logo munafa.org

NEWS Gainers Losers
 Learn then Earn

 story : Wolverine World Wide profit matches forecasts while revenue comes up short, but full-year outlook lifted #FinanceUSA #StockMarketNEWS Wolverine World Wide Inc. reported a first-quarter profit that

@stockMarketNEWS Wed 12 May, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Wolverine World Wide profit matches forecasts while revenue comes up short, but full-year outlook lifted #FinanceUSA #StockMarketNEWS
Wolverine World Wide Inc. reported a first-quarter profit that matched expectations but revenue that came up a bit shy, while lifting its full-year outlook amid stronger-than-anticipated ecommerce growth. The stock was still inactive in premarket trading. The footwear and apparel company, which brands include Hush Puppies, Stride Rite and Saucony, said net income tripled to .5 million, or 45 cents a share, from .0 million, or 16 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 40 cents, matching the FactSet consensus of 40 cents. Revenue rose 16.3% to 0.7 million, below the FactSet consensus of 1.8 million, with owned ecommerce revenue growing 83.6%. Cost of goods sold increased 12.0%, with gross margin improving to 43.5% from 41.4%. For 2021, the company nudged up its revenue guidance range to .24 billion to .30 billion from .19 billion to .25 billion. "Our ongoing investment in digital fueled eCommerce growth of 84%, well ahead of our expectations. Our brands are well positioned in trending, performance-oriented product categories like running, hiking, and work; and their momentum remains strong," said Chief Executive Blake Krueger. "We anticipate growth to continue to accelerate moving forward." The stock has rallied 36.8% year to date, while the S&P 500 has advanced 10.5%.


Munafa USA Munafa India Munafa NSE


Report

Munafa ebook, learn stock market trading

0 Comments

Sorted by latest first Latest Oldest Best

 Learn then Earn
Back to top | Use Dark Theme