roles at Nike, Converse, and URBN.
Wolverine World Wide (NYSE: WWW) has scheduled its third quarter fiscal 2024 financial results announcement for November 7, 2024, at approximately 6:30 a.m. ET. The company will host a conference call at 8:30 a.m. ET to discuss results and current business trends. The call will be accessible to investors and analysts via phone and will be broadcast live on the company's website. A replay will be available until December 7, 2024.
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