Why Wolverine World Wide Stock Is Tumbling Today
Portfolio Pulse from Nabaparna Bhattacharya
Wolverine World Wide, Inc. (NYSE:WWW) reported Q2 revenues of $589.10 million, beating the analyst consensus but declining 17.4% YoY. The company's international business and lower margins impacted revenue growth. The company also appointed a new CEO, Christopher E. Hufnagel, and slashed its FY23 revenue and EPS outlook. WWW shares are trading lower by 20.68% premarket.
August 10, 2023 | 12:19 pm
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Wolverine World Wide reported lower than expected Q2 revenues and slashed its FY23 outlook. The company's shares are trading lower premarket.
Wolverine World Wide's Q2 revenues were lower than expected and the company slashed its FY23 outlook, which is likely to negatively impact investor sentiment and the company's stock price in the short term.
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