SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the second twelve week accounting period ended June 15, 1996

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________ to _________

Commission File Number 1-6024

WOLVERINE WORLD WIDE, INC.
(Exact Name of Registrant as Specified in its Charter)

DELAWARE 38-1185150
(State or Other Jurisdiction of (IRS Employer
Incorporation or Organization) Identification No.)

9341 COURTLAND DRIVE, ROCKFORD, MICHIGAN 49351
(Address of Principal Executive Offices) (Zip Code)

(616) 866-5500
(Registrant's Telephone Number, including Area Code)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding twelve (12) months (or for such shorter period
that the registrant was required to file such reports) and (2) has been
subject to such filing requirements for the past ninety (90) days.

Yes __X__ No _____

Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of the latest practicable date.

There were 18,493,250 shares of Common Stock, $1 par value,
outstanding as of July 23, 1996, of which 557,343 shares are held
as Treasury Stock. The shares outstanding have not been adjusted
for the 3-for-2 stock split payable on August 16, 1996, on shares
outstanding at the close of business on July 26, 1996.

PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS
(THOUSANDS OF DOLLARS)

JUNE 15, DECEMBER 30, JUNE 17,
1996 1995 1995
(UNAUDITED) (AUDITED) (UNAUDITED)

ASSETS

CURRENT ASSETS
Cash and cash equivalents $ 8,444 $ 27,088 $ 2,396
Accounts receivable, less allowances
June 15, 1996 - $4,648
December 30, 1995 - $3,407
June 17, 1995 - $4,961 81,204 83,392 73,317
Inventories:
Finished products 85,699 45,814 70,942
Raw materials and work in process 43,081 42,536 38,917
128,780 88,350 109,859

Other current assets 9,340 15,896 15,098
Net current assets of discontinued operations 32 149 1,403

TOTAL CURRENT ASSETS 227,800 214,875 202,073

PROPERTY, PLANT & EQUIPMENT
Gross cost 117,706 109,731 102,215
Less accumulated depreciation 65,473 62,846 64,258
52,233 46,885 37,957

OTHER ASSETS 28,450 21,794 21,854

TOTAL ASSETS $308,483 $283,554 $261,884

See notes to consolidated condensed financial statements.

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WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS - CONTINUED
(THOUSANDS OF DOLLARS)

JUNE 15, DECEMBER 30, JUNE 17,
1996 1995 1995
(UNAUDITED) (AUDITED) (UNAUDITED)

LIABILITIES AND STOCKHOLDERS'
EQUITY

CURRENT LIABILITIES
Notes payable to banks $ 2,969 $ 2,339 $ 2,881
Accounts payable and other accrued
liabilities 39,034 35,224 40,626
Current maturities of long-term debt 73 84 120
TOTAL CURRENT LIABILITIES 42,076 37,647 43,627

LONG-TERM DEBT (less current maturities) 42,555 30,594 69,702

OTHER NONCURRENT LIABILITIES 10,370 11,099 10,950

STOCKHOLDERS' EQUITY
Common Stock - par value $1, authorized
40,000,000 shares; shares issued
(including shares in treasury):
June 15, 1996 - 28,537,497 shares
December 30, 1995 - 28,173,870 shares
June 17, 1995 - 25,473,935 shares 28,537 18,783 16,983
Additional paid-in capital 64,582 70,716 21,651
Retained earnings 130,945 123,593 107,136
Accumulated translation adjustments (351) (324) 340
Unearned compensation (3,504) (1,827) (1,987)
Cost of shares in treasury:
June 15, 1996 - 547,591 shares
December 30, 1995 - 547,913 shares
June 17, 1995 - 562,645 shares (6,727) (6,727) (6,518)

TOTAL STOCKHOLDERS' EQUITY 213,482 204,214 137,605

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $308,483 $283,554 $261,884

( ) - Denotes deduction.

See notes to consolidated condensed financial statements.

