Wolverine World Wide Inc /DE/ has recently released its 10-K report for the fiscal year ended December 28, 2024. The company operates through two segments: Active Group and Work Group. Its offerings include casual footwear and apparel, performance outdoor and athletic footwear and apparel, kids' footwear, industrial work boots and apparel, and uniform shoes and boots. The company also sources and markets a range of footwear and apparel styles under various brands and licenses its brands for use on non-footwear products.
In the fiscal year 2025, Wolverine World Wide Inc reported a revenue of $1,874.3 million, representing a 6.8% increase from the prior year. The gross margin for 2025 was 47.3%, compared to 44.3% in 2024. The effective tax rate in 2025 was 16.9%, compared to 15.9% in 2024. Diluted earnings per share in 2025 were $1.14, compared to $0.55 in 2024. The company declared cash dividends of $0.40 per share in 2025 and 2024. Cash flow provided by operating activities was $140.0 million in 2025 and $180.1 million in 2024. The company's inventory increased by $26.4 million, or 10.7%, compared to the prior year.
In terms of revenue, the Active Group saw an increase of $161.7 million, or 13.0%, driven by strong performance from Saucony and Merrell. The Work Group, however, experienced a revenue decrease of $33.1 million, or 7.3%, primarily due to lower sales from Wolverine, Cat, HYTEST, Harley-Davidson, and Bates. The Other segment also saw a revenue decrease of $9.3 million, or 17.4%. The company's gross margin increased to 47.3% in 2025, primarily due to product cost savings, a favorable mix shift toward more full-price sales, and recent price increases, partially offset by the impact of higher U.S. tariffs.
Operating expenses increased by $56.0 million in 2025, primarily driven by higher advertising costs, selling costs, environmental and other related costs, incentive compensation costs, and general and administrative costs. The company's net interest expense decreased to $32.8 million in 2025 compared to $42.7 million in 2024. Other income was $4.1 million in 2025 compared to $3.3 million in 2024. The effective tax rate in 2025 was 16.9%, compared to 15.9% in 2024.
The company's reportable segments include Active Group, Work Group, Other, and Corporate categories. The Active Group's revenue and operating profit increased significantly, driven by strong performance from Saucony and Merrell. The Work Group's revenue decreased, but operating profit increased due to a higher gross margin and lower selling, general, and administrative costs. The Other segment saw both revenue and operating profit decrease.
Wolverine World Wide Inc's cash and cash equivalents totaled $206.3 million as of January 3, 2026, representing an increase of $54.2 million compared to December 28, 2024. The company had $510.5 million of borrowing capacity available under its Revolving Facility as of January 3, 2026. The company expects cash flow from operating activities to be sufficient to meet its working capital needs for the foreseeable future. Today the company's shares have moved -0.26% to a price of $19.30. For the full picture, make sure to review WOLVERINE WORLD WIDE INC /DE/'s 10-K report.
