Wolverine World Wide has the shoes to quiet your barking dogs. The company makes Hush Puppies casual shoes, as well as boots, sandals, and related apparel and accessories. Its boot lines include Merrell (outdoor), Bates (military), HyTest, and Wolverine (industrial); footwear is made under private labels. Wolverine also boasts several licenses from
Wolverine designs, manufactures, sources, markets, licenses, and distributes branded footwear, apparel, and accessories.
The company realigned its segments into four in fiscal 2016: Wolverine Outdoor & Lifestyle Group (Merrell, Cat, Hush Puppies, Sebago brands and Chaco); Wolverine Boston Group (Sperry, Saucony and Keds brands and apparel); Wolverine Heritage Group (Wolverine, Bates uniform footwear, Harley-Davidson and HyTest footwear) and Wolverine Multi-Brand Group (Stride Rite brand and multi-brand consumer-direct businesses).
Wolverine Outdoor & Lifestyle Group and Wolverine Boston Group are the largest segments. Those segments each accounted for more than 35% of Wolverine's total revenue in fiscal 2016. Wolverine Heritage Group and Wolverine Multi-Brand Group accounted 14% and 12% of revenue in fiscal 2016, respectively.
Wolverine's footwear brands are sold in about 200 countries and territories in the US, the UK, and Canada as well as Latin America, Europe, the Middle East, Africa, and the Asia-Pacific region. The US accounted for almost 75% of the company's revenue in fiscal 2016.
The company's manufacturing operations are conducted in Michigan and it maintains distribution operations in Louisville, Kentucky; Howard City, Michigan; Cedar Springs, Michigan; Rockford, Michigan; Ontario, Canada; and Brookville, Ohio. It also has an administration, sales, and marketing operating facility in Waltham, Massachusetts.
The company operates 294 retail stores in the US and Canada and 56 consumer-direct websites.
Sales and Marketing
Wolverine markets directly through retail stores and also through its own sales force and customer service team, eCommerce websites, and a network of third-party distributors, sales representatives, licensees, and joint ventures. Its brand-specific marketing plans vary and may include print and radio advertising, search engine optimization, social networking sites, event sponsorships, in-store point-of-purchase displays, promotional materials and sales and technical assistance. The company directly sells its products to a range of customers, including department stores, national chains, catalog retailers, specialty retailers, mass merchants and internet retailers, governments and municipalities. Wolverine also uses a network of independent Shoemobile distribution outlets to distribute some work and occupational footwear brands at industrial facilities.
The company's advertising expenses were approximately $122 million in fiscal 2016. Wolverine's target consumers include both elite and casual runners (Saucony), young women (Keds), and industrial workers (Wolverine), among others.
Wolverine's revenue was almost $2.5 billion in fiscal 2016, down about 7% from the $2.7 billion the company reported for revenue in fiscal 2015. The decrease in revenue was caused by the closure of retail stores ($34.5 million), the negative impact of foreign exchange ($17.1 million), the exit of the of the Cushe footwear business ($14.9 million), and lower demand for products within the company's operating groups.
Wolverine's net income was $87.7 million in fiscal 2016. That was down compared to the $122.8 million the company claimed in net income the prior fiscal year largely because of increased operating expenses.
Wolverine's net cash from operating activities was $296.3 million at the end of fiscal 2016, up from $215.5 million at the end of the previous fiscal period.
Wolverine focuses on marketing campaigns and strategies in order to increase awareness of, and affinity for, the company's brands. The strategy will enhance the positioning of its brands, extend its brands into complementary product categories, expand geographically, and expand its consumer-direct operations.
The company seeks to position its three largest brands, Merrell, Sperry, and Saucony, for future global expansion and growth.
9341 COURTLAND DR NE
Rockford, MI 49351-0001
Phone: 1 (616) 866-5500
Employer Type: Publicly Owned
Stock Symbol: WWW
Stock Exchange: , NYSE
President, Wolverine Heritage Group and Global Operations Group: Michael Jeppesen
Chairman, President, and CEO: Blake W. Krueger
SVP, CFO, and Treasurer: Michael D. Stornant
Employees (This Location): 227
Employees (All Locations): 3,700
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