Wolverine World Wide Inc.NYSE
Wed, Dec. 7, 4:46 PM
Tue, Nov. 29, 10:17 AM
- A dismal earnings report from Shoe Carnival (SCVL -11.1%) appears to be impacting sentiment on other shoe sellers. Execs with Shoe Carnival warned late yesterday that they would step up promotions on seasonal items.
- Crox (CROX -1.8%), Deckers Outdoor (DECK -1.2%), Wolverine Worldwide (WWW -1.3%) and Skechers (SKX -1.8%) are all lower on the day.
- Previously: Shoe Carnival EPS in-line, misses on revenue (Nov. 28)
- Previously: Weak guidance sends Shoe Carnival lower (Nov. 28)
Mon, Nov. 14, 10:15 AM
- Clothing and footwear stocks are jetting higher as more analysts bump up expectations on consumer spending in Q4 and broadly forecast tax relief for the consumer goods sector (effective tax rates paid).
- Many of the names with the sharpest moves higher today are recovering from a pre-election slump.
- Gainers include Sequential Brands Group (SQBG +11.7%), Iconix Brand Group (ICON +5.1%), Carter's (CRI +4.6%), Vera Bradley (VRA +4.6%), Wolverine World Wide (WWW +4%), Crocs (CROX +4.3%), Caleres (CAL +4.6%), Ralph Lauren (RL +3.4%), Fossil (FOSL +5%), Perry Ellis (PERY +3%), Deckers Outdoor (DECK +3.5%), Skechers (SKX +3.2%) and Coach (COH +3.1%).
- Kate Spade (KATE +5.9%) is also rallying, but has news of an activist investor on the prowl also factoring in.
- Previously: Kate Spade hears from activist firm (Nov. 14)
- Previously: Investors see upside with apparel store stocks (Nov. 14)
Wed, Nov. 2, 8:19 AM
- Wedbush starts off coverage on Wolverine Worldwide (NYSE:WWW) with an Outperform rating.
- "We believe most of the bad news is known and largely priced in at current levels," writes analysts Christopher Svezia.
- "While we recognize management has not delivered in the past, our sense is that there is a real urgency to improve performance. On flattish sales through 2018, we see real operating margin opportunity toward achieving ~$2.00 in EPS vs. $1.35 today," he adds.
- Wedbush's price target of $25 on WWW implies 18% upside potential and is a shade below the stock's 52-week high of $25.54.
- Wolverine reported mixed Q3 earnings (headlines numbers, highlights) two weeks ago.
Tue, Oct. 18, 6:45 AM
- Wolverine World Wide (NYSE:WWW) reports underlying revenue declined 8.6% in Q3.
- Gross margin rate squeezed 70 bps to 39.3%.
- SG&A expense rate improved 40 bps to 27.7%.
- Operating margin rate rose 20 bps to 11.4%.
- Inventory -7.6% Y/Y to $457.6M.
- FY2016 Guidance: Revenue: $2.475B to $2.575B (-8% to -4.3%); Underlying revenue: ~-5.6% to -1.8%; Diluted EPS: $1.02 to $1.12; Adjusted EPS: $1.30 to $1.40.
Tue, Oct. 18, 6:31 AM
Mon, Oct. 17, 5:30 PM
Fri, Oct. 7, 11:14 AM
- If things aren't quite as grim for apparel stores than some feared, it makes sense that clothing manufacturers could benefit.
- Following a better-than-anticipated sales report from Gap, and a big Goldman Sachs endorsement of Ralph Lauren (RL +2.7%), notable movers in the apparel sector on a down market day include Deckers Outdoor (DECK +1.7%), Columbia Sportswear (COLM +2.7%), PVH Corp (PVH +2.1%), Wolverine Worldwide (WWW +1%), Xcel Brands (OTCPK:XCEL), Oxford Industries (OXM +0.8%), and G-III Apparel (GIII +1.5%).
- Today's decent jobs report could also be a factor in the sector move.
- Previously: Rally time for Gap and apparel store peers (Oct. 7)
Fri, Aug. 19, 11:14 AM
- Foot Locker (FL +10%) rips higher after posting strong sales growth. The company cited strength in basketball, running, and classic footwear during the quarter.
- Under Armour (NYSE:UA) is up 1.6% and Nike (NYSE:NKE) is 2.7% higher off the strong read on athletic shoe sales.
- Other notable gainers include Skechers (SKX +1%), Wolverine World Wide (WWW +3.4%), Rocky Brands (RCKY +1.5%), Steven Madden (SHOO +1.4%), Caleres (CAL +1%), and Crocs (CROX +1%) -- all ahead of broad market averages.
- An underlying theme continuing to emerge in the shoe sector is that discretionary spending by millennials on the category is stronger than what is being seen in other areas of retail. Also of note, the millennial group has shown loyalty to power brands.
- Previously: Foot Locker beats by $0.04, beats on revenue (Aug. 19)
- Previously: Foot Locker higher on earnings beat and positive comp (Aug. 19)
Fri, Aug. 12, 8:06 AM
Tue, Jul. 26, 7:14 AM
- Wolverine World Wide (NYSE:WWW) reports underlying revenue fell 5.2% in Q2.
- Gross margin rate slipped 30 bps to 38.8%.
- SG&A expense rate rose 40 bps to 31.4%.
- Adjusted operating margin rate grew 30 bps to 8.4%.
- FY2016 Guidance: Revenue: $2.475B to $2.575B (-8% to -4.3%); Diluted EPS: $1.16 to $1.26; Adjusted EPS: $1.30 to $1.40.
Tue, Jul. 26, 6:36 AM
Mon, Jul. 25, 5:30 PM
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Mon, Jul. 25, 5:43 AM
Fri, Jul. 22, 10:13 AM
- A weak earnings report from Skechers (SKX -22%) and a warning from VF Corp (VFC -2.8%) is taking down a number of peers of the apparel sellers.
- Soft demand in Asia, disruption in Europe, and continued F/X headwinds were cited by both companies.
- Oxford Industries (OXM -2.1%), Wolverine World Wide (WWW -2.6%), Crocs (CROX -2.9%), Steven Madden (SHOO -1.8%), and G-III Apparel Group (GIII -2.3%) are all lower.
- The negative start to the earnings season for the apparel/footwear sector appears to be impacting Nike (NKE -0.8%) and Under Armour (UA -0.9%) as well.
- Previously: Skechers -8% after missing Q2 expectations (July 21)
- Previously: V.F. beats by $0.01, misses on revenue (July 22)
Thu, Jul. 7, 3:01 PM
- Wolverine Worldwide (WWW +5.1%) is higher after catching the eyes of the analyst team at Susquehanna.
- The apparel stock was lifted to a Positive rating from Neutral and given a price target boost to $25.
- "While this may be early, product trends appear to be improving as evidenced by some enthusiasm we see around Sperry's Spring non-boat shoe business, among others," reads the Susquehanna note.