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. reports developments tied to a branded footwear and apparel portfolio that includes Merrell, Saucony, Sweaty Betty, Hush Puppies, Wolverine, Chaco, Bates, HYTEST and Stride Rite, along with licensed Cat and Harley-Davidson footwear. The company designs, markets and licenses casual, outdoor, athletic, kids, industrial work and uniform footwear and apparel sold through retailers in the United States and international markets.
Recurring news covers quarterly results and conference calls, board-declared cash dividends, brand collaborations such as Chaco product collections, Work Group leadership and product-innovation updates, and marketing technology initiatives involving Merrell and Saucony. Company updates also discuss brand performance, direct-to-consumer trends, gross margin drivers, tariffs, foreign currency and portfolio changes such as the prior Sperry sale.
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.
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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.
Wolverine World Wide’s Merrell brand has been awarded Brand of the Year at the Footwear News Achievement Awards, set for November 30 in New York. The brand is recognized for its commitment to making the outdoors more accessible and diverse, exemplified by initiatives like a women's hiking club and support for urban green spaces. Recent accolades also include honors for product innovation, such as the Moab 3 hiking boot. Merrell’s focus on sustainability and community engagement underlines its leadership in the outdoor footwear market.
Wolverine World Wide announces Nicholas T. Long as the new Lead Independent Director, effective November 4, 2022. Long, who has been on the board since 2011, succeeds Dr. David T. Kollat. He brings over 30 years of experience from major brands, including MillerCoors and Coca-Cola. Long's leadership will focus on strategic objectives in brand-building and marketing. The company expresses gratitude to Kollat for his long service since 2007 during critical transitions.
Wolverine World Wide declared a quarterly cash dividend of $0.10 per share, payable on February 1, 2023, to shareholders on record as of January 2, 2023. This dividend matches the previous quarter's payout and indicates an annual dividend of $0.40 per share. Founded in 1883, Wolverine is a leading marketer of branded footwear and apparel, operating across 170 countries through a portfolio that includes brands like Merrell, Saucony, and Sperry. The company's commitment to dividend payments reflects ongoing confidence in its financial stability.
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Wolverine World Wide (NYSE: WWW) will announce its third quarter fiscal 2022 earnings on November 9, 2022, at 6:30 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results and current business trends. Interested participants can join the call by dialing 1-877-407-4018 (1-201-689-8471 for international callers). A recorded replay of the call will be available until December 9, 2022.
Wolverine, based in Rockford, Michigan, is a leading footwear marketer and licensor with a diverse brand portfolio.