Wolverine World Wide sees FY23 adjusted EPS 45c-55c, consensus $1.42

Sees FY23 revenue $2.26B-$2.28B, consensus $2.51B. “We remain focused on improving our balance sheet metrics while driving further profit improvement benefits. We now expect the Profit Improvement Office to deliver at least $70 million in savings for 2023. We are on track to deliver our year-end inventory target of $520 million, which will set the business up for new product and cleaner trading in 2024. In order to accelerate debt pay down, we have plans to sell at least $50 million of non-core assets over the coming months.”