Wolverine Worldwide news and archive

Wolverine Worldwide Q1 revenues drop 34 percent, names new CFO

Wolverine Worldwide revenues of 394.9 million dollars declined 34.1 percent or 34.6 percent on a constant currency basis. Revenues from the ongoing business were down 24.5 percent or 25.1 percent constant currency to 390.8 million dollars. Gross margin for the quarter improved 650 bps to 45.9 percent, while adjusted gross margin improved 250 bps...

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Wolverine Worldwide promotes Dave Latchana to chief legal officer

Wolverine Worldwide has appointed Dave Latchana as chief legal officer and corporate secretary, with oversight of the company’s legal, compliance, corporate communications, risk management, ESG and security and loss prevention functions. Latchana, the company said, has been at Wolverine Worldwide for nearly 16 years, joining Wolverine Worlwide...

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Merrell and Sweaty Betty collaborate on a hiking collection

Wolverine Worldwide sister brands, outdoor footwear brand Merrell and British activewear retailer Sweaty Betty have joined forces for the first time on an exclusive outdoor hiking capsule collection for women. Launching on March 25 on Merrell’s website and then on Sweaty Betty from April 2, the collaboration is in celebration of “sisterhood...

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Wolverine Worldwide Q4 revenues decline by 20.8 percent

Wolverine Worldwide’s fourth quarter revenue of 526.7 million dollars, declined 20.8 percent versus the prior year and declined 21.3 percent on a constant currency basis. Revenue from the ongoing business for the quarter was 521.2 million dollars and declined 18.4 percent on a constant currency basis. Revenue for the full year of 2,242.9 million...

Business

Authentic snaps up Sperry from Wolverine World Wide

In its latest acquisition as part of an ongoing spree, Authentic Brands Group, together with its long-time partner Aldo Group, has acquired the footwear label, Sperry. The duo snapped up the brand from Wolverine World Wide (WWW) in a deal that is set to generate total proceeds for the former owner of approximately 130 million dollars in the...

Business

Wolverine reaffirms FY23 outlook amid ‘stabilisation phase’ of transformation

Wolverine World Wide (WWW) has reaffirmed its financial outlook for the fiscal year 2023, during which time it said it was expecting full year revenue to hit 2.24 billion dollars, in line with November guidance. For the fourth quarter of the year, the company said it was forecasting revenues of 527 million dollars, while the gross margin is...

Business

Sweaty Betty posts full year loss, sales decline 8.5 percent

Sweaty Betty, now part of the Wolverine Worldwide, recorded a sales decline of 15.5 million pounds or 8.5 percent to 167.7 million pounds for the year to January 1, 2023. Accounts filed with the Companies House show that the company made a loss of 4.3 million pounds for the year compared to profit of 11.4 million pounds in the previous year....

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Wolverine World Wide appoints first chief supply chain officer

Wolverine World Wide has announced the creation of the role chief supply chain officer, which will be filled by the newly appointed Bishu Jayaram who will be responsible for global sourcing, distribution, logistics and more. Jayaram has already been with Wolverine for the past two years, serving as senior vice president of global sourcing...

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Wolverine sells Asia-based leather business, strenghtens Chinese joint venture

Outerwear group Wolverine World Wide has announced further efforts to advance the company’s ongoing transformation programme into a “consumer-obsessed growth category”. Among its newly revealed moves, Wolverine has said that it has secured a 61 million dollar agreement to sell minority ownership interest in the subsidiary that owns the Saucony...

Business

Wolverine Worldwide Q3 revenues drop 23.7 percent

Third quarter revenue of 527.7 million dollars declined 23.7 percent at Wolverine Worldwide versus the prior year and declined 24.7 percent on a constant currency basis. The company said in a release that revenue from the ongoing business was 519.5 million dollars and declined 21.1 percent on a constant currency basis. “In the third quarter, we...

Business

Wolverine offloads US leather business, sells IP of Hush Puppies in China

As part of its ongoing brand portfolio transformation, Wolverine World Wide (WWW) has opted to sell the intellectual property of its Hush Puppies brand in China, Hong Kong and Macau. The transaction, worth approximately 58.8 million dollars, was established with the company’s current sublicensee Beijing Jiaman Dress Co., which has entered into...

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Wolverine Worldwide names new CEO and lowers outlook

Wolverine World Wide, Inc. revenue of 589.1 million dollars declined 17.4 percent and declined 17.3 percent on a constant currency basis. Revenue from the ongoing business was 578.2 million dollars and declined 13.8 percent on a constant currency basis. The company also announced that Christopher Hufnagel has been promoted to president and chief...