The Rockford, Mich.-based footwear company said total revenue in the fourth quarter of 2024 was $494.7 million, down 6.1 percent from $526.7 million the same time last year. Ongoing total revenue in Q4 – which excludes the impact of sold assets like Keds, Sperry and the Wolverine leather business – was also $494.7 million, an increase of 3.0 percent from $480.5 million the prior year period.

By brand, Merrell and the company’s namesake Wolverine label led the way in Q4 in terms of growth. At Merrell, net sales in the period were $163.4 million, a 1.0 percent increase from $161.8 million the prior year. At the Wolverine brand, net sales were $62.4 million, a 20.5 percent increase from $51.8 million just a year ago.

Turning to Saucony, sales declined 5.3 percent to $99.6 million in the third quarter from $105.1 million the same time last year. And at Sweaty Betty, net sales decline 5.9 percent in Q4 to $63.4 million from $67.3 million.

The company’s international revenue was down 5.4 percent to $252.7 million on a reported basis compared to the prior year, while its direct-to-consumer revenue was also down 18.8 percent on a reported basis to $151.7 million. Net debt at the end of the quarter was $496 million, down $246 million or approximately 33.1 percent compared to the prior year.

As for the full fiscal year 2024, Wolverine Worldwide said total revenue was $1.76 billion, down 21.8 percent from $2.24 billion from 2023. Ongoing total revenue in fiscal 2024 was $1.75 billion, a decrease of 12.1 percent from $1.99 billion the prior year.

By brand, Merrell reported net sales in 2024 of $598.4 million, down 11.5 percent from $675.8 million in fiscal 2023. At Saucony, sales declined 18.0 percent to $406.5 million from $495.8 million, while the Wolverine brand sales decreased 4.0 percent to $193.1 million from $201.2 million. Sweaty Betty net sales for the year declined tk percent to $198.9 million from $203.8 million.

The company’s international revenue was down 15.9 percent to $861.6 million on a reported basis compared to the prior year, while its direct-to-consumer revenue was also down 16.9 percent on a reported basis to $483.9 million.

“A year ago, we outlined an ambitious turnaround strategy composed of three chapters: stabilization, transformation, and inflection,” Chris Hufnagel, president and chief executive officer of Wolverine Worldwide, said in a statement. “We shared a plan to meaningfully strengthen the company’s balance sheet, expand profitability, and sequentially improve revenue trends – culminating with an inflection to growth in the final quarter of 2024. I’m pleased to report that we accomplished all of these objectives.”

Hufnagel added that the company exceeded its expectations for revenue and earnings in the fourth quarter and inflected to growth as a company – delivering better-than-anticipated results for 2024. “As we begin 2025, our brands are poised to continue to build on our momentum, standing on a much healthier foundation with stronger product pipelines and compelling storytelling,” the CEO noted. “Our team is encouraged by the work we’ve accomplished together and excited to turn the page.”

Looking ahead, the company said that it expects to build on the momentum gained in 2024 and make continued progress on its transformation in fiscal year 2025. Wolverine Worldwide noted that it expects revenue for fiscal 2025 to be approximately $1.795 billion to $1.825 billion, representing growth of approximately 2.5 percent to 4.3 percent compared to the 2024 ongoing business and constant currency growth of approximately 4.7 percent to 6.5 percent.

“2024 was a pivotal year for our 142-year-old company,” Hufnagel continued. “While we haven’t yet reached our full potential, I’m encouraged by the progress we’ve made and thankful for our teams and partners around the world. The most important chapter is the next one, as we drive together to deliver better, more consistent returns for our shareholders.”

According to the Japanese sportswear company, net sales in North America increased 17.8 percent to 135.0 billion yen (approximately $891.8 million) from 114.6 billion yen ($756.9 million) in fiscal 2023.

Asics noted the increases were attributed to significant sales growth for run specialty stores, reduction of the sales volume of entry models, improvement in profitability of retail and the sales growth of e-commerce.

