---
schema_version: "secwatch.filing_event.v1"
accession: "0000110471-23-000108"
form_type: "8-K"
ticker: "WWW"
cik: "0000110471"
company_name: "WOLVERINE WORLD WIDE INC /DE/"
filed_at: "2023-08-10T23:59:59+00:00"
generated_at: "2026-06-11T16:27:56.413698+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Wolverine Worldwide reports Q2 revenue down 17.4%, lowers FY outlook; CEO replaced by Hufnagel

## Summary
- Q2 revenue $589.1M (-17.4% YoY); diluted EPS $0.30 vs $1.53; adjusted EPS $0.19 vs $0.65
- FY 2023 guidance lowered: ongoing revenue $2.26B-$2.28B, adjusted EPS $0.45-$0.55
- CEO Brendan Hoffman terminated without cause effective Aug 6; replaced by Christopher Hufnagel
- Gross margin fell to 38.7% from 43.0%; inventory $647.9M, down $97.3M sequentially
- Net debt $930M, leverage 3.5x; plans to sell at least $50M non-core assets

## SEC filing metadata
- accession: 0000110471-23-000108
- form_type: 8-K
- ticker: WWW
- cik: 0000110471
- company_name: WOLVERINE WORLD WIDE INC /DE/
- filed_at: 2023-08-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/www-20230806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000110471-23-000108
- JSON: https://secwatch.observer/filing/0000110471-23-000108.json
- Plain text: https://secwatch.observer/filing/0000110471-23-000108.txt

## Key facts
- Earnings Releases
  WOLVERINE WORLD WIDE INC /DE/ reported the second quarter ended July 1, 2023 results: revenue $589.1 million, EPS $0.30.
  - Period: the second quarter ended July 1, 2023
  - Revenue: $589.1 million
  - EPS: $0.30
  - Result: reported results
  source text: bps Adjusted Operating Margin 5.8% 11.4% (560) bps Adjusted Diluted Earnings Per Share $0.19 $0.65 (70.8)% Constant Currency Earnings Per Share $0.21 $0.65 (67.7)% Revenue of $589.1 million declined 17.4% versus the prior year and declined 17.3% on a constant currency basis. Revenue from the ongoing business was $578.2 million and declined 13.8% on a constant
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- Earnings Releases
  WOLVERINE WORLD WIDE INC /DE/ reported full-year 2023 results: revenue $2.26 billion to $2.28 billion, EPS $0.43 to $0.53. Guidance lowered.
  - Period: full-year 2023
  - Revenue: $2.26 billion to $2.28 billion
  - EPS: $0.43 to $0.53
  - Guidance: lowered
  - Result: guidance update
  source text: Revenue from our ongoing business is expected to be in the range of $2.26 billion to $2.28 billion, representing a decline of approximately 10.7% to 10.0% versus the prior year
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- Executive change
  Brendan Hoffman was terminated as Chief Executive Officer at WOLVERINE WORLD WIDE INC /DE/.
  - Action: terminated
  - Role: Chief Executive Officer
  source text: Effective as of August 6, 2023, the Board of Directors (the “Board”) of the Company terminated the employment of Brendan Hoffman as the Company’s Chief Executive Officer without Cause
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- Executive change
  Christopher E. Hufnagel was appointed as Director at WOLVERINE WORLD WIDE INC /DE/.
  - Action: appointed
  - Role: Director
  source text: to serve as a director of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- Executive change
  Christopher E. Hufnagel was appointed as President and Chief Executive Officer at WOLVERINE WORLD WIDE INC /DE/.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: Effective as of August 6, 2023, the Board appointed Christopher E. Hufnagel as President and Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm
- Executive change
  Brendan Hoffman resigned as Director at WOLVERINE WORLD WIDE INC /DE/.
  - Action: resigned
  - Role: Director
  source text: effective as of August 6, 2023, Mr. Hoffman resigned as a director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047123000108/0000110471-23-000108-index.htm

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