Companies

Wolverine Worldwide ends 2025 with growth

Mar 4, 2026 United States

The US-based group ended the fourth quarter with strong performances from its key brands, Saucony and Merrell. The company reported higher revenue, expanding margins and increased earnings per share

“We exceeded our expectations across all key metrics in the fourth quarter, finishing a solid year for the Company. Our biggest brands are growing around the world, direct-to-consumer continues to improve, earnings per share increased meaningfully year-over-year, and I believe we’re finding our footing where we’ve underperformed”, said Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide.

Fourth Quarter Results

In the fourth quarter of the 2025 financial year, which ended on the 3^rd of January 2026, the company’s total revenue reached 517.5 million US dollars. This represents an increase of 4.6% (or 3.1% on a constant basis), on a comparable basis to the fourth quarter of the previous year.

As in the previous quarter, the Saucony brand recorded year-on-year growth of 26.4% (or 24.2% on a constant basis) to reach 125.9 million US dollars in this period, thereby leading the company’s total revenue growth. Merrell, another brand of the Active Group, recorded year-on-year growth of 5.9% (or 4.6% on a constant basis) to reach 173.1 million US dollars.

Ultimately, revenue attributed to the Active group increased by 12.4% (or 10.2% on a constant basis), while revenue from the Work and Other segments decreased by 11.3% (or 11.7% on a constant basis) and 9.2% (or 8.4% on a constant basis), respectively, as compared to the fourth quarter of the 2024 financial year.

In the fourth quarter of 2025, Wolverine Worldwide saw its gross margin increase year-on-year from 43.6% to 47.0%. This was mainly due to product cost savings, a favourable shift in the product mix towards more full-price sales and the impact of recent price increases. However, this was also partially offset by higher US tariffs.

During this period, diluted earnings per share were 0.38 US dollars, while adjusted diluted earnings per share were 0.45 US dollars. This compares with 0.28 and 0.40 US dollars respectively in the fourth quarter of the 2024 financial year.

Full-Year Results

In the full year 2025, Wolverine Worldwide reported a total revenue of 1.87 billion US dollars, reflecting an increase of 6.8% (or 6.0% on a constant basis), as compared to the prior year.

The full-year gross margin improved by 300 basis points to reach 47.3%, and the full-year operating margin increased by 240 basis points to reach 8.0%. Diluted earnings per share rose by 107% over the last year, reaching 1.14 US dollars, while adjusted diluted earnings per share increased by 53.4%, reaching 1.35 US dollars.

By the end of the year, inventory had increased by 26 million US dollars year-on-year to reach 274 million US dollars. Meanwhile, net debt had fallen by 16.2% year-on-year to reach 415 million US dollars.

“I’m pleased with our progress in transforming the Company and encouraged by the momentum we’ve carried into 2026”, added Chris Hufnagel.

Fiscal 2026 Outlook

Wolverine Worldwide expects its revenue for 2026 to be between 1.960 and 1.985 billion US dollars, representing growth of between 4.6% and 5.9% as compared to 2025. This equates to constant currency growth of between 3.8% and 5.1% and between 4.5% and 5.8% respectively, excluding the impact of the 53^rd week in 2025.

Full-year 2026 diluted earnings per share are anticipated to be in the range of 1.31 to 1.46 US dollars, with adjusted diluted earnings per share anticipated to be in the range of 1.35 to 1.50 US dollars.

Image Credits: stereoki.com

United States Companies Quarter Results Results Wolverine Worldwide, Inc. Year Results