Ponto, the sustainable footwear brand based in Encinitas, CA, hired Barry McGeough as brand president. Most recently, McGeough was the global vice president for product and digital innovation at Wolverine Worldwide.
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Wolverine Worldwide Amends Credit Agreement
Wolverine World Wide, Inc. entered into a fourth amendment of its existing credit agreement to add near-term financial and operational flexibility.
Wolverine Worldwide Appoints Sweaty Betty Brand President
Wolverine World Wide, Inc. appointed Melissa Mullen as global brand president of Sweaty Betty, the women’s activewear brand it acquired in August 2021.
Wolverine Worldwide Names Company President, New Leaders For Merrell And Saucony
Wolverine World Wide, Inc. named Chris Hufnagel as company president, promoted Janice Tennant to Merrell’s global brand president and named Rob Griffiths as global brand president of Saucony.
EXEC: Wolverine To Explore Sale Of Sperry; Saucony’s President Departs
Wolverine World Wide, Inc. reported first-quarter earnings that slightly exceeded expectations on strength at Merrell and Saucony while announcing that it was exploring the sale of its struggling Sperry business and revealing that Anne Cavassa, president of Saucony, had left the company.
Wolverine Q1 Sales Slip Despite Momentum For Merrell And Saucony
Wolverine World Wide, Inc. reported sales declined 2.5 percent in the first quarter ended April 1 as strong double-digit gains for Merrell and Saucony were offset by declines at Sperry and its work footwear brands. Results were in line with guidance and Wolverine affirmed its guidance for the year.
Wolverine Rolling Sweaty Betty Into International Group; CEO to Depart
Wolverine World Wide, Inc. reported it intends to improve operating performance, fuel global growth and enable future investments into Sweaty Betty, the women’s activewear brand it acquired in August 2021.
Wolverine Worldwide Announces New Board Chairman And Directors
Wolverine World Wide, Inc. reported today that its Chairman and retired CEO, Blake Krueger, will retire from the Board on May 4. Tom Long, the Board’s lead independent director, will assume the role of Chairman on May 4. The company also elected three new board members—Stacia Andersen, Jodi Bricker and DeMonty Price.
EXEC: Wolverine Worldwide Charts Path To Improved Profitability
Wolverine Worldwide reported fourth-quarter results that were in line with guidance but officials on a call with analysts gave a bullish outlook for profit improvement in the back half of 2023 as inventory and expense reduction efforts are already starting to pay off. For the current year, mid-single digit growth is expected for both Merrell and Saucony and low-single digits gains for Sweaty Betty.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
Wolverine World Wide Declares Cash Dividend
The Wolverine World Wide, Inc. Board of Directors declared a quarterly cash dividend of 10 cents per share of common stock.
Designer Brands Acquires Keds From Wolverine Worldwide
Designer Brands, the parent of DSW, reported it acquired Keds from Wolverine Worldwide. The company also expanded its agreement with Hush Puppies to include U.S. and Canadian licensing.
Wolverine’s Debt Rating’s Lowered Following Q4 Guidance Update
Moody’s downgraded the debt ratings on Wolverine World Wide, Inc. due to the footwear maker’s updated Q4 2022 guidance, which was lower than previously projected by Moody’s, as well as Moody’s expectation that leverage will remain high over the next 12-18 months.
Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings downgraded the debt ratings on Wolverine World Wide, Inc., citing the footwear company’s weakened operating performance over the past few quarters.
2023 ICR: Wolverine Looks To Simplify To Drive Growth
Speaking at the 2023 ICR Conference, Brendan Hoffman, president and CEO, Wolverine Worldwide, elaborated on how the company’s realigned reporting structure and 100-day plan are designed to “move the needle” and prioritize investments into its three biggest growth opportunities: Merrell, Saucony and Sweaty Betty. The realignment also led to its decision to divest Keds
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