“We are so very fortunate that our Asics global headquarters team in Kobe, Japan supports our long-term vision for the region and continues to collaborate with our team to provide the necessary resources to manage all channels of our business,” Koichiro Kodama, president and chief executive officer of Asics North America, said in a statement. “Our focus remains on servicing our valued account partners and providing them with all the necessary tools for success.”

By business segments, the company added that the North American region showcased a diverse set of category strengths, with the United States producing double-digit growth inside the wholesale channel while Canada and Mexico both generated double-digit growth in their respective e-commerce channels. U.S. wholesale maintained its streak of double-digit quarterly growth, with all categories of business contributing to the overall 43.6 percent growth against the fourth quarter of 2023, Asics said.

The running specialty trade channel also saw high double-digit growth compared to the same period last year. Asics said this was driven by the launch of NovaBlast 5 shoe in December, which generated triple digit year-over-year quarterly growth and was supported by two key legends, the Gel-Nimbus and Gel-Cumulus footwear models. Both of which produced high double-digit growth compared to the same period last year.

As for the popular Sportstyle category, Asics noted that it remained “red hot” in the final quarter of 2024, generating triple-digit revenue growth against the same period in 2023. Following in the footsteps of the popular heritage running silhouette, Gel-Kayano 14 shoe, the two leading sales drivers for Q4 2024 were the Gel-1130 and GT-2160. Both footwear models produced high triple digit sales growth compared to same period in 2023.

Rounding out the category is Asics’ Core Performance Sports line, which includes the brands tennis and racket sport products. As a whole, the category increased 54.6 percent compared to Q4 of 2023 and was driven by a mix of high performance and entry level footwear models. The Gel-Resolution and Gel-Dedicate court models served as the top selling styles to support the continued growth and popularity of racket sports.

 What’s more, Asics said that for the first time in a decade, its retail division generated profit over the full year of 2024 – led by the brands flagship store in Manhattan’s Meatpacking District, growing 72.1 percent year-over-year. Following similar trends as the wholesale trade, key sales drivers were Asics’ energetic Blast product silo and Legends footwear models, including the Gel-Nimbus shoe.

“In a very short time, we have made great strides in the run specialty channel as well as the Sportstyle category,” Kodama added. “We remain strongly committed to building innovative products with unparalleled quality, and all the while providing the very best service to our key account partners.”

These regional results come as the overall Asics Corporation saw net sales in fiscal 2024 increase 18.9 percent to 678.5 billion yen ($4.48 billion) from 570.4 billion yen ($3.77 billion) in 2023.

According to the Broomfield, Colo.-based footwear brand, consolidated revenues in the fourth quarter of fiscal 2024 were $990 million, an increase of 3.1 percent from $960.1 million the same time last year. Net income in the quarter was $368.9 million, up from $253.6 million the prior year period, and diluted earnings per share were $6.36, a 52.9 percent increase from $4.16 last year.

By brand, the Crocs label’s revenues once again drove Q4’s strong results, with sales up 4.0 percent to $762 million. These results reflected a 5.0 percent increase in direct-to-consumer to $447 million and a 2.7 increase in wholesale to $315 million in the period.

Revenues for the Hey Dude brand in Q4 were flat against the same time last year at $228 million, which reflected a 7.2 percent increase to $133 million in DTC and a 8.6 percent decrease to $95 million in wholesale.

As for the full fiscal 2024, the company reported consolidated revenues for $4.10 billion, an increase of 3.5 percent from $3.96 billion in fiscal 2023. Net income for the year was $950.1 million, up from $792.6 million the prior year period, and diluted earnings per share were $13.17, a 9.5 percent increase from $12.03 last year.

By brand, Crocs revenues grew 8.8 percent to $3.3 billion in fiscal 2024. The results reflected a 9.9 percent increase in direct-to-consumer to $1.7 billion and a 7.6 percent rise in wholesale to $1.6 billion.

Revenues for the Hey Dude brand for fiscal 2024 dropped 13.2 percent to $824 million, reflecting a 3.9 percent decrease in direct-to-consumer to $368 million and a 19.5 percent drop in wholesale to $456 million.

