secwatch.observer — SEC 8-K summary
======================================

Issuer:     WOLVERINE WORLD WIDE INC /DE/ (WWW)
CIK:        0000110471
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0000110471-23-000062
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000062/0000110471-23-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000062/www-20230510.htm
  HTML page:      https://secwatch.observer/filing/0000110471-23-000062

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