Wolverine Worldwide said total revenues in Q2 increased year-on-year by 11.6% to $474.2m for the period ending 28 June.

Adjusted gross margin increased to 47.2% during the period and adjusted operating margin was up 9.2%.

Inventory at the end of the quarter was $316m, up $19m, or approximately 6.4%, compared to the prior year.

Net Debt at the end of the quarter was $568m, down $99m, or approximately 14.8%, compared to the prior year.

"Our second quarter results exceeded our expectations, which led to the strongest revenue growth we've seen in several years. This growth, coupled with another quarter of record gross margin, helped more than double our earnings per share year-over-year," said Chris Hufnagel, President and CEO of Wolverine Worldwide.

"We're executing our new brand-building model at pace, and we've made meaningful strides in improving the profitability of the business, along with strengthening the balance sheet. I remain confident in the things we can control as we navigate continued uncertainties due to the global trade and consumer environment. We're building a new company, and we're driven by our vision to make every day better — focused squarely on our consumers and delivering value for our shareholders."

Wolverine Worldwide Q3 outlook

Revenue to be approximately $450m to $460m, representing growth of approximately 2.1% to 4.4% compared to the third quarter 2024 ongoing business revenue and constant currency growth of approximately 1.5% to 3.8%.

Diluted earnings per share in the range of $0.24 to $0.28 and adjusted diluted earnings per share in the range of $0.28 to $0.32.

Due to uncertainty around tariffs and related macro-economic conditions, the company said it is not providing a full-year 2025 outlook.