All Wolverine Worldwide articles – Page 2
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News briefsSweaty Betty’s CEO and COO to step down
Sweaty Betty’s chief executive Julia Straus and chief operating officer Mark Smith are both set to leave the company. The pair will step down from the business in the summer of 2023. Replacements have not yet been announced. An official statement from Sweaty Betty, first quoted in Drapers, confirmed: ”After ...
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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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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 ...
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ArticleWolverine Worldwide’s profitability will be impacted by inventory reductions
Wolverine Worldwide reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings. Wolverine says final earning results, when reported next month, will be at the low end of ...
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ArticleAnalysis: Sporting Goods Scorecard Q3 2022 – The top performers by sales and profit
Our Q3 Scorecard includes the revenue and profit development of 42 major sporting goods companies.
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ArticleWolverine Worldwide announces divestitures, staff cuts
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 establishes new brand structure, sets bigger focus on profit
Shares in the Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent yesterday after the company missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent currency-neutral revenue growth ...
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News briefsWolverine Worldwide appoints new lead independent director
Source: Business Wire Nicholas T. Wolverine World Wide, Inc. announced the appointment of Nicholas T. “Tom” Long as lead independent director of the company’s board of directors, effective Nov. 4, 2022. Long, who has been a member of Wolverine Worldwide’s board of directors since 2011 and currently ...
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Infographics & DataThe international outdoor footwear market 2021
This exclusive, yearly analysis includes the market size as well as revenues, market shares and growth for the leading outdoor footwear brands for 2021 and 2020.
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Infographics & DataAnnual advertising expenses 2021
These exclusive, yearly charts shows advertising expenses for 13 major global sportswear brands for the year 2021 and their year-on-year change.
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News briefsSweaty Betty posts 45% sales increase, helped by digital
Sweaty Betty, the U.K.-based brand of women’s fitness apparel, saw its turnover rise by 45 percent in 2021 compared to 2020, with revenues for the full year reaching £183.2 million (€212.3 million), mainly as a result of the strong trading performance across its digital channels. Physical shops continued to be ...
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ArticleSporting goods industry stocks down in Q3
According to SGI Europe’s quarterly study of 40 select sporting goods industry stocks, the drop was less than in Q1 (-16.25%) and Q2 (-14.79%) but marked the third consecutive quarterly decline for the segment. But the results were mixed, as the stock prices of 19 companies – led by Xtep ...
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News briefsPreliminary approval for Wolverine and 3M’s proposed PFAS settlement
U.S. District Judge Hala Jarbou has, according to Outside, granted preliminary approval to the settlement between Wolverine Worldwide and 3M, defendants, and landowners around Rockford and Belmont in Kent County, Michigan, plaintiffs, in the PFAS case we reported on about a week ago. The companies have proposed to pay $54 ...
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News briefsNFW Footwear Collective is growing
New Balance and Wolverine Worldwide have joined Natural Fiber Welding’s (NFW) Footwear Collective, a cooperative platform aiming to promote widespread adoption of low carbon, biobased materials from nutrients, which are safe to return to the earth at the end of a product’s life. Through the Footwear Collective, NFW and its ...
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News briefsWolverine and 3M aim to settle the PFAS class action against them
Wolverine Worldwide and 3M have reached a settlement with landowners around Rockford and Belmont in Kent County, Michigan, as our American colleagues at SGI are reporting. Facing a class-action lawsuit over the contamination of local drinking water by tannery sludge (in the form of per- and polyfluoroalkyl substances, or PFAS), ...
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ArticleAnalysis: Sporting Goods Scorecard Q2 2022 - The top performers by sales and profit
Our Scorecard includes the revenue and profit development of 43 major sporting goods companies.
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Infographics & DataSporting Goods Scorecard Q2 2022 - The top performers by sales and profit
This exclusive chart and data can be downloaded by our Premium Members.
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News briefsSaucony boosts its retail presence in Spain
Saucony, a brand of Wolverine Worldwide, is planning to open around 20 shop-in-shops at El Corte Inglés’ department stores across Spain between 2022 and 2023, Modaes has reported. Specifically, between ten and twelve will open in the fourth quarter of 2022, devoted to its Originals product line (fashion). Six or ...
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ArticleWolverine outperforms in Q2, but lowers FY forecast
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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