Wolverine Worldwide news and archive

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...

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Sweaty Betty names Melissa Mullen as president

Women’s activewear brand Sweaty Betty, which was acquired by American footwear group Wolverine Worldwide in 2021, has named Melissa Mullen as its new global brand president. Mullen, described as a “seasoned consumer-focused and omnichannel retail leader,” in the press release, was most recently vice-president and general manager of UK and...

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Wolverine Worldwide taps new president amid wider leadership changes

Wolverine Worldwide has announced a number of changes to its leadership team, including Chris Hufnagel as new company president. Company veteran Hufnagel has spent the last 14 years at the business, most recently serving as president of the company’s Active Group, and previously serving as global brand president of Cat Footwear. Hufnagel has...

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Wolverine Worldwide Q1 sales drop 2.5 percent

First quarter revenue of 599.4 million dollars at Wolverine Worldwide declined 2.5 percent versus the prior year and declined 0.5 percent on a constant currency basis. The company said revenue from the ongoing business was 580.4 million dollars representing constant currency growth of 2.9 percent. The company's international business rose 12.6...

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Wolverine places Sweaty Betty under London-based international group

Wolverine World Wide has announced that Sweaty Betty, the women’s activewear brand acquired in August 2021, will now report into the company’s London-based international group led by Isabel Soriano, which is responsible for the operations outside the US. This move, the company said, “will more closely align Sweaty Betty with Wolverine’s global...

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Sweaty Betty CEO and COO step down

Sweaty Betty is to bid goodbye to its CEO and COO as the athleisure brand restructures following its takeover in 2021. The Notting Hill-founded company, which launched in the late 1990s was bought for 300 million pounds by Wolverine Worldwide, an American footwear manufacturer based in Michigan. The transformation will see chief executive Julia...

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Tom Long to replace Blake Krueger as Wolverine Worldwide chairman

Wolverine World Wide, Inc. has announced that its chairman and retired CEO, Blake Krueger, will be retiring from the board on May 4, 2023. Tom Long, the board’s lead independent director, has been appointed to serve as chairman upon Krueger’s retirement. “On behalf of the board of directors, I would like to thank Blake for his many years of...

Business

Wolverine Worldwide posts Q4 loss

For the fourth quarter, Wolverine World Wide, Inc. revenue of 665 million dollars, rose 4.6 percent or 8.4 percent on a constant currency basis. The company reported a net loss of 361.6 million dollars or 4.59 dollars per share and adjusted diluted loss per share of 15 cents for the quarter. The company's international business increased 22.2...

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Designer Brands acquires Keds brand from Wolverine Worldwide

Designer Brands Inc. has completed the acquisition of Keds from Wolverine Worldwide. "Our growing strength in owned Brands is evident, given that just twelve months ago, the athleisure category was a massive white space opportunity for us, and we now control high-quality brands across multiple price points," said Doug Howe, incoming chief...

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Wolverine Worldwide expects earnings at low end of guidance range

Updating its outlook, Wolverine World Wide, Inc. said that the company expects fiscal 2022 full-year revenue of 2.685 billion dollars, representing approximately 11 percent growth and 14 percent on a constant currency basis. Fourth quarter revenue is expected to reach approximately 665 million dollars, representing approximately 5 percent growth...

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Wolverine Worldwide to reduce workforce, divest Keds brand

Wolverine World Wide, Inc. has started a formal process to divest or licence the Keds brand and Wolverine Leathers business, both of which, the company said, are low-profit contributors. In connection with these brand and organisational changes, the company initiated a workforce reduction earlier this week and expects theinitiative to result in...