“Our fourth quarter performance exceeded expectations across all metrics led by Crocs brand growth of 4 percent, as the North American business outperformed our plan and China growth accelerated from the third quarter,” Andrew Rees, chief executive officer of Crocs Inc, said in a statement. “Hey Dude revenue was flat to last year, higher than anticipated as direct-to-consumer sales inflected to growth.”

Looking ahead, the company is expecting revenues in the first quarter of 2025 to be down approximately 3.5 percent compared to the same time last year. Adjusted diluted earnings per share in Q1 2025 are expected to be between $2.38 and $2.52.

As for the full fiscal year 2025, Crocs Inc. is expecting revenues to grow approximately between 2 percent and 2.5 percent compared to full year 2024. Adjusted diluted earnings per share in fiscal 2025 are expected to be between $12.70 and $13.15.

“For 2025, we are expecting another year of revenue growth, led by mid-single digit growth in the Crocs brand,” Rees added. “We are pleased by the early signs of progress we made for Hey Dude during the fourth quarter and are taking a prudent approach to how we shape 2025 guidance for Hey Dude as we focus on reigniting the brand.”

The Manhattan Beach, Calif.-based footwear company reported net sales in the fourth quarter of fiscal 2024 of $2.21 billion, a 12.8 percent increase from $1.96 billion the same time last year.

Net earnings in Q4 were $99.3 million and diluted earnings per share were 65 cents, compared with net earnings of $87.2 million and diluted earnings per share of 56 cents the same time last year.

In the fourth quarter, Skechers noted that its wholesale sales grew 17.5 percent to $168.1 million, while direct-to-consumer sales grew 8.4 percent to $83.4 million in the period.

Despite the strong results, Skechers fell short of its guidance, causing its stock to fall on Thursday after the market closed.

The company previously stated it expected to see sales in Q4 of $2.22 billion and diluted earnings per share between 70 cents and 75 cents.

As for the full year, the company reported net sales of $8.97 billion, a 12.1 percent increase from $8.0 billion in fiscal 2023.

“Our 2024 record sales were driven by a strong response to our comfort technology products, and the outstanding execution of our talented and dedicated team in developing, marketing and managing the strategic allocation of our footwear, apparel and accessories worldwide,” Robert Greenberg, chief executive officer of Skechers, said in a statement. “We are confident in our strategic product, marketing and operational plans executed by our dedicated team will result in notable achievements and continued growth in the coming year.”

Net earnings in fiscal 2024 were $639.5 million and diluted earnings per share were $4.16, compared with prior-year net earnings of $545.8 million and diluted earnings per share of $3.49.

Skechers yearly earnings were also below expectations, with sales guidance in the range of $8.93 billion and $8.98 billion, and diluted earnings per share expected to be between $4.20 and $4.25.

Skechers chief operating officer David Weinberg added that though challenging market and shipping conditions persisted in a few countries, the strength of its business is attributable to a “differentiated market position, a highly attractive value proposition that combines comfort, innovation, style and quality at an attainable price.”

“We continue to advance our product innovation with comfort technologies across the portfolio, the latest example of which is our Skechers Cricket footwear in India,” Weinberg said. “Additionally, we remain committed to investing in our operations, including the expansion of our distribution centers in North America, China and Europe, as well as delivering an exceptional customer experience in direct-to-consumer such as with the opening of our first experiential performance store in Edmonton.”

Looking ahead to fiscal 2025, the company said it believes it will achieve sales between $9.70 billion and $9.80 billion and diluted earnings per share between $4.30 and $4.50 for the full year. As for the first quarter of 2025, Skechers said it expects to achieve net sales between $2.40 and $2.43 billion and diluted earnings per share between $1.10 and $1.15.

According to the Seattle-based performance running brand, reported revenue was up 9 percent year-over-year, fueled by growth in every region and channel. This outcome marked eight consecutive years of growth for the running brand, which delivered a 13 percent compound annual growth rate over that horizon.

