The gross margin and adjusted gross margin are projected to be approximately 41.3 per cent and 42.0 per cent, respectively. The company’s operating margin is expected to be around 8.7 per cent, while the adjusted operating margin is forecasted to be slightly lower at approximately 8.5 per cent, Wolverine Worldwide said in a press release.
Diluted earnings per share (EPS) are anticipated to fall within the range of $1.50 to $1.70, with adjusted diluted EPS ranging from $1.40 to $1.60. Furthermore, Wolverine Worldwide aims to improve its inventory by around $225 million by the end of the year.
Wolverine Worldwide’s expects revenue growth of 0-2 per cent to $2.53-$2.58 billion in FY23.
Gross margin is projected at 41.3 per cent, adjusted at 42 per cent.
Operating margin is anticipated at 8.7 per cent, adjusted at 8.5 per cent.
Diluted EPS is estimated between $1.50-$1.70, adjusted at $1.40-$1.60, with inventory improving by $225 million.
“We need to focus our efforts and investments on our active and work groups, specifically our growth brands. The recent sale of Keds and pending licensing of Hush Puppies will enable this focus, and these transitions are well underway. We are now exploring strategic alternatives for Sperry, while we continue the foundational work needed to position the brand for long-term success,” said Brendan Hoffman, president and chief executive office.
Fibre2Fashion News Desk (DP)
