Wolverine World Wide reports Q3 adjusted EPS 7c, consensus 7c

Reports Q3 revenue $527.7M, consensus $514.16M. On a constant currency basis, EPS was 11c. “In Q3, we achieved several critical milestones as we took decisive action to stabilize and transform the Company, while delivering revenue and earnings in-line with our expectations,” said CEO Chris Hufnagel. “We continued to reshape our portfolio, reduce our inventory, and redesign the Company to become consumer-obsessed brand builders – focused squarely on building compelling products and telling amazing stories. We announced additional details on these actions in another press release this morning. While market conditions remain challenging, we’re taking the necessary steps to reinvigorate our brands and position the Company for profitable growth as conditions improve. We’re confident in our brands, platforms, and most importantly, our people. We’re executing more boldly and at a greater pace to improve our profitability and enable future investments focused on our biggest growth opportunities – all aimed at delivering greater value for our shareholders.”