Wolverine Worldwide (NYSE:WWW) updates on its strategic initiatives and financial targets.
The company is banking on its Wolverine Way Forward strategic platform to drive growth and profitability.
A top goal is to expand adjusted operating margin to a mid-term target of 12% through a healthier supply chain, omnichannel transformation, portfolio management, and operational efficiencies.
Another area of focus by Wolverine will be to strengthen its capital structure and improve working capital management to help reduce inventory and improve cash flow.
Wolverine also plans to open a new, 14K-square-foot consumer and innovation hub next month to help with efficiency.
"Our continued rationalization of stores and strategic portfolio review are important steps down this path. Looking ahead, we believe the strong focus of our team will allow us to deliver at least 150 basis points of adjusted operating margin expansion in 2017," says CFO Mike Stornant.
Source: Press Release
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