Wolverine World Wide stock rallies after earnings beat and as it explores alternatives for its Sperry brand

Shares of Wolverine World Wide Inc. WWW rallied 3.3% in premarket trading Wednesday, after the casual, active and uniform footwear and apparel, with brands including Saucony, Hush Puppies, Sperry and Stride Rite, reported first-quarter earnings that beat expectations and said it was “exploring strategic alternatives” for its Sperry brand. Net income rose to $19.0 million, or 23 cents a share, from $9.7 million, or 12 cents a share, in the year-ago period.

0 million, or 23 cents a share, from $9.7 million, or 12 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 9 cents beat the FactSet consensus of 4 cents. Revenue fell 25.0% to $599.4 million but was above the FactSet consensus of $577.5 million. “We need to focus our efforts and investments on our Active and Work Groups, specifically our growth brands – Merrell, Saucony and Sweaty Betty.

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

WGA strike causes industry-wide economic fallout as shows such as 'Stranger Things' halt production'Stranger Things' and other Hollywood shows halt production as WGA strike enters second week, leaving actors and contractors out of work with no end in sight.
Fonte: ABC7 - 🏆 67. / 68 Consulte Mais informação »