---
schema_version: "secwatch.filing_event.v1"
accession: "0000110471-23-000062"
form_type: "8-K"
ticker: "WWW"
cik: "0000110471"
company_name: "WOLVERINE WORLD WIDE INC /DE/"
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T05:48:14.243276+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Wolverine Q1 adjusted EPS $0.09 vs $0.38; exploring Sperry strategic alternatives

## Summary
- Reported revenue $599.4M (-2.5% YoY); ongoing business constant currency growth +2.9%.
- Active Group constant currency revenue +15% led by Merrell (+20.3%) and Saucony (+24.5%).
- Adjusted gross margin 40.0% (down 350 bps); inventory $725.9M, down $19M sequentially.
- Full-year 2023 outlook reaffirmed: ongoing revenue $2.53-2.58B, adjusted EPS $1.40-1.60.
- Exploring strategic alternatives for Sperry, continuing portfolio optimization after Keds sale.

## SEC filing metadata
- accession: 0000110471-23-000062
- form_type: 8-K
- ticker: WWW
- cik: 0000110471
- company_name: WOLVERINE WORLD WIDE INC /DE/
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/110471/000011047123000062/0000110471-23-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/110471/000011047123000062/www-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000110471-23-000062
- JSON: https://secwatch.observer/filing/0000110471-23-000062.json
- Plain text: https://secwatch.observer/filing/0000110471-23-000062.txt

## Key facts
- Earnings Releases
  WOLVERINE WORLD WIDE INC /DE/ reported first quarter ended April 1, 2023 results: revenue $599.4 million, EPS $0.23. Guidance reaffirmed.
  - Period: first quarter ended April 1, 2023
  - Revenue: $599.4 million
  - EPS: $0.23
  - Guidance: reaffirmed
  - Result: reported results
  source text: bps Adjusted Operating Margin 5.1% 8.2% (310) bps Adjusted Diluted Earnings Per Share $0.09 $0.38 (76.3)% Constant Currency Earnings Per Share $0.12 $0.38 (68.4)% Revenue of $599.4 million declined 2.5% versus the prior year and declined 0.5% on a constant currency basis. Revenue from the ongoing business was $580.4 million representing constant currency growth of
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000062/0000110471-23-000062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.