Merrell and Saucony Drive Wolverine Worldwide's Q1 performance

Wolverine Worldwide reported positive financial results for the first quarter of 2025, showcasing a turnaround driven by strong performance from its Merrell and Saucony brands.

The company achieved a 4.4 percent year-over-year increase in total revenue, reaching 412.3 million dollars, with ongoing business revenue up 5.5 percent to 412.3 million dollars. This growth was primarily fuelled by Merrell and Saucony, which saw revenue increases of 13.2 percent and 29.6 percent, respectively.

Despite uncertainty in the marketplace, Chris Hufnagel, President and CEO, expressed confidence in the company's strategic direction, stating that the first-quarter results demonstrate the effectiveness of their strategy and execution. “Merrell and Saucony fueled our growth with double-digit revenue increases, and we more than tripled our earnings year-over-year, again delivering a record gross margin performance.”

The company's gross margin for the first quarter improved to 47.3 percent, up from 45.9 percent in the same quarter last year. Diluted earnings per share rose to 13 cents, compared to a loss of 19 cents in the first quarter of 2024. Adjusted diluted earnings per share increased to 18 cents from 5 cents year-over-year.

Looking ahead, Wolverine Worldwide anticipates second-quarter revenue between 440 million dollars and 450 million dollars, representing a 3.7 percent to 6 percent increase compared to the same period in 2024. The company expects an operating margin of approximately 6.7 percent and adjusted diluted earnings per share ranging from 19 cents to 24 cents.

However, due to uncertainties related to tariffs and macroeconomic conditions, the company has not provided a full-year outlook for 2025.