secwatch.observer — SEC 8-K summary
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Issuer:     WOLVERINE WORLD WIDE INC /DE/ (WWW)
CIK:        0000110471
Form:       8-K
Filed at:   2023-02-22T23:59:59+00:00
Accession:  0000110471-23-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolverine Worldwide Q4 GAAP EPS -$4.59 on $428.7M impairment; guides 2023 revenue growth 0-2%
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- Q4 revenue $665M (+4.6% YoY, +8.4% constant currency); GAAP diluted EPS -$4.59 vs -$0.18 prior year.
- Q4 includes $428.7M non-cash impairment of Sperry and Sweaty Betty intangible assets.
- Full-year 2022 revenue $2.68B (+11.2%); adjusted diluted EPS $1.41 vs $1.85 prior year.
- Inventory reduced ~$90M sequentially to $745.2M; net debt down to $1.02B from $1.35B.
- 2023 guidance: ongoing revenue $2.53B-$2.58B (0-2% growth); adjusted EPS $1.40-$1.60; adjusted operating margin ~8.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000018/0000110471-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000018/www-20230222.htm
  HTML page:      https://secwatch.observer/filing/0000110471-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer