Financial Data and Key Metrics Changes - Fiscal 2024 revenue for the ongoing business was $1.75 billion, a decline of 12.1% compared to the prior year, primarily due to discrete items in 2023 [38] - Full-year adjusted gross margin was 44.6%, an increase of 470 basis points versus last year, reflecting cost-saving measures and improved sales mix [39] - Fourth-quarter revenue was $495 million, exceeding expectations, with ongoing business revenue growing 3% year-over-year [42] - Fourth-quarter adjusted gross margin was 44%, a year-over-year increase of 620 basis points [45] - Full-year diluted earnings per share was $0.91, compared to $0.15 in 2023, indicating significant profitability improvement [41] Business Line Data and Key Metrics Changes - Saucony grew 7% in the fourth quarter, with low teens growth in the US and over 20% in EMEA, while Merrell posted a 1% increase [17][25] - Sweaty Betty's revenue was down 6% in the quarter, but gross margin improved by nearly 900 basis points [30] - Wolverine brand's revenue performance was encouraging, but trends remained inconsistent [32] Market Data and Key Metrics Changes - Strong growth in wholesale and international distributor channels was noted, partially offset by a decline in direct-to-consumer business [42] - The work group revenue increased by 21% in the fourth quarter, driven by strong demand for core franchises [44] Company Strategy and Development Direction - The company is focused on building brand capabilities and modernizing product lines to align with consumer trends [11] - Strategic investments include opening an innovation hub in Boston and enhancing marketing leadership across brands [12][14] - The company plans to accelerate growth in 2025, with a focus on new product launches and lifestyle expansion [51][52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's direction and brand-building strategies, highlighting the potential for significant growth [65] - The outlook for 2025 includes expected revenue growth of 2.5% to 4.3%, with a focus on maintaining profitability while investing in brand growth [51][54] Other Important Information - The company reduced net debt to $496 million, a 33% reduction from 2023, improving financial stability [48] - Inventory at the end of the fourth quarter was $241 million, down approximately 36% from last year, indicating effective inventory management [47] Q&A Session Summary Question: Saucony's growth and new doors - Management confirmed plans for 900 new doors for Saucony, with many being online, and emphasized responsible growth in the brand [76][77] Question: Merrell's new doors and reception - Management noted that Merrell is also opening new doors, particularly in female-focused specialty retail accounts, with positive early returns [78][79] Question: Gross margin sustainability - Management expressed satisfaction with gross margin improvements and indicated ongoing opportunities for further enhancements [81][84] Question: Interest expense guidance - Expected net interest and other expenses for 2025 are projected to be around $25 to $30 million, down from $39 million in 2024 [105] Question: State of the run specialty channel - Management reported that Saucony is gaining market share in the run specialty channel, driven by product innovation and strong performance [141][142]

Core Insights - Wolverine World Wide reported revenue of $494.7 million for the quarter ended December 2024, reflecting a year-over-year decline of 6.1% [1] - The company's EPS for the same period was $0.42, a significant improvement from -$0.30 a year ago, and exceeded the consensus estimate of $0.41 by 2.44% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $485.18 million, resulting in a surprise of 1.96% [1] Revenue Breakdown - Active Group revenue was $331.70 million, exceeding the two-analyst average estimate of $327.11 million, with a year-over-year change of -2.8% [4] - Other revenue amounted to $11.90 million, significantly higher than the $6.25 million average estimate based on two analysts [4] - Work Group revenue reached $151.10 million, compared to the $99.60 million average estimate, marking a year-over-year increase of 20.6% [4] Stock Performance - Wolverine's shares have returned -18.2% over the past month, contrasting with the Zacks S&P 500 composite's increase of 4.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

+ Investor Presentation | 4Q24 Overview $1.75BFY24 Adjusted Revenue1 Investor Presentation | Fourth Quarter 2024 + Investor Presentation | 4Q24 Forward-Looking Statements This presentation contains forward-looking statements, including statements regarding the Company's turnaround and transformation; the Company's outlook for 2025 including, among others: reported, adjusted and constant currency revenue; reported and adjusted gross margin; reported and adjusted operating margin; reported and adjusted net ea ...