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WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS
OF OPERATIONS

(THOUSANDS OF DOLLARS, EXCEPT PER SHARE DATA)
(UNAUDITED)

12 WEEKS ENDED 24 WEEKS ENDED
JUNE 15, JUNE 17, JUNE 15, JUNE 17,
1996 1995 1996 1995

NET SALES AND OTHER
OPERATING INCOME $ 94,153 $ 86,289 $ 177,995 $ 162,620

Cost of products sold 62,836 58,799 121,355 112,342
GROSS MARGIN 31,317 27,490 56,640 50,278

Selling and administrative expenses 23,162 21,172 43,651 40,085
OPERATING INCOME 8,155 6,318 12,989 10,193

OTHER EXPENSES (INCOME):
Interest expense 833 952 1,459 1,653
Interest income (149) (177) (556) (405)
Other - net (382) (104) (705) (321)
302 671 198 927

EARNINGS BEFORE INCOME
TAXES 7,853 5,647 12,791 9,266

Income taxes 2,420 1,750 3,965 2,872

NET EARNINGS $ 5,433 $ 3,897 $ 8,826 $ 6,394

EARNINGS PER SHARE:
Primary $ .19 $ .15 $ .31 $ .25
Fully diluted $ .19 $ .15 $ .31 $ .25

CASH DIVIDENDS PER SHARE $ .027 $ .023 $ .053 $ .045

SHARES USED FOR NET
EARNINGS PER SHARE
COMPUTATION:
Primary 28,445,246 25,320,441 28,331,140 25,168,896
Fully diluted 28,523,082 25,320,441 28,451,719 25,234,939

See notes to consolidated condensed financial statements.

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WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(THOUSANDS OF DOLLARS)
(UNAUDITED)

24 WEEKS ENDED
JUNE 15, JUNE 17,
1996 1995

OPERATING ACTIVITIES
Net earnings $ 8,826 $ 6,394
Depreciation, amortization and other non-cash items (161) 1,696
Unearned compensation (1,677) (674)
Changes in operating assets and liabilities:
Accounts receivable 12,676 (2,648)
Inventories (31,275) (30,834)
Other current assets 1,275 (608)
Accounts payable and other accrued liabilities 2,074 (658)

NET CASH USED IN OPERATING ACTIVITIES (8,262) (26,658)

FINANCING ACTIVITIES
Proceeds from long-term borrowings 12,000 38,181
Payments of long-term borrowings (50) (12,145)
Proceeds from short-term borrowings 630 3,449
Payments of short-term borrowings (2,000)
Cash dividends (1,474) (1,131)
Proceeds from shares issued under employee stock plans 3,620 1,797

NET CASH PROVIDED BY FINANCING ACTIVITIES 14,726 28,151

INVESTING ACTIVITIES
Purchase of business product line (22,750)
Additions to property, plant and equipment (5,841) (5,187)
Net decrease in notes receivable 3,796 4,031
Other (313) (216)

NET CASH USED IN INVESTING ACTIVITIES (25,108) (2,046)

DECREASE IN CASH AND CASH EQUIVALENTS (18,644) (553)

Cash and cash equivalents at beginning of year 27,088 2,949

CASH AND CASH EQUIVALENTS AT END OF
SECOND ACCOUNTING PERIOD $ 8,444 $ 2,396

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( ) - Denotes reduction in cash and cash equivalents.

See notes to consolidated condensed financial statements.

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WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
JUNE 15, 1996

NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated condensed financial statements have
been prepared in accordance with generally accepted accounting principles
for interim financial information and with the instructions to Form 10-Q
and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of
the information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management,
all adjustments (consisting solely of normal recurring accruals) considered
necessary for fair presentation have been included. For further
information, refer to the consolidated financial statements and footnotes
included in the Company's Annual Report on Form 10-K for the fiscal year
ended December 30, 1995. Certain amounts in 1995 have been reclassified to
conform with the presentation used in 1996.

NOTE B - FLUCTUATIONS

The Company's sales are seasonal, particularly in its major divisions, The
Hush Puppies Company, the Wolverine Footwear Group and the Wolverine
Slipper Group. Seasonal sales patterns and the fact that the fourth quarter
has sixteen or seventeen weeks as compared to twelve weeks in each of the
first three quarters cause significant differences in sales and earnings
from quarter to quarter. These differences, however, follow a consistent
pattern each year.

NOTE C - BUSINESS ACQUISITION

On March 22, 1996, the Company consummated the acquisition of certain net
assets of the Hy-Test product line from The Florsheim Shoe Company. The
preliminary purchase price at the closing date was $22,750,000 in cash and
has been allocated to the related assets and liabilities at June 15, 1996.
A final purchase price allocation will be completed in future periods based
on the review and agreement of both parties on the final closing balance
sheet.

NOTE D - COMMON STOCK

On July 11, 1996, the Company announced a 3-for-2 stock split on shares
outstanding on July 26, 1996 payable on August 16, 1996. All share and per
share data have been retroactively adjusted for the increased shares
resulting from the stock split.

