沃尔弗林集团 2024年度报告

LETTER FROM THE CHAIRMAN 2024 was an important year inthe transformation of WolverineWorldwide. I’m pleased to report that in 2024 the Companydelivered on its plan for its shareholders, driven bysignificantly stronger financial performance, substantialimprovement in talent and capabilities, and a strongerfoundation for sustainable long-term growth. TheBoard will continue to actively engage with themanagement team in developing and overseeingexecution of the Company’s clear strategy, taking intoaccount volatile market conditions. Tom Long, Chairman of the Board We would like to extend special thanks to Dave Kollatand Jodi Bricker for their valuable contributions overthe years. They are not standing for reelection thisyear, and we will miss them. To ensure the Boardcontinues to be equipped with the right mix of skillsand experiences, we plan to fill these seats with newdirectors who bring a powerful range of backgroundsand relevant growth-oriented industry expertise. We are confident Wolverine will make meaningfulprogress in the year ahead. On behalf of the entire Board of Directors, thank youfor your continued support. Tom LongChairman of the Board LETTER FROM THE CEO Delivering an AmbitiousTurnaround brands with impactthrough our key cityinitiative – beginningin Tokyo andLondon. WolverineWorldwide isa meaningfullydifferent companytoday than it wasa year ago, nowpoised to enable theprofitable growth ofour brands. Entering 2024, we had outlined a three-phase planto turn around Wolverine Worldwide – focused onstabilizing the Company, transforming the organization,and ultimately inflecting to growth – and our teamdelivered across all aspects of this effort. Wesuccessfully completed the stabilization phaseand strengthened the balance sheet, finishing theyear with less than half the debt we held 24 monthsearlier and the cleanest inventory position sincethe pandemic. We also meaningfully improved thebusiness’ profitability, achieving record gross marginand delivering earnings per share nearly six timesgreater than the prior year.Finally, and importantly,the Company inflected to growth in the final quarter of2024 – establishing momentum for the year ahead. Christopher Hufnagel,President and Chief Executive Officer The Opportunity Ahead Our brands are originals and leaders in attractiveperformance markets that we believe are alignedwith long-term, macro consumer trends and providea sizeable opportunity for penetration into broaderlifestyle wearing occasions. We believe their potentialis significant, and we are seeing our efforts begin todeliver results – giving us confidence in our strategy.In 2025 and beyond, we intend to take a balancedapproach to further expand profitability while investingin our brands and capabilities to drive sustainablegrowth – all with a focus on maximizing returns andvalue for our shareholders. Accelerating Growth While it’s early in our inflection phase, WolverineWorldwide is indeed growing again – with the Sauconybrand leading the way, which is expected to deliver amid-teens increase in 2025. Our growth is due in largepart to the good progress we’ve made to transformthe Company and begin to once again build ourtremendous brands around the world. We reshapedour portfolio for enhanced focus, and we’ve developedstronger capabilities to execute our Brand-buildingModel – intent on building awesome products, tellingamazing stories, and driving the business. To underpinour model, we bolstered consumer and trend insights.To complement our product engine, we added newtalent, implemented advanced tools for greatereffectiveness and efficiency, and opened our first-everInnovation Hub in downtown Boston to tap into theconcentration of exceptional talent in the region. Tostrengthen our marketing capabilities, we recruited newmarketing leadership across our brands and createdan in-house studio for nimble asset creation to engagetoday’s always-on consumers. Finally, to help drivethe business in the marketplace, we deployed brandprotection measures and more disciplined distributionmanagement, developed more strategic relationshipswith our partners domestically and internationally,and established a compelling platform to activate our Our team is proud of the work we’ve done, but we arenot satisfied. We are driven by a vision toMake. EveryDay. Better.for our consumers, our communities, andfor you – our shareholders. The next chapter in ourCompany’s 142-year history – one fixated on growth –is undoubtedly the most important one yet. We can’twait to deliver once again. As always, thank you for your continued support ofWolverine Worldwide. Be Well and Be Safe, Christopher HufnagelPresident and Chief Executive Officer Looking to the future, we are firmly focused as anorganization on a new vision for Wolverine Worldwide: VISION We make greatthings…Every daymatters…Our consumers aremoved to live… VALUES Christopher Hufnagel Tom Long Chairman of the Board, Wolverine World Wide, Inc.;Reti