分组1 - Wolverine World Wide reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, compared to a loss of $0.30 per share a year ago, representing an earnings surprise of 2.44% [1] - The company posted revenues of $494.7 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.96%, although this is a decrease from year-ago revenues of $526.7 million [2] - Wolverine has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times in the same period [2] 分组2 - The stock has underperformed the market, losing about 16.5% since the beginning of the year, while the S&P 500 has gained 4% [3] - The current consensus EPS estimate for the coming quarter is $0.24 on revenues of $404.3 million, and for the current fiscal year, it is $1.32 on revenues of $1.84 billion [7] - The Shoes and Retail Apparel industry, to which Wolverine belongs, is currently in the bottom 19% of the Zacks industry rankings, indicating potential challenges ahead [8]

Revenue Performance - Fourth quarter 2024 total revenue was $494.7 million, a decrease of 6.1% compared to $526.7 million in Q4 2023[5] - Ongoing total revenue for 2024 was $1,750.4 million, down 12.1% from $1,992.1 million in 2023[7] - Revenue for Q4 2024 was $494.7 million, a decrease of 6.1% compared to $526.7 million in Q4 2023[25] - Total revenue for Fiscal 2024 was $1,755.0 million, down 21.8% from $2,242.9 million in Fiscal 2023[39] - Adjusted revenue for ongoing business in 2023 was $1,992.1 million after accounting for divestitures, down from $2,242.9 million reported revenue[56] Profitability Metrics - Gross margin improved to 44.0% in Q4 2024, up 740 basis points from 36.6% in Q4 2023[5] - Diluted earnings per share for Q4 2024 was $0.29, a significant increase of 125.2% compared to a loss of $1.15 in Q4 2023[5] - Gross profit increased to $217.7 million in Q4 2024, with a gross margin of 44.0%, up from 36.6% in Q4 2023[18] - Operating profit for the fiscal year ended December 28, 2024, was $101.0 million, compared to a loss of $68.2 million in the previous year[18] - Net earnings attributable to Wolverine World Wide, Inc. for Q4 2024 were $24.6 million, a significant recovery from a loss of $91.2 million in Q4 2023[18] - Operating profit for Fiscal 2024 was $101.0 million, with an operating margin of 5.8%, compared to an operating loss of $68.2 million and an operating margin of (3.0)% in Fiscal 2023[47] Expenses and Cost Management - Operating expenses for Fiscal 2024 totaled $680.5 million, down from $940.7 million in Fiscal 2023, leading to adjusted operating expenses of $650.5 million[44] - Operating expenses for Fiscal 2024 Q4 were $177.9 million, significantly reduced from $379.9 million in Fiscal 2023 Q4, resulting in adjusted operating expenses of $167.0 million[30] Future Projections - The company expects 2025 revenue to be approximately $1.795 to $1.825 billion, representing growth of approximately 2.5% to 4.3% compared to 2024 ongoing business[11] - Projected gross margin for 2025 is approximately 45.5%, an increase of 100 basis points compared to 2024[11] - The effective tax rate for 2025 is expected to be approximately 18.0%[11] - Adjusted diluted earnings per share for 2025 is projected to be in the range of $1.05 to $1.20, including an approximate $0.08 negative impact from foreign currency fluctuations[11] Balance Sheet and Cash Flow - Inventory at the end of Q4 2024 was $241 million, down $133 million or approximately 35.6% year-over-year[6] - Net debt decreased to $496 million, down $246 million or approximately 33.1% compared to the prior year[6] - Cash and cash equivalents at the end of the fiscal year were $152.1 million, a decrease from $184.6 million at the beginning of the year[23] - Total assets decreased to $1,668.8 million as of December 28, 2024, down from $2,062.8 million in the previous year[20] - The company reported a net cash provided by operating activities of $180.1 million for the fiscal year, an increase from $121.8 million in the previous year[23] Strategic Initiatives - The company plans to continue focusing on its direct-to-consumer operations and expanding into new markets[24] - The company is undergoing a transformation strategy to improve its brand portfolio and operational efficiency[24]

ROCKFORD, Mich., Feb. 10, 2025 /PRNewswire/ -- Merrell, the world's leading hiking and outdoor footwear brand, announced it has welcomed Richard McLeod as Chief Marketing Officer. Reporting to Janice Tennant, Merrell's Global Brand President, McLeod will be responsible for leading Merrell's global marketing and directing the creation of modern integrated marketing capabilities to further cement the brand's position as a global leader in the outdoor active and lifestyle space. MERRELL ANNOUNCES RICHARD M ...

Core Viewpoint - Wolverine World Wide (WWW) has consistently surpassed earnings estimates and is well-positioned for future earnings growth, making it a strong candidate for investment consideration [1]. Earnings Performance - In the most recent quarter, Wolverine reported earnings of $0.29 per share, exceeding the expected $0.21 per share by a surprise of 38.10% [2]. - For the previous quarter, the company reported $0.15 per share against an expectation of $0.10 per share, resulting in a surprise of 50% [2]. Earnings Estimates and Predictions - Estimates for Wolverine have been trending higher due to its history of earnings surprises, with a current Earnings ESP of +2.44%, indicating increased analyst optimism about its near-term earnings potential [3][6]. - The combination of a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy) suggests a high likelihood of another earnings beat in the upcoming report [6]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [4]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [5].

Wolverine World Wide, Inc. (WWW) has demonstrated strong upward momentum, trading above its 50 and 200-day simple moving averages (SMAs). SMA is a key indicator of price stability and long-term bullish trends. The company ended Friday’s trading session at $22.79, above its 50 and 200-day SMAs of $22.41 and $15.65, respectively, highlighting a continued uptrend. This technical strength, combined with consistent momentum, indicates positive market sentiment and investor confidence in Wolverine’s financial sta ...

Core Insights - Merrell has appointed Noreen Naroo-Pucci as Chief Product Officer to enhance product vision, strategy, and innovation [1][5] - The brand aims to expand into the lifestyle segment, responding to consumer demand for versatile footwear suitable for both outdoor activities and urban life [2][5] - Naroo-Pucci brings over three decades of experience in design and brand development, having previously held significant roles at Mizzen+Main, Calvin Klein, and Under Armour [4][5] Company Strategy - Merrell is focusing on modernizing its brand to attract the next generation of outdoor consumers through innovative product development [5][6] - The company is committed to merging performance, styling, and comfort in its footwear offerings, exemplified by popular products like the Moab hiking boot and Jungle Moc [8] Leadership and Vision - Naroo-Pucci emphasizes her dedication to creating innovative products that empower consumers while maintaining a focus on style and functionality [3][6] - The leadership transition is seen as a strategic move to enhance Merrell's brand identity and market presence in the outdoor footwear industry [5][6]

Company Overview - Saucony is a global performance running lifestyle brand and a division of Wolverine World Wide, Inc. (NYSE: WWW) [4] - The brand is recognized for its innovative technologies, including PWRRUN™ PB, PWRRUN+™, and SPEEDROLL™, and aims to inspire people through running culture [4] Athlete Signing - Jackie Gaughan, a competitor in the 2024 U.S. Women's Olympic Marathon Trials, has signed a professional contract with Saucony [1] - Gaughan achieved an Olympic Marathon Trials qualifying mark of 2:27:08 at the 2023 Berlin Marathon, finishing as the 2nd American and 18th overall in the women's division [1][2] - She has a personal best of 1:10:01 at the 2024 Houston Half Marathon and placed second at the 2024 Chicago Half Marathon with a time of 1:12:41 [1] Product Highlight - Gaughan will be racing in Saucony's Endorphin collection, including the Endorphin Elite, which features a slotted carbon plate for maximum energy return and PWRRUN HG™ cushioning [2] - The Endorphin Elite is available at saucony.com and select retailers globally, providing athletes with performance-enhancing technology [2]