Brooks noted that its global expansion efforts drove strong 2024 results in EMEA, where the company grew two and three times the pace of the performance running market growth rates in France and Germany, respectively. In APLA, Brooks grew 228 percent year-over-year in China, the second largest running market in the world.

According to data from Circana cited by Brooks, the brand maintained its position as the No. 1 adult performance running footwear brand in U.S. national retail for the third consecutive year. The brand also led the U.S. specialty retail channel throughout Q4, with a 19 percent year-over-year increase.

Brooks also cited that all of its core footwear franchises introduced new versions in 2024 for the first time since 2021, driving active full-price sales up 12 percent as consumers reacted favorably to the robust pipeline of fresh product, the company noted.

The Ghost and Adrenaline GTS led sales for the brand and together commanded more than 10 percent market share in U.S. retail for performance running footwear sold in the year, Brooks said. Ghost Max global revenue increased 203 percent in the new style’s first full year, helping to drive growth and add dimension to the popular Ghost franchise.

“The sun is shining on the performance running category, and we continue to welcome new people into the sport and our brand,” Dan Sheridan, chief executive officer of Brooks said in a statement on Thursday. “The Brooks team has never been better at crafting best-in-class running gear and experiences and then connecting with runners and active people in their health and wellness journeys.”

These results come just one day after Brooks announced it had expanded its global headquarters in Seattle.

For its new home, Brooks has taken over the new five-floor CornerStone building in the city’s Fremont neighborhood. The new space is located just across the street from Brooks’ current offices at Stone 34. Now, Brooks’ global headquarters now spans two buildings, occupying roughly 250,000 square feet of commercial space.

Brooks stated this expansion supports its growing employee base, which has doubled in size since relocating from Bothell, Wash., to Seattle in 2014. The company confirmed the HQ now supports more than 500 Seattle-based employees.

According to the Irvine, Calif.-based footwear company, net sales in the third quarter of fiscal 2025 increased 6.9 percent to $608.2 million, up from $520.4 million in the prior-year period.

Net income in the period was $75.1 million, or $2.43 per diluted share, compared to $55.6 million, or $1.81 per diluted share, in the prior-year period. Included in the current period’s net income per diluted share is an estimated 22 cent benefit related to the former CEO’s resignation, the company said.

Boot Barn also noted in its earnings statement that the quarterly increase was the result of incremental sales from new stores and the rise in consolidated same store sales. Boot Barn opened 13 new stores in Q3, bringing its total store count to 438.

John Hazen, interim chief executive officer of Boot Barn, was upbeat about the company’s Q3 performance in a statement on Thursday. “I want to thank the entire Boot Barn team for their excellent execution and dedication during a busy holiday season, which resulted in strong third quarter results and earnings per diluted share above the high-end of our guidance range,” Hazen said. “The strength we saw in the business was once again driven by broad-based growth across all major merchandise categories, channels and geographies.”

In light of its third quarter results, Boot Barn is raising its guidance again for the full fiscal year. Now, the company expects total sales for fiscal 2025 between $1.908 billion to $1.918 billion, representing growth of 14.5 percent to 15.1 percent over the prior year. This is up from its previous guidance of total sales for the year of $1.874 billion to $1.907 billion, representing growth of 12.4 percent to 14.4 percent over the prior year.

In the fourth quarter, Boot Barn expects total sales of $451 million to $460 million, representing growth of 16.1 percent to 18.4 percent over the prior-year period.

“In addition to strong sales, we continued to maintain our full-price selling model, resulting in merchandise margin expansion of 130 basis points,” Hazen added. “As we enter our fourth fiscal quarter, we feel very good about the overall tone of the business and the future growth potential of the brand.”

The Goleta, Calif.-based footwear company reported net sales in the third quarter of fiscal 2025 increased 17.1 percent to $1.827 billion compared to $1.560 billion the same time last year. Net income in the period was $456.7 million, up from $389.9 million in the same year-ago quarter.

Despite these results, however, shares for Deckers Brands were down nearly 17 percent in after-market trading on Thursday.

