Wolverine World Stock Price, News & Analysis

On January 14, 2021, Merrell, a leader in outdoor footwear, announced a multi-year partnership with Big Brothers Big Sisters (BBBS) to enhance youth access to outdoor activities in the U.S. and Canada. This collaboration aims to break down barriers faced by youth, particularly in the wake of increased social isolation during the COVID-19 pandemic. Merrell will provide financial support and outdoor gear to mentoring programs, promoting mental and physical health benefits associated with outdoor activities.

Wolverine Worldwide announces the appointment of Jim Zwiers as President, Global Operations Group, effective immediately. Zwiers, who has been with the company for 23 years, will also continue as President, International Group. His role involves overseeing sourcing, logistics, distribution, and IT. Zwiers succeeds Mike Jeppesen, who is retiring after 33 years in the industry but will remain in an advisory capacity until mid-year. This leadership change aims to enhance the company's digital transformation and global eCommerce initiatives.

Wolverine Worldwide has appointed Matt Blonder as President of Global eCommerce to drive digital transformation and boost online sales. Blonder, with over 20 years of experience, previously led digital initiatives at Reebok. The company aims for $500 million in global eCommerce revenue in 2021, capitalizing on shifts in consumer behavior towards online shopping. This appointment supports Wolverine's strategy to enhance consumer connections and brand engagement in a digital-first market.

Wolverine Worldwide reported Q3 2020 results with revenue of $493.1 million, down 14.1% year-over-year. Despite the decline, strong performance in eCommerce, which grew over 56%, was notable. The company’s gross margin decreased to 41.0%, and diluted earnings per share were $0.27, down from $0.57 last year. Cash flow from operations improved significantly to $96.5 million. Looking ahead, management expects Q4 revenue to decline by no more than 25% year-over-year, attributing challenges to the ongoing pandemic but expressing confidence in future growth opportunities.

Wolverine World Wide (NYSE: WWW) announced a quarterly cash dividend of $0.10 per share, reflecting an annual dividend of $0.40. The dividend will be payable on February 1, 2021, to stockholders of record as of January 4, 2021. This maintains the same dividend level as the previous quarter, demonstrating the company's commitment to returning value to shareholders.

Wolverine World Wide (NYSE: WWW) has announced it will release its third quarter 2020 financial results on November 5, 2020, 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, which will be accessible via the Investor Relations section of the company's website. Founded in 1883, Wolverine is a leading global marketer of branded footwear and apparel, with significant presence across 170 countries and territories.

Wolverine Worldwide (NYSE: WWW) has appointed Brendan Hoffman as its new President, effective September 8, 2020. Hoffman, with 30 years of experience in merchandising and digital marketing, previously served as CEO of Vince Holding Corp. and has a solid track record in enhancing eCommerce growth. The leadership transition is part of a multi-year succession plan announced by current CEO Blake W. Krueger. Hoffman aims to drive growth across the company's lifestyle brands and adapt to the evolving global marketplace while focusing on consumer direct strategies.

Wolverine has partnered with Metallica's nonprofit, All Within My Hands, to launch a unique initiative aimed at supporting the American workforce. This collaboration will provide scholarship funding to trade school students and promote two special edition boots inspired by Metallica. The Metallica Scholars 1000 Mile Axel and Hellcat UltraSpring™ boots will be available for pre-order, with all proceeds benefiting AWMH. Each boot is designed with Metallica-themed features and Wolverine's quality materials. The initiative includes a $100,000 grant to three community colleges to bolster workforce education.