Wolverine Worldwide Delivers Strong First Quarter and Reiterates Full-Year Outlook; First quarter revenue of $615 million grew 20% with continued momentum across brands

ROCKFORD, Mich- Wolverine World Wide, Inc. (NYSE: WWW) today reported financial results for the first quarter ended April 2, 2022.

'We delivered strong financial results in the quarter despite continued supply chain challenges and macro headwinds,' said Brendan Hoffman, Wolverine Worldwide's President and Chief Executive Officer. 'Revenue and operating margin exceeded expectations, despite gross margin pressure related to higher supply chain costs and channel mix shift. We are encouraged to see continued strong demand across brands and have upcoming product launches and powerful marketing initiatives planned to drive further excitement among consumers. Looking ahead, we remain committed to advancing our primary growth strategies, with a more focused approach on execution as we capitalize on a favorable industry backdrop in outdoor, performance and work categories.'

FIRST-QUARTER 2022 FINANCIAL HIGHLIGHTS

http://wolverineworldwide.gcs-web.com/news-releases/news-release-details/wolverine-worldwide-delivers-strong-first-quarter-and-reiterates

Alex Wiseman

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Source: Wolverine World Wide, Inc.

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