Wolverine World Wide reports Q2 adjusted EPS 15c, consensus 12c

Reports Q2 revenue $425.2M, consensus $411.18M. “We delivered better-than-expected revenue and earnings in the Q2 while continuing to execute our ambitious turnaround plan,” said Chris Hufnagel, President and CEO. “A year ago, we began to take fast and bold actions to build a new and better Company – focused squarely on our consumer and our new global brand-building model. Our team has executed with tremendous pace and urgency, driving substantial progress across the business. We’ve significantly lowered our debt and inventory levels, while meaningfully expanding our gross margin, and we’re beginning to see proof points of an inflection to growth – driven by stronger product pipelines and improved demand creation. Every day we’re making progress to position the Company for sustained growth in the future and, ultimately, to deliver better performance and greater returns for our shareholders.”