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NOTE E - EARNINGS PER SHARE

Primary earnings per share are computed based on the weighted average
shares of common stock outstanding during each period assuming that the
stock split described in Note D had been completed at the beginning of
the earliest period presented. Common stock equivalents (stock options)
are included in the computation of primary and fully diluted earnings
per share.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

RESULTS OF OPERATIONS - COMPARISONS OF SECOND QUARTER AND YEAR-TO-DATE 1996
TO SECOND QUARTER AND YEAR-TO-DATE 1995

Second quarter net sales and other operating income of $94.2 million for
1996 exceeded 1995 levels by $7.9 million (a 9.1% increase), and 1996
year-to-date net sales and other operating income of $178.0 million
compares to $162.6 million recorded for the comparable period of 1995
(a 9.5% increase). The strong performance of the Wolverine Footwear Group
continued, accounting for $7.0 million of the increase in quarterly net
sales and other operating income and $9.2 million of the year-to-date
increase. United States Department of Defense shipments accounted for
$2.7 million and $7.5 million of the quarterly and year-to-date increases,
respectively, helping to offset a $2.0 million second quarter decrease in
the Wolverine Slipper Group. Second quarter sales in the Hush Puppies
Wholesale Division remained flat resulting from the continued soft
retail climate. The Wolverine Leather Division recognized slight
sales increases for the quarter.

Gross margin as a percentage of net sales and other operating income for
the second quarter of 1996 was 33.3% compared to 31.9% for the comparable
period of the prior year. Year-to-date gross margin of 31.8% for 1996
compared to 30.9% for the same period in 1995. Improved margins were
recorded in the Wolverine Footwear Group through increased licensing
revenues and manufacturing and sourcing efficiencies. The Wolverine
Leather Division continued its strong performance, reporting a year-to-
date 3.7 percentage point increase in gross margin. This increase was
attributable to a more favorable product mix, higher production levels
and continued control of overhead costs.

Selling and administrative expenses of $23.2 million (24.6% of net
sales and other operating income) for the second quarter of 1996 remained
relatively consistent with the 1995 second quarter level of $21.2
million (24.5% of net sales and other operating income). Year-to-date
selling and administrative expenses of $43.7 million (24.5% of net sales
and other operating income) in 1996 are also comparable to $40.1
million (24.6% of net sales and other operating income) in 1995. Year-to-
date selling, advertising and distribution costs associated with the
increased sales volume combined with advertising and promotional
investments for the Wolverine Footwear Group accounted for $3.3 million
of the increase. Hush Puppies Wholesale Division distribution costs have
decreased 11.1% from $1.9 million to $1.7 million, reflecting cost savings
of the Company's incentive wage program and elimination of temporary
warehousing costs.

Interest expense for the second quarter of 1996 was $0.8 million, compared
to $1.0 million for the same period of 1995. Year-to-date interest expense
for 1996 and 1995 was $1.5 million and $1.7 million, respectively. The

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decrease in interest expense for the second quarter and year-to-date
for 1996 as compared to 1995 was primarily a result of the equity offering
in the fourth quarter of 1995, discussed below, which decreased borrowings
and increased interest income.

The effective income tax rate on net earnings remained consistent on a
year-to-date basis in 1996 compared to the 1995 level (31.0% in both 1996
and 1995). The effective tax rate reflects the anticipated annualized rate
for the Company giving consideration to the non-taxable net earnings of
foreign subsidiaries.

Net earnings of $5.4 million ($.19 per share, post split) for the twelve
weeks ended June 15, 1996 compared favorably to earnings of $3.9 million
($.15 per share, post split) for the respective period of 1995 (a 39.4%
increase). Year-to-date net earnings of $8.8 million ($.31 per share, post
split) in 1996 compared with earnings of $6.4 million ($.25 per share, post
split) for the same period of 1995 (a 38.0% increase). Increased earnings
are primarily a result of the items noted above.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Accounts receivable of $81.2 million at June 15, 1996 reflects an increase
of $7.9 million over the balance at June 17, 1995 and a decrease of $2.2
million over the balance at December 30, 1995. Inventories of $128.8
million at June 15, 1996 reflect an increase of $18.9 million and $40.4
million over the balances at June 17, 1995 and December 30, 1995,
respectively. The increases in accounts receivable and inventories were
due primarily to the acquisition of the assets of the Hy-Test Division of
The Florsheim Shoe Company. Excluding the Hy-Test Division additions,
inventories at June 15, 1996 increased 8.9% over the June 17, 1995
balance, which is in line with the 9.5% sales growth discussed above.
Second quarter order backlogs have increased 26.4% when compared to 1995,
supporting the requirement for increased inventories.

