secwatch.observer — SEC 8-K summary
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Issuer:     WOLVERINE WORLD WIDE INC /DE/ (WWW)
CIK:        0000110471
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0000110471-24-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolverine affirms preliminary FY2023 revenue ~$2.24B; net debt better than guidance
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- Preliminary FY2023 revenue ~$2.24B; ongoing business revenue ~$2.20B; both in line with prior guidance.
- Inventory ~$460M (vs guidance $490M); net debt ~$750M (vs $850M), both better than anticipated.
- Asset monetization generated ~$250M cash in FY2023; sale of KY distribution center for $23M in Q4.
- Strategic alternatives for Sperry brand remain on track.
- Full year adjusted gross margin above 39%; Q4 above 36%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/110471/000011047124000002/0000110471-24-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/110471/000011047124000002/www-20240108.htm
  HTML page:      https://secwatch.observer/filing/0000110471-24-000002

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