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Article Date: November 2019
Word Count: 476

Wolverine Worldwide Net Down on 3% Sales Gain


With a higher tax rate and an added $7.0 million in pre-tax environmental cleanup costs, net income was $48.6 million, down 17% from $58.8 million, for the third quarter ended Sep. 28 as sales increased 3% to $574.3 million from $558.6 million. Its three biggest brands—Merrell, Saucony and Sperry—led the quarter with 11% constant currency growth. The adjusted results of $0.68 per share against $0.62 last year exceeded forecasts by $0.05, but WWW kept its annual guidance intact for revenue of $2.28 billion with 7.0% constant currency growth in Q4 and reported EPS of $1.96, including about $2.5 million related ... Log in to view full article.

 


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