Last $28.15 USD
Change Today -1.00 / -3.43%
Volume 939.1K
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wolverine world wide inc (WWW) Key Developments

Wolverine World Wide Plans Acquisitions

Wolverine World Wide Inc. (NYSE:WWW) intends to make acquisitions. Blake Krueger, Chairman, President and Chief Executive Officer of the company said: “Strategically, we are focused on international. It's always been a core competency of the Company and a tremendous upside for brands that we add to our portfolio. We also believe in lifestyle brands. So many of our larger brands, the Wolverine brand, Hush Puppy, Merrell, several of our other brands have apparel and accessory programs, either owned by us, or on a licensed basis. So we believe there is a competitive advantage to lifestyle brands as to single category brand. And then lastly, strategically, we are focused on acquiring new brands. We think this is the core competency of the Company and something we do pretty well. I will talk quickly in a little more detail about a couple of the other brands, some of the key brands in our portfolio.” He added: “We're going to maintain a stable dividend, and then obviously we are generating cash for future acquisitions.”

Wolverine Worldwide Provides Preliminary Unaudited Financial Results for the Fourth Quarter and Full Year Ended January 3, 2015 and Initial Outlook for Fiscal 2015

Wolverine Worldwide provided preliminary unaudited financial results for its fourth fiscal quarter and full-year 2014 ended January 3, 2015. In addition, the company provided its initial outlook for fiscal 2015. Revenue for the fourth quarter of approximately $808 million, representing growth of 9.1% compared to prior-year revenue of $741 million. Revenue for the full-year 2014 of approximately $2.76 billion, representing growth of 2.6% compared to prior-year revenue of $2.69 billion. Adjusted diluted earnings per share for the full-year 2014 at the high end of the previous earnings guidance of $1.57 to $1.63 per share. On a reported basis, diluted earnings per share to be consistent with the previous guidance of $1.32 to $1.38. Anticipated record operating cash flow for the year, enabling the company to reduce interest-bearing debt by approximately $250 million during fiscal 2014, including $175 million of accelerated, voluntary principal payments during the fourth fiscal quarter, a portion of which were attributed to the company's new accounts receivable financing facility. The company currently expects its full-year 2015 adjusted diluted earnings per share to be approximately flat compared to 2014.

Wolverine Worldwide Declares Quarterly Cash Dividend on Common Stock, Payable on February 2, 2015

The directors of Wolverine Worldwide declared a quarterly cash dividend of $0.06 per share of common stock. The dividend is payable on February 2, 2015, to stockholders of record on January 2, 2015. The dividend is equal to the last quarterly dividend and reflects an indicated annual dividend of $0.24 per share.

Wolverine World Wide Inc. Presents at 17th Annual ICR XChange 2015, Jan-13-2015 10:30 AM

Wolverine World Wide Inc. Presents at 17th Annual ICR XChange 2015, Jan-13-2015 10:30 AM. Venue: JW Marriott Orlando Grande Lakes, Orlando, Florida, United States. Speakers: Blake W. Krueger, Chairman, Chief Executive Officer and President.

Wolverine World Wide Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 6, 2014; Reaffirms Earnings Guidance for the Full Year of 2014

Wolverine World Wide Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 6, 2014. For the quarter, the company reported revenue of $711.1 million against $716.6 million a year ago. Operating profit was $87.6 million against $86.3 million a year ago. Earnings before income taxes were $77.9 million against $73.4 million a year ago. Net earnings attributable to the company were $57.8 million or $0.57 per diluted share against $54.4 million or $0.54 per diluted share a year ago. Net debt was $865.1 million as at September 6, 2014. Net cash provided by operating activities was $49.1 million against $114.7 million a year ago. Adjusted diluted earnings per share increased 8.6% to $0.63, compared to an adjusted $0.58 per share in the prior year. For the nine months, the company reported revenue of $1,952.2 million against $1,950.3 million a year ago. Operating profit was $200.3 million against $174.3 million a year ago. Earnings before income taxes were $168.4 million against $135.0 million a year ago. Net earnings attributable to the company were $122.4 million or $1.20 per diluted share against $102.1 million or $1.02 per diluted share a year ago. Net cash provided by operating activities was $114.7 million against $125.4 million a year ago. Additions to property, plant and equipment was $21.4 million against $29.2 million a year ago. The company announced based on third-quarter results and expectations for the balance of the year, the company is adjusting its outlook for full-year consolidated revenue to approximately $2.745 billion, representing growth of approximately 2% compared to the prior year's revenue of $2.69 billion. The company is reaffirming its adjusted diluted earnings per share estimate in the range of $1.57 to $1.63 growth of 10% to 14% compared to the prior year's adjusted diluted earnings per share of $1.43. On a reported basis, diluted earnings per share are expected in the range of $1.32 to $1.38. The company now expects full year gross margin to be essentially flat with the prior year, due to lower revenue from the higher gross margin consumer direct channel. Capital expenditures are now expected in the range of $35 million to $40 million.

 

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Price/Sales 1.0x
Price/Book 3.0x
Price/Cash Flow 23.7x
TEV/Sales 0.6x
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