Looking at the company’s direct-to-consumer channel, Deckers reported a 17.9 percent increase in net sales to $1.011 billion, compared with $858.1 million in Q3 of fiscal 2024. Wholesale net sales for Q3 were up 16.2 percent to $815.8 million, compared with $702.2 million the same time last year.

By brand, Hoka saw the largest increase in sales in the third quarter, reporting a 23.7 percent rise to $530.9 million, up from $429.3 million in Q3 2024. Ugg also continued its winning streak in the period, posting net sales of $1.244 billion, a 16.1 percent increase from $1.072 billion last year.

As for Teva, the brand saw net sales decline 6.0 percent to $24.1 million, compared to $25.6 million the same time last year. And at the company’s Other Brands division, primarily composed of Koolaburra, the segment reported net sales decreased 16.6 percent to $28.0 million, compared with $33.6 million in Q3 2024.

“Deckers posted exceptional results in the third quarter, delivering record quarterly revenue, gross margin, and earnings,” Stefano Caroti, president and chief executive officer of Deckers Brands, said in a statement. “Ugg continued to experience incredible global momentum, with the brand’s iconic franchises capturing strong full price consumer demand across all regions. At the same time, Hoka delivered impressive results consistent with our strategy, remaining focused on scaling through innovative performance products.”

Looking ahead, Deckers raised its guidance for the year. The company now expects net sales for the full fiscal year 2025 to increase 15 percent to $4.9 billion. This is up from its previous guidance, which predicted sales for the year to rise 12 percent to $4.8 billion.

“Our increased full-year revenue outlook calls for 15 percent growth, which would be our fifth consecutive year growing mid-teens or higher, complemented by our commitment to maintain top-tier levels of operating margin,” Caroti added.

The news comes in tandem with the UK footwear brand’s third quarter trading update on Monday. According to Dr. Martens, group revenue rose 3 percent on a constant currency basis to 267 million pounds in the third quarter of fiscal 2025.

By region, the company said its Americas direct-to-consumer business was up 4 percent in the quarter, while its EMEA segment was down 5 percent which as impacted by the “deeply promotional” nature of several markets, Dr. Martens said. The company’s APAC direct business was up 17 percent with Japan continuing to deliver growth in the period.

By channel, the company’s direct-to-consumer performance was the result of e-commerce revenue growing by 2 percent on a constant currency basis and retail revenue declining by 1 percent.

Wholesale revenue grew by 9 percent against a weak comparative. The wholesale performance by region was in line with expectations, with EMEA and APAC up year-on-year and Americas wholesale down single-digit as anticipated, the company added.

“I am excited to be CEO of Dr. Martens,” Nwokorie said on Monday. “The global relevance of our iconic brand, the strength of our product line and the passionate commitment of our team give me great confidence for fiscal year 2025 and beyond. Our Q3 trading was as expected and our outlook for fiscal year 2025 remains unchanged.”

Nwokorie’s confidence comes as the company has been revamping its strategy in the wake of declining wholesale sales, inventory and supply chain problems in the U.S. It has also been looking to keep a lid on costs.

The company has taken “swift action” to implement its savings plan, which is set to deliver 25 million pounds in fiscal 2026, at the top end of previous guidance, thanks to tight cost controls across the business.

Looking ahead, the company said that its guidance and outlook for fiscal 2025 are unchanged and remain on track to achieve its objectives for the year, which include positive USA direct growth in the second half and net debt to decline to 310 million pounds from 330 million pounds.

“We continue to actively manage our costs and are on track to meet our inventory reduction target for fiscal year 2025,” Nwokorie added. “The team and I are squarely focused on returning the business to sustainable and profitable growth.”

On Wednesday, the German athletic company reported that currency adjusted sales in Q4 of 2024 grew 9.8 percent to 2.29 billion euros, while full year sales were up 4.4 percent to 8.82 billion euros and in line with outlook.

In the fourth quarter, both the operating result (EBIT) of 109 million euros, up from 94 million euros in Q4 2023 and net income of 24 million euros, up from 1 million euro from the same time last year, came in above last year’s levels, but below expectations.

