All Merrell articles
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News briefsWolverine Worldwide expands global reach with new licensing deals
Wolverine Worldwide has inked two new global licensing deals as part of its strategic evolution into a brand-focused growth entity. Vida Shoes International will take on the role of global licensee for Merrell and Saucony kids footwear under the first agreement. This partnership grants Vida rights to these products across ...
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ArticleXtep Intl. annual profit hits all-time high
The Chinese group Xtep Intl., which took 100 percent ownership in the Saucony and Merrell businesses in China earlier this year, generated 7.9 percent operating income growth in FY23 to 1,579.9 million yuan renminbi (€201.5m) on 10.9 percent annual revenue growth to RMB 14,345.5 million (€1.83bn). The annual gross margin ...
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ArticleWolverine makes progress on turnaround but more bumps likely
Wolverine Worldwide’s CEO leads turnaround, aiming for $140M profit gains in 2024. Despite Q4 losses, strides made in inventory and debt.
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ArticleWolverine Worldwide on expected FY course, update on transformation
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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News briefsXtep purchases Wolverine’s stake in joint venture
Xtep Intl. is paying Wolverine Worldwide $61 million for its share of a joint venture that the two companies established in 2019 for the distribution of the Saucony and Merrell brands in Greater China, Hong Kong and Macau. Additionally, due to the early success and profitability of the Saucony brand ...
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ArticleWolverine Worldwide lowers outlook as overhaul moves forward
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 Worldwide accelerates transformation plan
Wolverine World Wide, Inc., the owner of a large brand portfolio, including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies and Wolverine, announced actions to accelerate its ongoing strategic transformation into a “brand-led and consumer-obsessed growth company.” Chris Hufnagel, President and CEO, said: “We are moving with speed and urgency to ...
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News briefsXtep Intl. releases Q3 update
Retail sell-through for the Chinese company’s core Xtep brand, including online and in-store sales, rose by high teens year over year. Meanwhile, the company said there was a 25 to 30 percent discount level during the three months ended Sept. 30 with an inventory turnover level of 4.5 to 5.0 ...
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ArticleXtep Intl. nets H1 profit from Saucony business
Xtep Intl., the publicly traded Chinese company, whose business models consists of its own label for the nation’s mass market and four western brands (K-Swiss and Palladium, globally, and joint ventures for Merrell and Saucony in Mainland China) targeting the premium market, reported a 12.7 percent increase in H1 profitability ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was yesterday named the President and CEO of Wolverine Worldwide, Inc (WWW) 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 ...
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News briefsNew CEO for Wolverine World Wide
Wolverine World Wide, Inc. announced that it has appointed Christopher Hufnagel, current President of Wolverine, as President, Chief Executive Officer, and member of the Board of Directors, effective immediately. He succeeds Brendan Hoffman, who is no longer with the company. Source: Wolverine World Wide New CEO of Wolverine ...
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News briefsWolverine Worldwide amends credit facility
The deal, a fourth amendment to its existing credit agreement, will give the Merrell and Saucony parent more near-term financial and operational flexibility for the remainder of its fiscal year as it continues implementing its turnaround plan. Wolverine’s maximum consolidated ratio under the new amendment moves to 4.875x Ebitda from ...
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ArticleWolverine Worldwide appoints new company president and key brand leaders
Wolverine World Wide, Inc. (WWW), owner of lifestyle and footwear brands including Merrell, Saucony, Sperry, Sweaty Betty, Hush Puppies, Wolverine, Chaco and Stride Rite, this week made several executive appointments. The changes were made “to help drive future growth and accelerate its global brand-building efforts” and build on the strategic ...
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ArticleWolverine explores options for Sperry as Q1 beats forecasts but conditions tighten
Wolverine Worldwide reported better-than-expected first quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit ...
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Sponsored“Expect four packed halls.” A preview of this year’s OutDoor by ISPO
More packed than ever! Exhibition Director Lena Haushofer gives us an exclusive peak into what to expect at 2023’s OutDoor by ISPO.
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Infographics & DataYue Yuen’s 2022 shoe manufacture volume by region
We bring you a breakdown of Yue Yuen’s shoe manufacture volume by region
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News briefsWolverine Worldwide names new chairman, 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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ArticleYue Yuen delivers solid FY results, but warns about gathering headwinds
Bolstered by its manufacturing segment, Yue Yuen reported a 158 percent increase in annual operating income to $416.8 million in FY22 on a 5 percent revenue expansion to $8.97 billion from $8.53 billion. Net income grew by 106 percent to $293.2 million as the annual gross margin dropped slightly to ...
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ArticleEvolving Wolverine Worldwide forecasts meaningful profit progress 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 briefsWolverine sells Keds to North American retailer
Wolverine Worldwide has divested Keds, which it acquired in 2012 as part of its $1,249.5 million acquisition of the assets of the former Performance Lifestyle Group (PLG), for $83.6 million in cash to North American retailer Designer Brands Inc. The sale also includes the Pro-Keds athleisure brand and Keds’ e-commerce ...
