||WOLVERINE WORLD WIDE, INC.
9341 Courtland Drive, Rockford, MI 49351
Phone (616) 866-5500; FAX (616) 866-0257
FOR IMMEDIATE RELEASE
CONTACT: Don Grimes
WOLVERINE WORLD WIDE, INC. ANNOUNCES RECORD PERFORMANCE FOR FOURTH QUARTER AND FULL YEAR;
GUIDES TO RECORD REVENUE AND EARNINGS IN FISCAL 2011
Rockford, Michigan, February 1, 2011
Wolverine World Wide, Inc. (NYSE: WWW) today
reported record revenue and earnings per share for both the fourth quarter and full fiscal year
ended January 1, 2011. This excellent financial performance underscores the broad strength and
consumer appeal of the Companys portfolio of lifestyle brands.
Reported revenue for the full year was a record $1.249 billion, an increase of 13.4% versus
prior year revenue of $1.101 billion. Adjusted earnings per fully diluted share were $2.17, a
22.6% increase compared to 2009 adjusted earnings of $1.77 per share. Both years adjusted
earnings exclude the impact of restructuring charges and other expenses related to the Companys
strategic restructuring plan that was completed in the second quarter of 2010. Reported fully
diluted earnings for the year were $2.11 per share compared to $1.24 per share in 2009.
Reported revenue for the fourth quarter was a record $385.0 million, a 23.2% increase versus
the prior year. Fully diluted earnings in the quarter were a record $0.52 per share, an increase
of 15.6% compared to fourth quarter 2009 adjusted diluted earnings of $0.45. The prior years
adjusted earnings exclude the impact of restructuring charges and other expenses related to the
Companys strategic restructuring plan. Reported earnings for the fourth quarter of 2009 were
$0.33 per share.
We are extremely pleased with the Companys exceptional financial performance in 2010,
highlighted by record revenue and record earnings per share, said Blake W. Krueger, the Companys
Chairman and Chief Executive Officer. All four branded operating groups contributed to the years
record results, and all geographic regions delivered double-digit revenue growth. The Companys
fourth quarter performance was also exceptional, and this momentum, coupled with a strong
double-digit order backlog and enthusiastic responses to our 2011 product offerings, positions the
Company for an excellent 2011.