The athletic company’s preliminary fourth quarter results prompted the brand’s shares to fall nearly 15 percent on Thursday.

All regions contributed to the sales growth in the fourth quarter, Puma said, which was driven by a strong improvement in the wholesale business (up 6.9 percent) and continued growth in direct-to-consumer (up 16.1 percent).

Puma added that when compared to the first nine months 2024, a stronger growth trajectory was achieved across EEMEA (up 14.3 percent), Europe (up 10.3 percent), Greater China (up 7.4 percent), other APAC (up 19.0 percent) and North America (up 2.6 percent), while LATAM’s sales growth was softer with an increase of 7.0 percent.

In Q4, Puma’s footwear business grew 9.2 percent, and apparel was up 8.8 percent, while accessories increased 14.5 percent, the company noted.

Turning to the full-year 2024, Puma noted that its operating results came in at 622 million euros, flat against last year’s level and in line with the EBIT outlook for the full year 2024. Net income for the year came in at 282 million euros, which is below prior year’s level of 305 million euros and the company’s expectations. This was mainly caused by higher net interest expenses and higher non-controlling interests, Puma said.

As a result of these earnings, Puma noted that it initiated a cost efficiency program with the objective to achieve an EBIT margin of 8.5 percent by 2027. This is set to be achieved by optimizing direct and indirect costs, including personnel expenses through better resource allocation aligned with our strategic growth areas, Puma noted.

Dubbed “nextlevel,” Puma chief executive officer Arne Freundt described the initiative as a comprehensive efficiency program targeting cost optimization and operational improvements.

“Combined with decisive actions already taken, we will implement further cost control measures in 2025,” Freundt said. “While we continue to operate in a dynamic environment, we are encouraged by our improved growth throughout 2024 and expect 2025 to grow stronger than 2024.”

The company added that its new cost efficiency initiative complements Puma’s brand elevation strategy aimed at building the foundation for sustainable and accelerated growth. In what remains a dynamic environment, Puma said it will continue to make strategic investments in its brand to accelerate growth, complemented by the “nextlevel” program.

Puma expects to report its complete fourth quarter and full-year 2024 results, and give its outlook on fiscal 2025, on March 12.

According to the German athletic company’s preliminary results for Q4 2024, Adidas saw revenues grow 24 percent in the period to 5.97 billion euros, up from 4.81 billion euros the same time last year. Excluding Yeezy sales in both years, currency-neutral revenues increased 18 percent, Adidas noted.

The company’s gross margin increased 5.2 percentage points to 49.8 percent, up from 44.6 percent in Q4 2023, while operating profit reached 57 million euros.

As for the full fiscal year, Adidas said revenues increased 11 percent in 2024 to 23.68 billion euros, compared to 21.43 billion euros in fiscal 2023. Full-year operating profit increased by more than 1 billion euros to 1.337 billion euros, up from 268 million euros in 2023.

Shares of Adidas AG were up over 4 percent on Tuesday.

“I am very pleased the way the fourth quarter and the full year developed for us at Adidas,” Bjørn Gulden, chief executive officer of Adidas, said in a statement. “[Achieving] 19 percent currency-neutral growth in a quarter that in general was difficult for the trade underlines the strong momentum we currently see for our brand and our products. We clearly see that consumers’ and retailers’ interest in our products is growing across both lifestyle and performance. Strong growth across all regions and divisions proves the good job our teams are doing.”

Gulden, who was honored as Person of the Year at the 2024 FNAAs last month, added that while Adidas is “not yet where we want to be long term,” the year ended “much better” than anticipated.

“We still have a lot to improve but I am very proud of what our teams and people have achieved in 2024,” Gulden said. “We also feel good about the future, and we see potential to increase our market share in all markets. There is a lot of macroeconomic uncertainty right now, but we clearly have the goal to again grow double-digit with the Adidas brand and use that growth to continue to improve our operating profit and make further progress towards our 10 percent margin target.”

Adidas is expected to release its final results for 2024 and issue guidance for 2025 on March 5.