Wolverine (WWW) reported earnings on Wed 9 Nov 22 (b/o)

 ** charts after earnings **

 

 

 

Wolverine misses by $0.07, misses on revs; guides Q4 EPS below consensus, revs below consensus

• Reports Q3 (Sep) earnings of $0.48 per share, $0.07 worse than the S&P Capital IQ Consensus of $0.55; revenues rose 8.6% year/year to $691.4 mln vs the $709.74 mln S&P Capital IQ Consensus.
• Co issues downside guidance for Q4, sees EPS of ($0.015)-($0.05) vs. $0.47 S&P Capital IQ Consensus; sees Q4 revs of $650-$675 mln vs. $695.40 mln S&P Capital IQ Consensus. djusted Gross margin is expected to be approximately 38.0% compared to 42.4% in the prior year. This decrease reflects the Company's efforts to reduce seasonal inventory and includes an expectation that the fourth quarter holiday period will be highly promotional, as well as an expectation for increased logistics and handling costs and unfavorable foreign exchange rates.