All Wolverine Worldwide articles
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ArticleEmerging ‘proof points’ are positive news for Wolverine
In a self-proclaimed “transition year,” Wolverine Worldwide is beginning to witness ”proof points” that it hopes will signal an ongoing turnaround for the Saucony, Merrell and Sweaty Betty parent. These developments in Q1, where the company exceeded Wall Street’s revenue guidance, included higher gross margins, less promotion in the direct-to-consumer ...
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News briefsWolverine with new Chief Legal Officer and Corporate Secretary
Source: Business Wire Dave Latchana, Chief Legal Officer and Corporate Secretary of Wolverine Worldwide Wolverine Worldwide has announced the promotion of Dave Latchana to the position of Chief Legal Officer and Corporate Secretary, where he will oversee a wide range of functions, including legal, compliance, corporate communications, ...
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ArticleWolverine progresses with turnaround, but faces further setbacks
Six months on the job, Wolverine Wordwide President and CEO Chris Hufnagel had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time to complete ...
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ArticleWolverine Worldwide on FY course, Merrell to grow beyond trail
Wolverine World Wide, Inc. provided an update on its preliminary, unaudited financial results for FY 2023 and its ongoing transformation efforts ahead of its presentation at the 2024 ICR Conference this week. “We’re executing the stabilization phase of our strategic transformation with tremendous pace while redesigning Wolverine Worldwide for the ...
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Data & AnalysisGlobal outdoor footwear market grows 17.8%
2022 outdoor footwear sales are up. 5 companies represented just over 50% of all sales. Find all the sales, growth and market share numbers here.
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ArticleWolverine lowers outlook as transformation plan picks up pace
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income slid ...
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ArticleWolverine Q2 results slump, new CEO set to lead turnaround
Chris Hufnagel, who was just named the President and CEO of Wolverine Worldwide, Inc. with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and driving ...
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ArticleMycelium manufacturer raises over $30 million for global distribution
Ecovative Design LLC, a U.S. biological science and design company advancing mycelium technology to transform the industry with high-value, environmentally friendly materials, announced the initial closing of a Series E round of more than $30 million. $15 million of that will be reinvested in MyForest Foods Co, a subsidiary formed ...
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ArticleAnalysis: More than half of the outdoor stocks make gains in Q1
Our Q1 Outdoor Index includes the revenue and profit development of 37 major outdoor companies.
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News briefsWolverine Worldwide with new chairman and directors
Tom Long, the lead independent director for Wolverine Worldwide and former CEO of MillerCoors, LLC, will become chairman of Wolverine on May 4 following the retirement of Blake Krueger, chairman and retired CEO. Meanwhile, earlier this week, the parent of the Merrell and Saucony brands, among others, named three ...
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ArticleWolverine Worldwide forecasts significant increase in profits in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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News briefsMerrell names new U.S. VP of Sales
Source: Merrell Jessica Adler Wolverine Worldwide-owned Merrell has hired Jessica Adler as VP of U.S. sales. She will oversee the development of the brand’s U.S. wholesale strategy and report to Chris Hufnagel, Merrell’s global brand president. Adler previously worked in sales for Levi Strauss, Psycho Bunny and ...
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ArticleWolverine to divest Keds and leather business, announces staff reductions
Driven by a focus on increasing long-term shareholder value, Wolverine Worldwide is divesting or licensing its Keds brand and Wolverine leather business segments and is initiating an unspecified headcount reduction. The staff cuts are projected to result in approximately $30 million in savings for the company in 2023, and the ...
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ArticleWolverine lowers FY forecast again, unveils brand reorganization
Wolverine World Wide Inc. again lowered its full-year outlook after continuing supply chain constraints, increased promotional activity and deteriorating economic conditions weighed on third-quarter results, which came in below expectations. The company also announced a long-awaited reorganization of its brands to help cut costs and expand margins. Full-year revenue is ...
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ArticleRugged outdoor footwear market rebounds in 2021
After a disappointing 2020, impacted adversely by the global pandemic, the global branded outdoor shoe market returned to growth last year. Worldwide rugged outdoor footwear sales climbed 28 percent higher to $6,756 million in U.S. dollars in 2021, based on research conducted by the Outdoor Industry Compass in partnership with Sporting Goods Intelligence.
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ArticleWolverine beats expectations in Q2, but lowers FY guidance
Wolverine Worldwide, concerned about inventory escalation in various U.S. retail channels and the likelihood of higher wholesale order cancellations in the market for the remainder of the year, has lowered its FY22 outlook downward. Lingering supply chain delays and currency exchange rates also contributed to the revision. The adjustment was ...
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News briefsMerrell’s product incubator launches new trail running shoe collection
Merrell Test Lab (MTL), the brand’s product incubator where most technical and category disruptive innovations are conceived, has released a new elite trail running shoe collection. The new product line, debuting with the MTL Long Sky 2 and MTL MQM, has been engineered to guarantee trail-specific protection even in the ...
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ArticleAnalysis: Outdoor industry stocks fell more than 21% in Q2
Outdoor industry stocks fared worse in the second quarter than in the first period of 2022, declining an average of 21.18 percent compared to a 17.84 percent sequential drop in the average stock prices of companies primarily involved in the outdoor and bicycle sectors. This time around, our quarterly analysis ...
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News briefsChaco incorporates sandal webbings made from Repreve fibers
Chaco, a U.S. outdoor lifestyle footwear brand owned by Wolverine Worldwide, is underlining its commitment to sustainability by using sandal fabric tapes made from 100 percent recycled Repreve materials. Chaco is partnering with Unifi, whose Repreve fibers are the result of reusing 31 billion plastic bottles to date, which are ...
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ArticleWolverine delivers strong Q4 results; Merrell and Saucony with record annual revenue
Wolverine Worldwide swung to a better-than-expected annual profit and narrowed final-quarter losses, boosted by its recent acquisition of Sweaty Betty, the U.K.-based brand of women’s fitness apparel, and it forecast sales growth of 15-18 percent for 2022. The Michigan-based owner of Merrell, Saucony, Sperry, Keds and other brands reported a ...
