Wolverine World Wide announced on Wednesday revenue fell 6.1% to $494.7 million for the fourth quarter, with the footwear and apparel firm continuing to turnaround sales declines after downsizing its business throughout 2023 and 2024.

The Rockford, Michigan-based firm said international revenue fell 5.4% to $252.7 million, while direct-to-consumer sales were down 18.8% to $151.7 million.

By brand, Merrell climbed 1% to $163.4 million, Saucony declined 5.3% to $99.6 million, and Wolverine brand sales jumped 20.5% to $62.4 million. The company’s Sweaty Betty brand decreased 5.9% to $63.4 million during the quarter.

For the full-year ending December 28, total revenues decreased 21.8% to $1.7 billion, the company added.

“A year ago, we outlined an ambitious turnaround strategy composed of three chapters: stabilization, transformation, and inflection. 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,” said Chris Hufnagel, president and chief executive officer of Wolverine Worldwide. 

“I’m pleased to report that we accomplished all of these objectives. In the fourth quarter, we exceeded our expectations for revenue and earnings 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. Our team is encouraged by the work we’ve accomplished together and excited to turn the page.”

Looking ahead, Wolverine said revenue from its ongoing business is expected to be approximately $1.795 to $1.825 billion, representing growth of approximately 2.5% to 4.3% compared to 2024. 

The company sold its Keds brand in February 2023, its U.S. Wolverine leathers business, in August 2023, its non-U.S. Wolverine leathers business, in December 2023, as well as its Sperry business, which was sold in January 2024.

“2024 was a pivotal year for our 142-year-old company. 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,” Hufnagel added. “The most important chapter is the next one, as we drive together to deliver better, more consistent returns for our shareholders.”