Wolverine World Wide reports Q4 adjusted EPS (30c), consensus (27c)

Reports Q4 revenue $526.7M, consensus $513.37M. “We are effectively executing our transformation plan with great pace – having largely completed the stabilization phase of our turnaround,” said Chris Hufnagel, President and CEO. “We finished the year with revenue and earnings in-line with guidance, and inventory and debt levels better than expected. Most importantly, Wolverine Worldwide is a much different company than it was just six months ago, with a healthier balance sheet, enhanced efficiency to deliver higher profit and investment, and a redesigned organizational structure to strengthen our brand-building capabilities. Our focused portfolio of authentic brands – supported by powerful central platforms – is focused on helping consumers live better lives through performance-led product innovation and design. Going forward, we are accelerating our transformation of the business to ultimately drive an inflection to growth. Our team is energized by our new vision to become global brand builders, and we are confident in our ability to drive meaningful and sustained shareholder value.”