secwatch.observer — SEC 8-K summary
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Issuer:     WOLVERINE WORLD WIDE INC /DE/ (WWW)
CIK:        0000110471
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0000110471-23-000144
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolverine WW Q3 rev down 24%; guides FY adjusted EPS $0.05-0.10; cuts workforce
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- Q3 revenue $527.7M (-23.7% YoY); ongoing rev $519.5M (-20.0% YoY).
- Reported EPS $0.11; adjusted EPS $0.07 vs $0.47 prior year. Gross margin 40.8% up 60bps.
- Inventory down ~33% to $563.8M; net debt $930M; leverage 3.4x.
- Lowered FY23 guidance: ongoing rev ~$2.19-2.20B, adjusted EPS $0.05-0.10 (incl $0.18 FX headwind).
- Global workforce restructuring; Profit Improvement Office targeting $215M annualized savings in 2024; Sperry strategic review ongoing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000144/0000110471-23-000144-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/110471/000011047123000144/www-20231109.htm
  HTML page:      https://secwatch.observer/filing/0000110471-23-000144

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