Wolverine World Wide reports Q2 adjusted EPS 19c, consensus 19c

Reports Q2 revenue $589.1M, consensus $579.97M. CEO Chris Hufnagel said, “I’m confident that we have the right team and brand playbook to quickly improve the performance of the company. Our second half outlook, as reflected in our updated annual guidance, is disappointing but we are confident that the work we are undertaking will drive significant profit improvement in 2024 and quickly set a strong growth foundation for the company. The current adversity has not only deepened our conviction that our strategic direction is more correct than ever, but that we must execute it with greater boldness and speed.”