Wolverine World Stock Price, News & Analysis

Merrell, the leading outdoor footwear brand, has launched a collaboration with Northern Cheyenne artist Jordan Ann Craig, showcasing Indigenous artwork across a new collection of footwear and accessories. This partnership features five footwear styles and apparel items, integrating Craig's designs to celebrate Indigenous culture. The launch coincides with Merrell's Inclusivity in the Outdoors Report, highlighting barriers faced by Indigenous Peoples in outdoor spaces. Additionally, Merrell is donating $45,000 to support the Fort Robinson Outbreak Spiritual Run, with proceeds from sales benefitting the event. The collection aims to bridge art and outdoor exploration.

Wolverine World Wide, Inc. (NYSE: WWW) has announced a quarterly cash dividend of $0.10 per share, payable on May 1, 2023, to stockholders recorded by April 3, 2023. This maintains the company's previous dividend and results in an annualized dividend of $0.40 per share. Established in 1883, Wolverine is a leading marketer of branded footwear and apparel, including well-known brands like Merrell, Saucony, and Sperry. Their products are distributed in the U.S. and approximately 170 countries worldwide.

Wolverine World Wide (NYSE: WWW) has announced the sale of its Keds brand to Designer Brands, Inc. and plans to grant an exclusive license for Hush Puppies footwear in the US and Canada to DBI. These transactions, effective February 4, 2023, for Keds and anticipated on July 1, 2023, for Hush Puppies, aim to simplify Wolverine's portfolio and enhance profitability. Combined, the transactions are expected to generate over $90 million in cash, which will be used to reduce debt and improve capital structure. The upcoming earnings call on February 22, 2023, will provide further insights into the impact of these agreements.

Wolverine World Wide, Inc. (NYSE: WWW) announced it will report its fourth quarter and full year fiscal 2022 financial results on February 22, 2023, at approximately 6:30 a.m. ET. A conference call is scheduled for 8:30 a.m. ET to discuss these results and current business trends. Interested investors and analysts can dial in starting five minutes prior to the call, and it will also be available via live webcast on the company’s website. A recorded replay will be accessible shortly after the call until March 22, 2023. Wolverine is recognized globally as a leading marketer of branded footwear and apparel.

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.