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.
Wolverine Boots and Old Rip Van Winkle Distillery have unveiled Batch IV of their collaborative 1000 Mile Boot for Bourbon Heritage Month. This -edition boot, inspired by Old Rip Van Winkle 10 Year bourbon, features lux leather uppers, a wedge sole, and a hand-numbered Old Rip Van Winkle woven label. Designed in Michigan and handcrafted in Arkansas, the boot retails at $424.95 and is available on wolverine.com/oldrip.
The collaboration aims to celebrate American craftsmanship and support the workforce. A portion of proceeds will be donated to SkillsUSA, a workforce development organization for students. This partnership between the 141-year-old boot company and the renowned distillery continues to blend heritage, craftsmanship, and quality in each product iteration.
Merrell, the leading outdoor footwear brand, is launching an interactive 'Wander Wheel' art installation in New York City from September 27-29, 2024. Located at Studio 525 in Chelsea, this immersive experience allows visitors to explore four global natural environments without leaving the city. The installation features a large, slowly spinning wheel that simulates diverse landscapes, including California's flowering hills and Australia's Outback.
Open to the public, the Wander Wheel aims to make nature more accessible to urban dwellers, aligning with Merrell's mission to share the benefits of outdoor experiences. Visitors can 'hike' endlessly within the wheel, wearing Merrell's Moab Speed 2 hiking boots. The installation includes sensory elements like natural audio and scents to enhance the immersive experience.
Cat Footwear, a division of Wolverine World Wide, Inc. (NYSE: WWW), has launched the Invader Max, a new addition to its popular Invader Franchise. This waterproof, composite toe work boot is inspired by Cat Inc.'s heavy-duty machinery and designed to dominate any terrain. The Invader Max features:
- Unparalleled composite toe protection with waterproof construction
- Tire-tread inspired outsole with slip-resistant technology
- Fully contoured EVA midsole for maximum comfort
- Streetwear flair with overbuilt hardware and chunky outsole
Priced at $164.95, the Invader Max is now available on catfootwear.com and at participating retailers nationwide.
Saucony, a global performance running lifestyle brand, has announced the global launch of its third collaboration with Bronx native Jae Tips - the 'To-Do List' Collection. Set to release on September 20 at Saucony.com, the collection features two colorways of the ProGrid Omni 9 and two kids' Shadow 6000s. Inspired by Bronx lifestyle, the sneakers boast vibrant colors, custom sock liners, and graphic heel prints. This collaboration follows Saucony and Jae Tips' award-winning year in 2023, receiving the FNAA Collaboration Of The Year award. In-store events are planned across the country, allowing fans to meet Jae Tips and purchase the collection ahead of the global release.
Wolverine, the 141-year-old boot and clothing company, has expanded its NIL partnership with University of Michigan football players to include skilled trades professionals, forming the 'Blue-Collar Crew'. This campaign aims to highlight that being blue-collar is a mindset, not just a line of work. The roster includes eight Michigan football athletes and four trades professionals, along with three Michigan high school students pursuing trades education.
Alongside this initiative, Wolverine has launched the 'Maize and Blue-Collar Collection', a -edition line of University of Michigan branded gear. A portion of sales will benefit Champions Circle, the university's NIL collective. The collection includes hooded canvas and flannel shirt-jacs, a moc toe work boot, and a commemorative 1000 Mile Boot.
Saucony, a global performance running lifestyle brand, has announced the launch of the -edition Black Girls RUN! x Saucony Endorphin Speed 4 running shoe. This marks Saucony's first footwear collaboration with Black Girls RUN! (BGR!) as part of their multi-year partnership. The shoe will be available for presale at the BGR! Sweat With Your Sole Conference 2024 from September 5-7 in Chicago, with a full release on September 16 at saucony.com and select Fleet Feet locations.
The BGR! x Saucony Endorphin Speed 4 features BGR!'s signature hot pink and black colorway and incorporates Saucony's award-winning technology, including SPEEDROLL™, PWRRUN PB™, and an engineered plate. Priced at $170.00, the shoe is available in women's sizes 5-13 and comes with a custom keychain and string bag.
Wolverine, established 141 years ago, has unveiled the DuraShocks® SR Icon 6" Work Boot, reinforcing its dedication to performance comfort. The new boot, part of the DuraShocks® franchise, emphasizes stability, comfort, and safety. Key features include increased PU in the midsole for enhanced support, a lightweight CarbonMAX® toe, and WaterproofPlus technology for dry feet. Available in various styles, including safety-toe, soft-toe, and different heights, the DuraShocks SR Icon is now offered nationwide and on wolverine.com.
Wolverine Worldwide (NYSE: WWW) reported better-than-expected Q2 2024 revenue and earnings, prompting a raise in the mid-point of fiscal year 2024 guidance. Key highlights include:
- Ongoing total revenue of $424.8 million, down 18.4% year-over-year
- Gross margin improved to 43.1%, up 440 basis points
- Adjusted diluted EPS of $0.15, down 21.1% from $0.19 in Q2 2023
- Inventory reduced by 54.1% to $297.1 million
- Net debt decreased by $271 million to $666 million
For FY2024, WWW expects:
- Revenue of $1.71-$1.73 billion
- Gross margin of 44.5%
- Adjusted operating margin of 7.4%
- Adjusted diluted EPS of $0.75-$0.85
Wolverine, the 141-year-old boot and clothing company, has partnered with Metallica Scholars for the fifth time to launch a -edition collection supporting skilled trades workers. The centerpiece is the Wolverine x Metallica Scholars Rancher Boot, retailing at $169.95, which features a western silhouette with custom skull artwork. Half of the proceeds from this collection will benefit Metallica Scholars, an initiative of Metallica's All Within My Hands foundation.
The collection also includes apparel and accessories such as a trucker hat, t-shirt, bandana, and socks. This collaboration aims to address the critical shortage in the skilled labor workforce and support the next generation of skilled workers. The -edition collection is now available on wolverine.com.
Wolverine World Wide (NYSE: WWW) has declared a quarterly cash dividend of $0.10 per share of common stock. The dividend is payable on November 1, 2024, to stockholders of record on October 1, 2024. This dividend maintains the same level as the previous quarter, indicating an annual dividend of $0.40 per share. The consistent dividend payout demonstrates the company's commitment to providing regular returns to its shareholders, potentially signaling confidence in its financial stability and future prospects.
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