secwatch.observer — SEC 8-K summary
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Issuer:     WOLVERINE WORLD WIDE INC /DE/ (WWW)
CIK:        0000110471
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0000110471-24-000053
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolverine Worldwide Q4 revenue down 20.8% to $526.7M; guides 2024 adjusted EPS $0.65-$0.85
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- Q4 reported diluted EPS loss $1.15; adjusted diluted EPS loss $0.30.
- Full-year 2023 revenue $2.24B, down 16.5%; adjusted EPS $0.05 vs $1.37 prior year.
- 2024 outlook: ongoing revenue $1.70-$1.75B, gross margin ~44.5% (up 460 bps), adjusted EPS $0.65-$0.85.
- Net debt reduced to $740M (2.9x leverage); inventory down ~50% YoY to $373.6M.
- Sperry sold in Jan 2024; expects $140M incremental cost savings in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/110471/000011047124000053/0000110471-24-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/110471/000011047124000053/www-20240221.htm
  HTML page:      https://secwatch.observer/filing/0000110471-24-000053

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