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.
News about Wolverine World Wide, Inc. (NYSE: WWW) reflects its role as a footwear and apparel company with a portfolio of global brands across outdoor, athletic, lifestyle, kids, and work categories. The company regularly issues press releases on financial performance, brand collaborations, partnerships, and corporate initiatives, giving investors and observers insight into how its brand-building model is being executed.
Brand-focused news often highlights activities from Merrell, Saucony, Wolverine, and other portfolio brands. For example, Merrell has announced collaborations such as the Merrell Moab 2 Siren x Gramicci, which reimagines a core hiking style, while Saucony has publicized creative partnerships and athlete agreements that underscore its positioning as a global performance running and lifestyle brand. Wolverine, described as America’s leading work boot brand, has announced partnerships that connect its work heritage with media properties and modern storytelling.
Corporate news from Wolverine Worldwide includes quarterly financial results, where the company reports revenue by segment such as the Active Group and Work Group, and discusses trends across brands like Merrell, Saucony, Sweaty Betty, and Wolverine. The company also issues updates on its transformation efforts, Global Impact Report, and recognition from industry and workplace organizations, including being named Company of the Year by Footwear News and receiving Great Place to Work certification.
Visitors to this news page can review company-issued announcements covering earnings releases, segment performance, brand collaborations, athlete partnerships, credit agreement amendments, governance updates, and impact reporting. Together, these items provide context on how Wolverine World Wide, Inc. manages its portfolio of footwear and apparel brands and communicates with shareholders, employees, and consumers.
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Wolverine World Wide, Inc. (NYSE: WWW) has successfully raised $550 million through the issuance of 4.000% Senior Notes due 2029. The proceeds were utilized to redeem all outstanding 5.000% Senior Notes due 2026 and 6.375% Senior Notes due 2025, which will save the company approximately $9.5 million in annual interest expenses. CFO Mike Stornant highlighted that the firm's strong cash flow and positive future outlook enabled this advantageous refinancing. The company is now well-positioned to continue investing in its growing performance brands, including Merrell and Saucony.
Wolverine World Wide (NYSE: WWW) announced the pricing of $550 million in 4.000% Senior Notes due 2029. The proceeds will be used to redeem existing higher-rate senior notes and cover related expenses. The offering is aimed at qualified institutional buyers and non-U.S. persons, and it is expected to close on August 26, 2021. The notes will be guaranteed by the Company's domestic subsidiaries. The company acknowledges risks, including economic impacts from COVID-19, supply chain disruptions, and changes in consumer preferences that may affect future performance.
Wolverine World Wide (NYSE:WWW) announced a $550 million offering of Senior Notes due 2029. The proceeds will be used to redeem existing notes and cover related expenses. The offering targets qualified institutional buyers and non-U.S. persons under applicable securities laws, without registration under the Securities Act. The notes will be guaranteed by the Company's domestic subsidiaries. Wolverine Worldwide, founded in 1883, markets a diverse range of branded footwear and apparel globally.
Designer Brands Inc. (DBI) announced an exclusive distribution partnership with Wolverine Worldwide (WWW) for Hush Puppies in North America. Starting in 2022, DSW Designer Shoe Warehouse will be the sole in-store distributor of Hush Puppies, enhancing its retail presence in the U.S. and Canada. This collaboration aims to align consumer profiles and elevate brand awareness. Hush Puppies will exit other North American retail channels while maintaining online sales. DSW operates over 600 stores and boasts 400 million e-commerce visits annually.
Hush Puppies, a division of Wolverine Worldwide (NYSE:WWW), has formed an exclusive distribution partnership with DSW Designer Shoe Warehouse to enhance its retail presence in North America. Effective 2022, DSW will serve as the sole in-store distributor of Hush Puppies, aiming to expand brand awareness and reach new consumers. The partnership aligns with both brands' consumer profiles, and Hush Puppies will maintain its eCommerce operations while exiting all other North American wholesale channels.
Wolverine World Wide (NYSE: WWW) has declared a quarterly cash dividend of $0.10 per share, payable on November 1, 2021, to stockholders of record as of October 1, 2021. This dividend matches the previous quarterly amount, signifying an annual dividend of $0.40 per share. Founded in 1883, Wolverine is a major player in the footwear and apparel market, renowned for its diverse brand portfolio, including Merrell, Saucony, and Hush Puppies, sold across approximately 170 countries.
L Catterton has sold its stake in Sweaty Betty, a women's fitness and lifestyle brand, to Wolverine World Wide (NYSE: WWW). Founded in 1998, Sweaty Betty aims to empower women and has grown into a global brand with a strong digital presence and selective wholesale partnerships. Over six years, L Catterton aided Sweaty Betty's expansion across Europe, the US, and Asia. The co-founders expressed gratitude for L Catterton's support in achieving their mission. The deal reflects Sweaty Betty's robust foundation for future growth and innovation.
Wolverine World Wide (NYSE: WWW) has acquired Sweaty Betty® for approximately $410 million. This all-cash transaction, finalized on August 2, 2021, aims to enhance Wolverine's position in the women's activewear market. Sweaty Betty, founded in 1998, operates predominantly through direct-to-consumer channels, generating over 80% of its revenue this way. This acquisition is expected to be accretive to earnings in its first year, aligning with Wolverine's strategic shift towards digital growth and expanding its product portfolio beyond footwear.
Wolverine World Wide (NYSE:WWW) reported record financial results for Q2 2021, with revenue of $631.9 million, an 81% increase year-over-year. Both Merrell and Saucony achieved all-time record quarterly revenue, contributing to over 40% growth compared to 2019. The company raised its fiscal 2021 revenue outlook by $150 million, anticipating revenue between $2.34 billion and $2.4 billion, representing 31% to 34% growth from 2020. Adjusted diluted EPS is expected to be between $2.20 and $2.30. Cash flow from operations was $25.4 million, while total debt decreased to $718.4 million.