Despite a drop in its stock price (-24.2%), Wolverine Worldwide, the group that owns brands such as Saucony, Merrell, Sweaty Betty, and Wolverine, closed a third quarter above expectations, mainly thanks to the growth of its two flagship brands in the running and outdoor markets.
Quarterly revenues rose 6.8% (5.5% at constant currency) to $470.3 million, exceeding analysts’ estimates of $462.9 million. Adjusted earnings per share increased 28.6% to $0.36, above forecasts.
Saucony soars: +27% in the quarter
The standout performer of the quarter was Saucony, with sales up 27% year-on-year (24.9% at constant currency), driven by strong performances in the Ride, Guide, Hurricane, and Triumph running models, as well as the continued expansion of the Endorphin line (Speed, Pro, Elite).
The brand gained market share in the U.S. specialty running channel and continues its global expansion, with Tokyo and Harajuku central to its Asia strategy and a new flagship store planned in Paris in 2026.
In the lifestyle segment, Saucony saw significant sales growth thanks to the return of iconic models such as Pro Grid Omni 9, Ride Millennium, Jazz Original, and Shadow 5000, which were also featured in new collaborations with designers and cult brands like J Tips, Engineered Garments, and Metagirl.
Ceo Chris Hufnagel emphasized that “Saucony is combining heritage and innovation, becoming a reference point in the run-lifestyle market and on track to close 2025 with record revenues and profits.”
Merrell continues to grow in the hiking segment
Merrell confirmed its leadership in the outdoor market with a 5.1% increase (+3.5% at constant currency). Growth was driven mainly by the wholesale channel and an improved full-price sales mix.
The brand continues to gain share in the U.S. hiking category, supported by the success of the Moab Speed 2, Moab 3, and Agility Peak 5 models. In the lifestyle segment, the Disruptive Wrap collection saw growth, while Jungle Moc sales remain strong.
In 2026, Merrell will launch new models such as the Agility Peak 6 and the Relay line, aiming to expand its offering toward a more urban “outdoor-inspired” style.
Brand activations in major cities, such as the Urban Hike Guide in Paris, have helped strengthen awareness and interest, particularly among female runners and outdoor enthusiasts.
Vision for 2026
According to Hufnagel, Saucony and Merrell will account for nearly two-thirds of the group’s total revenue in 2025, with combined double-digit growth expected in 2026.
“Both brands are gaining global market share thanks to innovative products, authentic storytelling, and increasing appeal among younger consumers,” the ceo commented.
