Here are 1-3 brief analogies for Wolverine World Wide (WWW):

• Like VF Corporation (Vans, The North Face) but for a diverse portfolio of footwear brands such as Merrell, Saucony, and Sperry.
• Similar to Deckers Outdoor (UGG, Hoka) but with a wider range of casual, work, and performance footwear brands.

• Merrell: A brand of outdoor performance footwear and apparel, known for its hiking boots and trail shoes.
• Saucony: An athletic performance footwear and apparel brand specializing in running shoes.
• Wolverine: A brand offering work and outdoor footwear and apparel, particularly durable boots for industrial and rugged use.
• Chaco: A brand focused on performance outdoor sandals, shoes, and accessories, recognized for their adjustable straps and arch support.
• Cat Footwear: Produces rugged work and lifestyle boots and shoes under license from Caterpillar Inc.
• Bates: Provides uniform footwear primarily for military, police, and other uniformed service personnel.
• Hytest: Offers safety footwear, including protective shoes and boots for various demanding work environments.
• Harley-Davidson Footwear: Manufactures lifestyle and performance boots and shoes inspired by the iconic motorcycle brand under license.

Wolverine World Wide (WWW) Major Customers

Wolverine World Wide (WWW) primarily sells its branded footwear and apparel products to other companies, specifically a diverse range of retailers through its wholesale channels. While the company also operates direct-to-consumer (DTC) channels, the wholesale segment represents a significant portion of its overall business.

According to its most recent annual report (Form 10-K for the fiscal year ended December 30, 2023), no single customer accounted for 10% or more of Wolverine World Wide's consolidated net sales. As such, the company is not required to and does not publicly disclose the names of specific major customer companies at that threshold.

However, Wolverine World Wide's major customers generally fall into the following categories of retailers:

• Department stores
• National and regional sporting goods chains
• Independent retailers
• Specialty outdoor retailers
• Mass merchandisers

These categories represent the types of companies through which Wolverine World Wide distributes its products globally, including brands such as Merrell, Saucony, Sperry, and Wolverine.

Christopher Hufnagel President & Chief Executive Officer

Christopher Hufnagel has served as the President and Chief Executive Officer of Wolverine World Wide since August 2023. He joined the company in 2008 and has held various senior leadership positions, including President of the Active Group, Global Brand President of Merrell, Global Brand President of CAT Footwear, President of Direct-to-Consumer, and Senior Vice President of Strategy. Prior to his tenure at Wolverine World Wide, he held senior leadership roles at other companies such as Under Armour, Gap Inc., and Abercrombie & Fitch.

Taryn Miller Chief Financial Officer

Taryn Miller was appointed Chief Financial Officer of Wolverine World Wide, effective May 2024. She brings over 25 years of experience in corporate finance and investor relations. Her previous roles include Vice President of Corporate and Commercial Finance at Corteva Agriscience (October 2022 - October 2023), and Chief Financial Officer of Global Business Units, Enterprise FP&A, and Investor Relations at Kimberly-Clark Corporation (April 2017 - October 2022). Earlier in her career, she held various financial leadership positions at Kraft Heinz Company, including Chief Financial Officer and Vice President of Finance at Kraft Heinz Canada Inc.

Brett Parent Chief Strategy Officer

Brett Parent assumed the role of Chief Strategy Officer in February 2025. Before this appointment, he served as the Vice President of Strategy and was involved in the Direct-to-Consumer Division at Wolverine World Wide.

Richard McLeod Chief Marketing Officer

Richard McLeod became the Chief Marketing Officer in 2025. His prior experience includes serving as Vice President and Chief Marketing Officer at Champion and as Senior Vice President of Brand at Canada Goose.

Dave Latchana Chief Legal Officer & Corporate Secretary

Dave Latchana holds the position of Chief Legal Officer & Corporate Secretary at Wolverine World Wide.

The rapid and significant market share gains by agile, digitally-native performance footwear brands, such as Hoka (from Deckers Brands) and On Running, represent a clear emerging threat. These challenger brands have successfully leveraged distinct product innovations (e.g., maximalist cushioning, unique sole technologies), aggressive direct-to-consumer strategies, and influential social media marketing to disrupt the athletic and outdoor footwear segments, directly competing with Wolverine World Wide's core brands like Saucony and Merrell.

