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Wolverine World Wide Q1 Adj. EPS Tops View, But Revenues Miss - Quick Facts

Wolverine World Wide, Inc. (WWW) on Wednesday reported net earnings attributable to the company for the first quarter of $13.0 million or $0.16 per share, down from $40.5 million or $0.40 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $0.28 per share, compared to $0.49 per share in the year-ago quarter.

Revenue for the quarter declined 16.1 percent to $439.3 million from $523.4 million in the same quarter last year. Adjusting for currency, revenue decreased 15.6 percent. Owned eCommerce growth for the quarter was 17.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.17 per share for the quarter on revenues of $455.2 million. Analysts' estimates typically exclude special items.

Looking ahead, Wolverine World Wide withdrew its guidance for the full-year 2020 due to the uncertainty about the impact related to the ongoing coronavirus (COVID-19) pandemic.

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