ROCKFORD, Mich. - Wolverine World Wide, Inc. (NYSE: NYSE:WWW) announced on Monday the appointment of Susie Kuhn as President of the company's Active Group, which includes the Merrell, Saucony, and Chaco brands. Kuhn, with over 25 years of experience in the footwear and apparel industry, will be taking charge of the brand strategies and commercial performance of the group starting October 28, 2024.
Kuhn's extensive background encompasses senior roles at Foot Locker (NYSE:FL), Nike (NYSE:NKE), Converse, and URBN, with a focus on global brand-building, direct-to-consumer sales, merchandising, product design, and development. She has previously managed the EMEA region as President for Foot Locker, driving brand strategy and operational performance.
Chris Hufnagel, President and CEO of Wolverine Worldwide, expressed confidence in Kuhn's ability to steer the company's active brands toward future growth, highlighting her global experience and results-driven leadership. Kuhn will also oversee The Collective, a hub for consumer insights, trend analysis, and innovation within the company.
In her remarks, Kuhn acknowledged the legacy of the Merrell, Saucony, and Chaco brands and expressed her commitment to leveraging The Collective to enhance consumer connections and accelerate growth.
Wolverine Worldwide, with a history dating back to 1883, is a global leader in designing, marketing, and licensing a diverse portfolio of footwear and apparel brands. The company's reach extends to leading retailers in the U.S. and around 170 countries and territories worldwide.
This management change comes as part of Wolverine Worldwide's strategic efforts to evolve its brand portfolio and enhance its market position. The information for this article is based on a press release statement from Wolverine World Wide, Inc.
In other recent news, Wolverine World Wide has announced the appointment of Susie Kuhn as President of the company's Active Group. Kuhn brings over two decades of experience in global brand-building, having held senior positions at Foot Locker, Nike, Converse, and URBN. She will now oversee the strategic direction and commercial performance of the Merrell, Saucony, and Chaco brands, as well as The Collective, Wolverine's center-of-excellence for consumer insights and innovation.
Notably, Wolverine World Wide's Q2 results surpassed expectations, with revenue exceeding consensus estimates by 4% and adjusted EBITDA/EPS exceeding by over 100% and 300% respectively, for the past three quarters. UBS reaffirmed its Buy rating on Wolverine World Wide, expressing confidence in the company's potential for continued growth, particularly due to the strategic initiatives of its brand, Saucony. Piper Sandler also maintained an Overweight rating, highlighting the company's strategic repositioning efforts and the upcoming product releases from its brands.
KeyBanc upgraded the company's stock from Sector Weight to Overweight, indicating optimism for the company's future growth. Telsey Advisory Group also raised its price target for Wolverine World Wide following the company's successful second quarter. These are recent developments, reflecting the company's resilience and adaptability in the face of market challenges. Despite anticipated revenue decline for fiscal year 2024 and supply chain disruptions, Wolverine World Wide remains committed to strengthening its balance sheet and improving inventory levels.
InvestingPro Insights
As Wolverine World Wide (NYSE: WWW) welcomes Susie Kuhn to lead its Active Group, investors may find additional context from recent financial data and expert analysis valuable. According to InvestingPro, WWW's stock has shown significant volatility, with a remarkable 106.99% price total return over the past year and a 52.79% return in the last six months. This performance aligns with the company's strategic moves, including the recent high-profile appointment.
Despite the positive stock momentum, WWW faces challenges. InvestingPro data reveals a revenue decline of 26.34% in the last twelve months as of Q2 2024, reflecting the competitive pressures in the footwear and apparel industry. This context underscores the importance of Kuhn's appointment and her potential impact on reversing this trend through her extensive industry experience and focus on brand strategy.
An InvestingPro Tip suggests that analysts expect WWW's net income to grow this year, which could be partly attributed to anticipated improvements in operational efficiency and brand performance under new leadership. Additionally, WWW has maintained dividend payments for 37 consecutive years, demonstrating a commitment to shareholder returns even during challenging periods.
For investors seeking a deeper understanding of WWW's financial health and future prospects, InvestingPro offers 10 additional tips, providing a more comprehensive analysis to inform investment decisions.
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