Wolverine Worldwide expects to generate $150 million of positive operating cash flow in 2020, bolstered by about $500 million net cash from delaying most capital projects, suspending share repurchases and significantly cutting operating expenses. In addition, WWW drew down the rest of its $800 million revolver, and now has about $450 million of cash on hand. Operationally, e-commerce growth is up mid-teens in Q1 to date, with its supply chain, logistics and distribution centers servicing owned and third-party online channels that account for about 40% of total U.S. sales.

Accell Group is anticipating a “very negative impact” from the Covid-19 outbreak ... Log in to view full article.