Reflecting On Footwear Stocks’ Q3 Earnings: Wolverine Worldwide (NYSE:WWW)

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at footwear stocks, starting with Wolverine Worldwide (NYSE:WWW).

Before the advent of the internet, styles changed, but consumers mainly bought shoes by visiting local brick-and-mortar shoe, department, and specialty stores. Today, not only do styles change more frequently as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some footwear companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 8 footwear stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.7% while next quarter’s revenue guidance was 1.2% below.

Thankfully, share prices of the companies have been resilient as they are up 5.4% on average since the latest earnings results.

Wolverine Worldwide (NYSE:WWW)

Founded in 1883, Wolverine Worldwide (NYSE:WWW) is a global footwear company with a diverse portfolio of brands including Merrell, Hush Puppies, and Saucony.

Wolverine Worldwide reported revenues of $440.1 million, down 7% year on year. This print exceeded analysts’ expectations by 4.4%. Overall, it was a strong quarter for the company with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

“In the third quarter, we delivered better-than-expected revenue and earnings – led by Merrell and Saucony outpacing our forecast – as we continue to make progress on our plan to turnaround and transform the Company for the future,” said Chris Hufnagel, President and Chief Executive Officer of Wolverine Worldwide.Wolverine Worldwide Total Revenue

Wolverine Worldwide achieved the highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 44.6% since reporting and currently trades at $23.22.

Is now the time to buy Wolverine Worldwide? Access our full analysis of the earnings results here, it’s free.

Best Q3: Genesco (NYSE:GCO)

Spanning a broad range of styles, brands, and prices, Genesco (NYSE:GCO) sells footwear, apparel, and accessories through multiple brands and banners.

Genesco reported revenues of $596.3 million, up 2.9% year on year, outperforming analysts’ expectations by 3.2%. The business had a stunning quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.Genesco Total Revenue

The market seems happy with the results as the stock is up 12.4% since reporting. It currently trades at $42.10.

Story Continues

Is now the time to buy Genesco? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Caleres (NYSE:CAL)

The owner of Dr. Scholl's, Caleres (NYSE:CAL) is a footwear company offering a range of styles.

Caleres reported revenues of $740.9 million, down 2.8% year on year, falling short of analysts’ expectations by 1.4%. It was a softer quarter as it posted full-year EPS guidance missing analysts’ expectations.

Caleres delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 40.4% since the results and currently trades at $19.78.

Read our full analysis of Caleres’s results here.

Nike (NYSE:NKE)

Originally selling Japanese Onitsuka Tiger sneakers as Blue Ribbon Sports, Nike (NYSE:NKE) is a global titan in athletic footwear, apparel, equipment, and accessories.

Nike reported revenues of $12.35 billion, down 7.7% year on year. This print surpassed analysts’ expectations by 2%. Overall, it was an exceptional quarter as it also recorded an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.

Nike had the slowest revenue growth among its peers. The stock is down 2.3% since reporting and currently trades at $75.32.

Read our full, actionable report on Nike here, it’s free.

Skechers (NYSE:SKX)

Synonymous with "dad shoe", Skechers (NYSE:SKX) is a footwear company renowned for its comfortable, stylish, and affordable shoes for all ages.

Skechers reported revenues of $2.35 billion, up 15.9% year on year. This number topped analysts’ expectations by 1.8%. Aside from that, it was a mixed quarter as it also logged an impressive beat of analysts’ constant currency revenue estimates but a miss of analysts’ adjusted operating income estimates.

The stock is up 21.7% since reporting and currently trades at $75.04.

Read our full, actionable report on Skechers here, it’s free.

Market Update

Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% each in November and December), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by the pace and magnitude of future rate cuts as well as potential changes in trade policy and corporate taxes once the Trump administration takes over. The path forward is marked by uncertainty.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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