v3.25.2
Business Segments (Notes)
 6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
The Company’s portfolio of brands is organized into the following reportable segments.
•Active Group, consisting of Merrell® footwear and apparel, Saucony® footwear and apparel, Sweaty Betty® activewear, and Chaco® footwear; and
•Work Group, consisting of Wolverine® footwear and apparel, Cat® footwear, Bates® uniform footwear, Harley-Davidson® footwear and HYTEST® safety footwear;
The Company's operating segments are the Active Group, Work Group, and Sweaty Betty®. Sweaty Betty® and the Active Group were evaluated and combined into one reportable segment because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance. The Company's chief operating decision maker is the President and Chief Executive Officer. The chief operating decision maker uses segment operating profit to assess the performance of, and to allocate resources to, each segment.
Kids' footwear offerings from Saucony®, Merrell®, Hush Puppies® and Cat® are included with the applicable brand.
The Company also reports “Other” and “Corporate” categories. The Other category consists of Sperry® footwear, Hush Puppies® footwear and apparel, sourcing operations that include third-party commission revenues, multi-branded direct-to-consumer retail stores and the Stride Rite® licensed business. The Corporate category consists of unallocated corporate expenses, such as corporate employee costs, corporate facility costs, reorganization activities, impairment of long-lived assets and environmental and other related costs.
The reportable segments are engaged in designing, manufacturing, sourcing, marketing, licensing and distributing branded footwear, apparel and accessories. Revenue for the reportable segments includes revenue from the sale of branded footwear, apparel and accessories to third-party customers; revenue from third-party licensees and distributors; and revenue from the Company’s direct-to-consumer businesses. The Company’s reportable segments are determined based on how the Company internally reports and evaluates financial information used to make operating decisions.
Company management uses various financial measures to evaluate the performance of the reportable segments. The following is a summary of certain key financial measures for the respective fiscal periods indicated. The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company's chief operating decision maker.
 
Quarter Ended June 28, 2025
Quarter Ended June 29, 2024
(In millions)Active GroupWork GroupOtherCorporateTotalActive GroupWork GroupOtherCorporateTotal
Revenue$355.5 $107.5 $11.2 $— $474.2 $305.9 $105.0 $14.3 $— $425.2 
Cost of goods sold180.5 67.3 1.2 1.2 250.2 170.8 68.6 4.4 (1.8)242.0 
Operating expenses110.3 19.9 1.9 51.2 183.3 93.0 21.8 1.7 37.6 154.1 
Operating income$64.7 $20.3 $8.1 $(52.4)$40.7 $42.1 $14.6 $8.2 $(35.8)$29.1 
Interest expense, net8.5 11.9 
Other income, net(1.4)(0.8)
Earnings before income taxes$33.6 $18.0 
 
Year-To-Date Ended June 28, 2025
Year-To-Date Ended June 29, 2024
(In millions)Active GroupWork GroupOtherCorporateTotalActive GroupWork GroupOtherCorporateTotal
Revenue$682.2 $182.3 $22.0 $— $886.5 $595.7 $195.1 $29.3 $— $820.1 
Cost of goods sold347.0 115.0 2.5 3.2 467.7 328.2 124.8 11.7 (9.2)455.5 
Operating expenses212.4 39.9 3.9 102.2 358.4 189.2 43.0 5.2 101.2 338.6 
Operating income$122.8 $27.4 $15.6 $(105.4)$60.4 $78.3 $27.3 $12.4 $(92.0)$26.0 
Interest expense, net16.5 23.9 
Other income, net(2.9)(1.6)
Earnings before income taxes$46.8 $3.7 
Depreciation and amortization expense$3.1 $0.2 $0.6 $8.6 $12.5 $3.3 $0.2 $0.7 $9.1 $13.3 
Capital expenditures$1.9 $— $0.5 $8.6 $11.0 $2.0 $— $0.7 $5.4 $8.1 
(In millions)June 28,
2025		December 28,
2024		June 29,
2024
Total assets:
Active Group$1,111.6 $1,011.6 $1,072.7 
Work Group275.1 266.2 282.8 
Other91.0 79.4 98.5 
Corporate330.8 311.6 342.3 
Total$1,808.5 $1,668.8 $1,796.3 
Goodwill:
Active Group$322.2 $315.4 $316.5 
Work Group61.4 60.2 60.2 
Other49.0 49.0 49.1 
Total$432.6 $424.6 $425.8