For Wolverine World Wide (symbol: WWW), the addressable markets for their main products and services are as follows:

• Casual Footwear and Apparel: The global casual shoes market was valued at USD 100 billion in 2023 and is projected to reach USD 214 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 10%. Another estimate places the global casual shoes market size at USD 92.53 billion in 2025, projected to reach USD 158.33 billion by 2034 with an estimated CAGR of approximately 6.15%. In 2025, the North American casual shoe market is expected to hold 31.75% of the global market revenue.
• Performance Outdoor and Athletic Footwear and Apparel: The global outdoor footwear market was valued at US$21.01 billion in 2024 and is projected to reach US$33.74 billion by 2031, growing at a CAGR of 7.1%. Another source indicates the global outdoor footwear market is projected to increase from USD 51.2 billion in 2025 to USD 101.7 billion by 2035, with a CAGR of 7.1%. Specifically for hiking footwear, the global market size was US$19.70 billion in 2023 and is projected to expand at a CAGR of 3.1% to reach US$26.73 billion by the end of 2033.
• Children's Footwear: The global kids' footwear market size was valued at USD 54.49 billion in 2024 and is projected to reach USD 79.11 billion by 2030, growing at a CAGR of 8.2% from 2025 to 2030. North America dominated the global kids' footwear industry with a revenue share of 33.0% in 2024. The U.S. kids' footwear market held a 73.0% revenue share of the North American regional industry in 2024.
• Industrial Work Boots and Apparel: null

Here are 3-5 expected drivers of future revenue growth for Wolverine World Wide (WWW) over the next 2-3 years:

1. Growth of Key Brands and Brand Portfolio Optimization: Wolverine World Wide anticipates future revenue growth by focusing on and expanding its strongest brands, particularly Merrell and Saucony, which have consistently outperformed expectations. The company's strategic emphasis is on optimizing its brand portfolio to position authentic brands in attractive categories.
2. New Product Launches and Innovation: Innovation and the introduction of new products are expected to drive revenue growth. For instance, planned new product launches for 2025 include Merrell's Speed Arc Collection and several initiatives for the Wolverine brand. Collaborations, such as Merrell's upcoming partnership with Jeep, and new product introductions in the Saucony brand are also highlighted.
3. Expansion of Direct-to-Consumer (DTC) Channels: The company plans to enhance its direct-to-consumer channels and expand its physical footprint by increasing store counts in relevant U.S. lifestyle and athletic specialty channels. This focus aims to leverage stronger consumer connections and potentially higher margins.
4. Strategic Restructuring and Operational Efficiency: Although not a direct revenue driver, Wolverine World Wide's ongoing corporate restructuring plan, which includes optimizing inventory levels and realizing significant annual savings, is creating a "stronger platform for growth." Improved gross margins, attributed to a healthier sales mix and supply chain cost-saving initiatives, enhance profitability and provide capital for reinvestment into growth initiatives.
5. International Expansion: Wolverine World Wide's "Brand-Building Playbook" includes international expansion as a key component for achieving further growth, alongside targeted product development and strong DTC sales channels. This indicates a focus on increasing market penetration outside of existing domestic markets.

Share Repurchases

• Wolverine World Wide announced a new share repurchase program on May 8, 2024, authorizing up to $150 million in common stock repurchases, valid for three years.
• Prior to this, the company's Board of Directors approved a plan to repurchase up to $400 million in shares over a four-year term, incremental to $27 million remaining under an existing program.

Share Issuance

• No significant share issuances (dollar amount) by the company in the last 3-5 years were identified.

Inbound Investments

• No significant inbound investments made in Wolverine World Wide by third-parties were identified in the last 3-5 years.

Outbound Investments

• Wolverine World Wide acquired British athleisure retailer Sweaty Betty in August 2021.
• The company sold the Keds brand to Designer Brands, Inc. (DBI) in February 2023 and intends to license Hush Puppies footwear for the United States and Canada to DBI, with these transactions expected to generate over $90 million in cash.
• Wolverine World Wide completed the sale of the Sperry brand in January 2024.

Capital Expenditures

• Wolverine World Wide's capital expenditures averaged $19.84 million annually for fiscal years ending January 2021 to 2024.
• The company's capital expenditures for the latest twelve months were $23.1 million.
• Expected capital expenditures for fiscal year 2025 are approximately $25 million.