US shoe manufacturer Wolverine World Wide Inc. reported sales of $470.3 million (432.7 million euros) in the third quarter of fiscal 2025, which ended September 27. This corresponded to an increase of 6.8 percent compared to the same period last year. The increase was mainly due to strong results from key brands Merrell and Saucony.
The company’s net profit rose to $25.1 million (€23.1 million). This was due not least to the fact that the gross margin reached a new record of 47.5 percent. In the same period last year it was 45.1 percent. The increase was mainly due to measures to reduce costs in the supply chain, the restriction of discount promotions and the recent price increases.
Saucony and Merrell record sales increases
Growth in the third quarter was driven primarily by strong numbers from the Saucony and Merrell brands. Saucony developed the most dynamically and recorded sales of 133.1 million US dollars, which corresponded to an increase of 27.0 percent. Merrell’s revenue rose 5.1 percent to $167.3 million.
The other Group brands, however, suffered losses. Sales of the eponymous brand Wolverine fell by 8.2 percent to $45.3 million, while Sweaty Betty’s sales fell by 3.9 percent to $44.5 million.
Looking at the full fiscal year 2025, Wolverine Worldwide forecasts revenue growth of approximately six to 6.8 percent to $1.855 billion to $1.870 billion. A gross margin of 47.1 percent is also expected. Diluted earnings per share are expected to be in the range of $1.08 to $1.13 and adjusted diluted earnings per share are expected to be in the range of $1.29 to $1.34.
The company also announced the appointment of a key position: experienced industry expert Justin Cupps has been appointed president of the Work Group division. He will take responsibility for the Wolverine, Bates, CAT Footwear, Harley-Davidson Footwear, HyTest and Merrell Work brands and will report directly to CEO Chris Hufnagel as a member of the management team.
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