Wolverine World Stock Price, News & Analysis

Merrell, the leading hike brand, has launched its second collection in partnership with Unlikely Hikers, featuring diverse, size-inclusive footwear and apparel. This collection emphasizes extended sizing and ungendered designs, promoting inclusivity in the outdoors. Celebrating the diversity of outdoor enthusiasts, the collection includes the Moab 3 shoes and a range of apparel, available online in the U.S. and Canada.

Founded by Jenny Bruso, Unlikely Hikers aims to support underrepresented communities in outdoor spaces. The collaboration reflects Merrell's commitment to inclusivity, highlighted by research showing discrimination in outdoor settings.

Wolverine World Wide (NYSE: WWW) has updated its fiscal 2022 outlook ahead of the ICR Conference on January 10, 2023. The company anticipates a revenue of $2.685 billion for the full year, an 11% increase, and $665 million for Q4, reflecting a 5% growth. The efforts to reduce inventory led to a year-end figure of $805 million. However, earnings are expected to land at the lower end of previous guidance. Net debt decreased to $1.0 billion. The company continues to actively pursue sales of its Keds and Wolverine Leathers brands.

Merrell has appointed Jessica Adler as Vice President of US Sales, effective January 5, 2023. With nearly 20 years in retail, she is set to enhance the brand's US wholesale strategy and drive growth. Reporting to Chris Hufnagel, Global Brand President, Adler aims to foster strong customer partnerships and expand brand awareness. Her prior experience includes significant roles at Levi Strauss, Psycho Bunny, and Diesel USA. Merrell, a leader in outdoor footwear, recently earned Footwear News' 2022 Brand of the Year award for its commitment to inclusivity in outdoor activities.

Wolverine World Wide (NYSE: WWW) has initiated the process to divest or license its Keds brand and Wolverine Leathers business, aiming to enhance profitability. This decision aligns with the company's strategy to reduce complexity and prioritize growth-oriented brands. Wolverine anticipates achieving approximately $65 million in cost savings through various initiatives, including a recent workforce reduction expected to save approximately $30 million. Additionally, a new accounts receivable securitization program is expected to generate $175 million in cash flow.

Wolverine, a historic boot and clothing brand, has launched its third co-branded collection with Metallica Scholars on Giving Tuesday. The collection includes a shirt-jacket, hooded sweatshirt, graphic tee, knit beanie, and the Hellcat UltraSpring™ work boot. Notably, 50% of sales will support Metallica Scholars' trade education programs, contributing to their mission of fostering the next generation of skilled workers. Wolverine has previously donated over $500,000 to this initiative and aims to raise awareness for careers in skilled trades. The collection is available exclusively on Wolverine.com, with prices ranging from $15 to $165.

Merrell's Long Sky 2 trail running shoe has been recognized by TIME Magazine as one of the Best Inventions of 2022. Designed by the Merrell Test Lab, this shoe combines lightweight track shoe performance with hiking boot durability, featuring a Vibram Megagrip outsole for excellent traction. Key attributes include a FloatPro Foam midsole for reduced fatigue and quick-dry fabric, enhancing comfort in various conditions. Merrell's commitment to innovation and athlete-tested designs underscores its leadership in outdoor footwear.

Wolverine World Wide reported an 8.6% revenue increase in Q3 2022, reaching $691.4 million, but profits fell short of expectations due to supply chain disruptions and high promotional activity. Gross margin decreased to 40.2% from 43.2%, and diluted EPS rose to $0.48. International revenue grew 33% to $303 million, while direct-to-consumer sales increased 4.5% to $160 million. The company anticipates 2% to 6% revenue growth in Q4 with a negative impact from foreign exchange rates.

Wolverine World Wide (NYSE: WWW) announced a new brand group structure and the establishment of a Profit Improvement Office to enhance operational efficiency and improve margins. The organization will reorganize its brands into three segments: Active, Work, and Lifestyle. New leaders will head these groups to drive success. The goal is to achieve a consistent and enhanced revenue growth path, aiming for a 12% operating margin. The changes reflect a strategic approach to leverage brand synergies and provide better visibility for investors.