Wolverine Worldwide Net Falls, But Gains Promised in H2
In what it described as a “strong second quarter,” net income declined 27% to $40.2 million against $55.3 million as sales surged 0.3% to $568.6 million and $566.9 million for the period ended Jun. 29. But WWW said its order book, improving product creation engine and growing e-commerce sales would enable it to reach guidance for the FY of a $2.28 billion top line with flat gross margin of 41.0% and reported operating margin of 11% with EPS of $2.06 ($181.3 mm) against last years revenue of $2,239.2 million and net of $200.1 million. The H2 growth will be powered ... Log in to view full article.