WWW
Our take
Wolverine World Wide has largely made Saucony and Merrell the center of the story. Outdoor and running footwear have rarely been more crowded, and deep-pocketed rivals keep arriving. We try to understand whether recent momentum reflects brand-specific progress or a rising industry tide, and whether the portfolio gets the investment it needs.
Updated: August 20, 2026
Wolverine raised Saucony's outlook but not Merrell's, implying a sharp slowdown as outdoor footwear competition heats up.
Store checks at athletic retailers in Hong Kong and Japan: HOKA, On and Arc'teryx look strong while Nike is heavily discounted in Japan.
Is Merrell and Saucony's recent success lasting, or just a strong outdoor footwear cycle that competitors are now chasing?
After than On debacle earlier this week, is Wolverine Worldwide the only footwear company left that’s seemingly not facing problems in the US? The main word being used by management is “confidence”.
