Wolverine's E-commerce Business to Keep Holding the Key

September 22 2020 by Zacks Equity Research

Wolverine World Wide, Inc. WWW has been gaining momentum, thanks to a diversified global business model, enhanced digital capabilities and brand strength. Among the company’s sales channels, e-commerce has been the key growth driver. Its Global Growth Agenda initiative also bodes well. A better-than-expected second-quarter 2020 performance is further adding to the appeal of the stock. Impressively, the Rockford, MI-based company’s shares have appreciated 79.4% in the past six months, rallying ahead of the broader S&P 500 Index’s 47.8% gain and the Consumer Discretionary sector’s 49.9% upside. Meanwhile, the industry showcased growth of 78.8%.

A Broader Analysis
Speaking of Wolverine’s e-commerce business, the same excelled in the second quarter of 2020 and surged 96% year over year on accretive margins. Notably, the digital platform accounted for about two-thirds of the overall U.S. sales. Compelling new products in the hiking, outdoor, trail-running and home-casual categories, coupled with robust customer engagement, fueled online demand. Brand-wise, merrell.com surged nearly 140% in the quarter while Wolverine and Cat Footwear brands registered more than 100% online growth. Furthermore, saucony.com revenues almost tripled and sperry.com grew above 30% on gains from new-customer acquisitions. Recently, Wolverine also partnered with retail predictive analytics company, First Insight in order to leverage data in the product decision-making process. This will help the company’s portfolio with greater speed-to-market, sell-in, sell-through, and lower markdowns. We believe the company will continue capitalizing on its solid e-commerce platform.

Read the Full Article at Nasdaq

partnership  customer  Data  markdowns  Product Selection  Speed to Market  partnerships  Wolverine Worldwide  sell-in

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