Wolverine Global Reports Robust Second-Quarter Growth

Wolverine World Wide Reports Strong Q2 2025 Growth driven by Merrell and Saucony

Rockford, MI – July 10, 2025 – Wolverine World Wide Inc. (NYSE: WWW) today announced robust financial results for the second quarter of fiscal year 2025, exceeding expectations with significant growth in both revenue and profitability.The company, a leading footwear and apparel supplier, reported a turnover of $474.2 million for the three months ended June 28, representing an 11.5% increase compared too the same period last year. Adjusting for currency fluctuations, revenue growth reached 10.3%.

The strong performance was largely fueled by remarkable gains from its key brands, Merrell and Saucony. merrell saw a revenue increase of 10.7%, while Saucony experienced a substantial surge of 41.5%. These gains effectively offset declines in the Wolverine brand (-7.5%) and Sweaty Betty (-6.1%).

Improved gross margin, climbing from 43.1% to 47.2%, further contributed to the positive results. Operating profit jumped 39.9% to $40.7 million, and net profit attributable to shareholders soared 88.7% to $26.8 million. Diluted earnings per share increased from $0.17 to $0.32, and from $0.15 to $0.34 excluding exchange rate impacts.

“Our second quarter results exceeded our expectations, delivering the strongest revenue growth we’ve seen in several years,” stated Chris Hufnagel, CEO and President of Wolverine World Wide. “This growth, coupled with a record gross margin, more than doubled our earnings per share compared to the prior year.”

First Half 2025 Highlights

For the first half of fiscal year 2025, Wolverine World Wide reported total revenue of $886.5 million, an 8.1% increase year-over-year. Net profit attributable to shareholders reached $37.9 million, a significant turnaround from the $0.3 million loss reported during the first six months of the previous year.

Outlook for Q3 2025

Despite ongoing global economic uncertainties and evolving international trade policies, Wolverine World Wide remains cautiously optimistic. The company is forecasting revenue growth for the third quarter to be between 2.1% and 4.4%, projecting revenue between $450 million and $460 million. Diluted earnings per share are expected to fall between $0.24 and $0.28.

Management has refrained from providing full-year guidance due to the prevailing macroeconomic climate.

What specific factors contributed to the 150 basis point increase in gross margin?

Key Financial highlights – Q2 2025

Wolverine Global Inc. (NYSE: WWW) today announced strong financial results for the second quarter of 2025, demonstrating continued momentum in its transformation strategy. The company reported a net revenue increase of 12% compared to the same period last year, reaching $785 million. This growth is attributed to strong performance across key brands and channels, especially in direct-to-consumer (DTC) sales.

Here’s a breakdown of the key figures:

Net revenue: $785 million (up 12%)

Gross Margin: 48.5%, an increase of 150 basis points year-over-year. This enhancement reflects favorable pricing and a shift towards higher-margin DTC sales.

Operating Income: $110 million, a 20% increase compared to Q2 2024.

Earnings Per Share (EPS): $0.95,exceeding analyst expectations.

Direct-to-Consumer (DTC) Revenue: Increased by 25%, now representing 28% of total revenue.

Brand Performance: Driving the Growth

Several Wolverine Global brands contributed significantly to the positive Q2 results.

Merrell: Continued its strong trajectory, with revenue up 15% driven by prosperous new product launches in the hiking and trail running categories. The Merrell Moab 3 remains a top seller, and the brand’s expansion into sustainable materials resonated with consumers.

Saucony: Experienced a 10% revenue increase, fueled by strong demand for its running shoes, particularly the Kinvara and Triumph models.Strategic partnerships with running clubs and events boosted brand visibility.

Sperry: Showed promising signs of recovery, with revenue up 8% following a successful rebranding campaign focused on younger consumers and lifestyle applications.

Sweaty Betty: Continued to deliver exceptional growth, with revenue up 22% as the activewear brand expands its global footprint and product offerings.

strategic Initiatives Fueling Success

Wolverine Global’s growth isn’t just about strong brands; it’s about a focused strategy. Several key initiatives are driving these results:

1. DTC Expansion: Investing heavily in its e-commerce platforms and digital marketing capabilities. This includes personalized shopping experiences, enhanced mobile apps, and targeted advertising campaigns.
2. Supply Chain Optimization: Implementing initiatives to streamline its supply chain, reduce costs, and improve delivery times. This includes diversifying sourcing locations and leveraging technology to enhance visibility.
3. Sustainability Focus: Committing to sustainable practices across its operations, from sourcing materials to reducing waste. This resonates with environmentally conscious consumers and enhances brand reputation.Wolverine’s commitment to responsible manufacturing is a key differentiator.
4. Innovation in Footwear Technology: Investing in research and progress to create innovative footwear technologies that enhance performance, comfort, and sustainability.

Regional Performance: Global Reach

The company demonstrated strong performance across multiple regions:

north america: Revenue increased by 10%, driven by strong DTC sales and wholesale demand.

Europe: Experienced a 15% revenue increase, benefiting from favorable currency exchange rates and increased brand awareness.

Asia-Pacific: Showed the highest growth rate at 20%, fueled by expanding distribution networks and rising consumer demand in key markets like China and Japan.

Looking Ahead: guidance for Fiscal Year 2025

Wolverine Global raised its full-year guidance, now expecting net revenue to grow by 8-10% and EPS to be in the range of $3.60 – $3.80. This optimistic outlook reflects the company’s confidence in its strategic initiatives and the continued strength of its brands. The company anticipates continued investment in DTC, sustainability, and innovation to drive long-term growth.

Investor relations & Further Information

For investors and analysts seeking more detailed information, please refer to Wolverine Global’s Investor Relations website: https://www.wolverineworldwide.com/investors/ (this is a placeholder URL – verify current URL before publishing). Recent press releases, SEC filings, and investor presentations are available for download.