Other current assets of $9.3 million at June 15, 1996 reflect a
decrease of $6.6 million and $5.8 million as compared to December 30,
1995 and June 17, 1995, respectively. The decreases were primarily a
result of the collection of the final $4.0 million payment due on notes
receivable related to the 1992 disposition of the Brooks athletic
footwear business.

Additions to property, plant and equipment of $5.8 million in the first
half of 1996 compares to $5.2 million reported during the same period in
1995. The majority of these expenditures relate to the modernization
of corporate facilities, expansion of warehouse facilities and purchases of
manufacturing equipment necessary to continue to upgrade the Company's
footwear and leather manufacturing facilities which will enhance the
Company's ability to respond to product demand on a timely and cost-
effective basis.

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Short-term debt of $3.0 million at June 15, 1996 compared to $2.9
million at June 17, 1995 and $2.3 million at December 30, 1995. Long-term
debt, excluding current maturities, of $42.6 million at June 15, 1996
compares to $69.7 million and $30.6 million at June 17, 1995 and December
30, 1995, respectively. The decrease in long-term debt levels from June 17,
1995 is attributable to the pay down of the Company's revolving credit
facility with funds generated by the November 1995 equity offering
discussed below.

It is expected that continued growth of the Company will require increases
in capital funding over the next several years. The Company is currently
evaluating its capital requirements in order to assure that proper credit
facilities are available. The combination of credit facilities and cash
flows from operations are expected to be sufficient to meet future
capital needs.

The 1996 second quarter dividend declared of $.027 per share of common
stock represents a 14.3% increase over the $.023 per share declared for
the second quarter of 1995. The second quarter 1996 dividend is payable
August 1, 1996 to stockholders of record on July 1, 1996. Additionally,
shares issued under stock incentive plans provided cash of $3.6 million
during the first two quarters of 1996 compared to $1.8 million for the
same period in 1995. On July 11, 1996, the Company announced a 3-for-2
stock split on shares outstanding of the close of business on July 26,
1996. All share and per share data have been retroactively adjusted
for the 3-for-2 stock split payable on August 16, 1996.

The Company further strengthened its financial position in 1995 through a
successful public offering of 1,737,500 shares of common stock at $29.875
per share (pre-split). The $48.9 million of net proceeds from this
offering were used in part to reduce debt in the fourth quarter of 1995
and to acquire certain assets of the Hy-Test work, safety and
occupational footwear business of The Florsheim Shoe Company for
approximately $22,750,000 at the end of the first quarter 1996.

INFLATION

Inflation has not had a significant effect on the Company over the past
three years nor is it expected to have a significant effect in the
foreseeable future. The Company continuously attempts to minimize the
effect of inflation through cost reductions and improved productivity.

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PART II. OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES

On April 17, 1996, the Company held its 1996 Annual Meeting of
Stockholders. At the meeting, the stockholders voted to approve an
amendment to the Company's Certificate of Incorporation to increase the
Company's authorized capital from 25,000,000 shares of Common Stock, $1.00
par value per share ("Common Stock"), to 40,000,000 shares of Common Stock.

All of the additional shares resulting from the increase in the Company's
authorized Common Stock are of the same class, with the same dividend,
voting and liquidation rights, as shares of Common Stock previously
outstanding. The Company's authorized capital also includes 2,000,000
shares of preferred stock, none of which is currently outstanding.

The newly authorized shares of Common Stock are unreserved and available
for issuance. No further stockholder authorization is required prior to
the issuance of such shares by the Company. Stockholders have no
preemptive rights to acquire shares issued by the Company under its
Certificate of Incorporation, and stockholders did not acquire any such
rights with respect to such additional shares of Common Stock under the
amendment to the Company's Certificate of Incorporation. Under some
circumstances, the issuance of additional shares of Common Stock could
dilute the voting rights, equity and earnings per share of existing
stockholders.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On April 17, 1996, the Company held its 1996 Annual Meeting of
Stockholders. The purposes of the meeting were: to elect two Directors for
three-year terms expiring in 1999; to consider and approve an amendment to
the Company's Certificate of Incorporation to increase the amount of
authorized capital from 25,000,000 shares of Common Stock to 40,000,000
shares of Common Stock; and to consider and ratify the appointment of Ernst
& Young LLP as the Company's independent auditors for the current fiscal
year.

