Wolverine World Wide (WWW) shares ended the last trading session 6.8% higher at $17.18. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.2% gain over the past four weeks.

Wolverine’s stock rally is an extension of its ongoing innovation efforts, which have impressed investors. The company’s emphasis on delivering trend-driven, innovative products has strongly resonated with consumers. Saucony, one of Wolverine's top brands, stands out with its innovative product launches and successful collaborations, boosting long-term brand equity.

Merrell and Sweaty Betty are other brands that have strengthened their market positions through modernization initiatives and targeted campaigns, contributing to overall brand growth. These strategic brand-building investments are crucial for sustaining long-term growth, allowing the company to differentiate itself in a competitive market, attract loyal customers, and drive repeat purchases.

This footwear maker is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $421.12 million, down 20.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Wolverine, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on WWW going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Wolverine belongs to the Zacks Shoes and Retail Apparel industry. Another stock from the same industry, Carter's (CRI), closed the last trading session 0.7% higher at $66.69. Over the past month, CRI has returned -0.6%.

For Carter's , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.28. This represents a change of -30.4% from what the company reported a year ago. Carter's currently has a Zacks Rank of #4 (Sell).

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