Merrell and Saucony Lead Broad-Based Q1 Turnaround for Wolverine Worldwide

May 15, 2026

Wolverine Worldwide delivered a first-quarter performance that exceeded expectations on every major financial metric, with its two biggest brands, Merrell and Saucony, leading what CEO Chris Hufnagel described as a company that is becoming a better brand builder.

Revenue rose 11% to $457.6 million, beating the high end of the company’s own guidance, while adjusted operating margin expanded 140 basis points and adjusted diluted earnings climbed 32%.

The results came despite a 270-basis-point unmitigated tariff headwind on gross margin, which held flat at 47.6% year over year, a result Hufnagel and CFO Taryn Miller pointed to as evidence that structural improvements are taking hold. SHOPeatSURF