Two candidates nominated by management were elected by the stockholders to
serve as Directors of the Company at the meeting. The following sets forth
the results of the voting with respect to each candidate:

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NAME OF CANDIDATE SHARES VOTED

Daniel T. Carroll For 15,836,922
Authority Withheld 44,322
Broker Non-Votes 0

Phillip D. Matthews For 15,844,534
Authority Withheld 36,710
Broker Non-Votes 0

The following persons remained as Directors of the Company with terms
expiring in 1998: Geoffrey B. Bloom, David T. Kollat, David P. Mehney, and
Timothy J. O'Donovan. The following persons remained as Directors of the
Company with terms expiring in 1997: Alberto L. Grimoldi, Joseph A. Parini,
Joan Parker, and Elizabeth A. Sanders.

The stockholders also voted to approve the amendment to the Certificate of
Incorporation to increase the amount of authorized capital stock as
described in Item 2 of Part II of this Report on Form 10-Q. The following
sets forth the results of the voting with respect to this matter:

SHARES VOTED

For 14,768,418
Against 1,055,704
Abstentions 27,872
Broker Non-votes 38,450

The stockholders also voted to approve the appointment of Ernst & Young LLP
by the Board of Directors as independent auditors of the Company for the
current fiscal year. The following sets forth the results of the voting
with respect to this matter:

SHARES VOTED

For 15,847,811
Against 18,180
Abstentions 15,253
Broker Non-votes 9,200

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ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a) EXHIBITS. The following documents are filed as exhibits to this
Report on Form 10-Q:

EXHIBIT
NUMBER DOCUMENT

3.1 Certificate of Incorporation, as amended.

3.2 Amended and Restated Bylaws. Previously filed as Exhibit
3.2 to the Company's Annual Report on Form 10-K for the
fiscal year ended December 30, 1995. Here incorporated by
reference.

4.1 Certificate of Incorporation, as amended. See Exhibit 3.1
above.

4.2 Rights Agreement dated as of May 7, 1987, as amended and
restated as of October 24, 1990. Previously filed with
Amendment No. 1 to the Company's Form 8-A filed November 13,
1990. Here incorporated by reference. This agreement has
been amended by the Second Amendment to Rights Agreement
included as Exhibit 4.6 below.

4.3 Amended and Restated Credit Agreement dated as of October
13, 1994 with NBD Bank, N.A. as Agent. Previously filed as
Exhibit 4(c) to the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 1994. Here incorporated
by reference.

4.4 Note Agreement dated as of August 1, 1994 relating to 7.81%
Senior Notes. Previously filed as Exhibit 4(d) to the
Company's Quarterly Report on Form 10-Q for the period ended
September 10, 1994. Here incorporated by reference.

4.5 The Registrant has several classes of long-term debt
instruments outstanding in addition to that described in
Exhibit 4.4 above. The amount of none of these classes of
debt exceeds 10% of the Company's total consolidated assets.
The Company agrees to furnish copies of any agreement
defining the rights of holders of any such long-term
indebtedness to the Securities and Exchange Commission upon
request.

4.6 Second Amendment to Rights Agreement made as of October 28,
1994 (amending the Rights Agreement included as Exhibit 4.2
above). Previously filed as Exhibit 4(f) to the Company's
Annual Report on Form 10-K for the fiscal year ended
December 31, 1994. Here incorporated by reference.

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EXHIBIT
NUMBER DOCUMENT

10.1 Supplemental Executive Retirement Plan, as amended.

10.2 Wolverine World Wide, Inc. Outside Directors' Deferred
Compensation Plan.

27 Financial Data Schedule.

(b) REPORT ON FORM 8-K. No reports on Form 8-K were filed
during the period for which this report is filed.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

WOLVERINE WORLD WIDE, INC.
AND SUBSIDIARIES

JULY 30, 1996 /S/GEOFFREY B. BLOOM
Date Geoffrey B. Bloom
Chairman and Chief Executive Officer
(Duly Authorized Signatory for Registrant)

JULY 30, 1996 /S/STEPHEN L. GULIS, JR.
Date Stephen L. Gulis, Jr.
Executive Vice President, Chief Financial
Officer and Treasurer (Principal Financial
Officer and Duly Authorized Signatory for
Registrant)

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EXHIBIT INDEX

EXHIBIT
NUMBER DOCUMENT

3.1 Certificate of Incorporation, as amended.

3.2 Amended and Restated Bylaws. Previously filed as Exhibit
3.2 to the Company's Annual Report on Form 10-K for the
fiscal year ended December 30, 1995. Here incorporated by
reference.

4.1 Certificate of Incorporation, as amended. See Exhibit 3.1
above.

10.1 Supplemental Executive Retirement Plan, as amended.

10.2 Wolverine World Wide, Inc. Outside Directors' Deferred
Compensation Plan.

27 Financial Data Schedule.