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, 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.
Wolverine, the 141-year-old boot and clothing company, has launched a -edition Wolverine x University of Michigan Team #144 Commemorative 1000 Mile Boot. This special edition boot celebrates the Wolverines' 2023 College Football Playoff National Championship victory. Crafted in the USA, the boot features premium qualities of Wolverine's 1000 Mile collection, along with unique details honoring Team #144:
- Custom 144 foil-stamp
- Block M tongue label and debossed heel
- Blue leather with maize stitching
- Vibram tap sole
- Commemorative leather hangtag keychain
The -edition boots are available for purchase at $500 on wolverine.com.
Wolverine World Wide (NYSE: WWW) has announced its upcoming second quarter fiscal 2024 financial results conference call, scheduled for August 7, 2024. The company will release its financial results at approximately 6:30 a.m. ET, followed by a conference call at 8:30 a.m. ET to discuss the results and current business trends.
Investors and analysts can join the call by dialing 1-800-579-2543 (or 1-785-424-1789 for international callers). The call will also be broadcast live on the company's website under the Investor Relations section. A recorded replay will be available until September 7, 2024, accessible by dialing 1-844-512-2921 (or 1-412-317-6671 for international callers) with the access code 11156544.
Saucony has launched the redesigned Hurricane 24, featuring an innovative dual-cushioning system combining PWRRUN PB and PWRRUN foams for exceptional comfort and protection. This max-cushioned trainer includes CenterPath Technology, offering a broader platform, higher sidewalls, and a rocker shape to guide the runner's stride. The shoe also features a breathable mesh upper and adaptive lacing for a secure fit.
Available from July 1 on saucony.com and select retailers, the Hurricane 24 is priced at $160 and comes in various sizes for men and women. The shoe is vegan and made with recycled materials, emphasizing sustainability. Chief Product Officer Brian Moore highlights its suitability for various activities, from long runs to everyday comfort, marking the return of Saucony's most cushioned trainer after a two-year hiatus.
Saucony has announced that its sponsored athlete, Canadian Olympian Malindi Elmore, will wear the new Endorphin Elite 2 shoes during the upcoming marathon in Paris. The Endorphin Elite 2 features a cutting-edge foam designed to enhance athletic performance. Elmore, a seasoned athlete with three Olympic appearances, recently won the Canadian 10km Championships at age 44, wearing these innovative shoes. The Endorphin Elite 2 will be available for purchase on July 1, 2024, at 10:00 am EST on saucony.com, with a global launch planned for Spring 2025 at select retailers.
Saucony, a division of Wolverine World Wide (NYSE: WWW), has appointed Joy Allen-Altimare as the new global chief marketing officer, effective immediately. Allen-Altimare brings over 24 years of experience in brand innovation and marketing leadership, having previously served as chief revenue officer for Havas Media Network and chief marketing officer at Kindbody. In her new role, she will oversee Saucony's global branding initiatives, including brand positioning, direct-to-consumer strategies, digital strategies, and international growth. Allen-Altimare will report directly to Rob Griffiths, Saucony's global brand president, and will join the senior leadership team. This appointment is part of Saucony's strategy to accelerate transformative growth and establish a consumer-focused brand and inclusive workplace culture.
Allen-Altimare's expertise includes addressing growth, innovation, and technology challenges, aligning with Saucony's goals to enhance its market presence and consumer relevance. Her commitment to diversity, equity, inclusion, and sustainable practices underscores Saucony's mission to inspire through running culture and innovation.
Saucony, a global performance running brand, has signed Sam Chelanga, a notable American track and field athlete. Chelanga, a seven-time USA Track and Field Champion and 2023 Pan Am Games 10,000m Silver Medalist, aims for the Paris 10,000m. He holds a record of four NCAA titles and set an NCAA 10,000m record. In addition, Chelanga has a strong marathon presence, with a recent 2:08.50 at the Chicago Marathon and a third-place finish at Bolder Boulder 10k. Chelanga will enhance Saucony's Endorphin collection and assist in future product development. The brand highlights his resilient journey and anticipates his participation in the U.S. Olympic Trials in June and World Marathon Majors.
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