logo
  

Wolverine World Wide Begins Process To Divest Or License Keds And Wolverine Leathers

Wolverine World Wide, Inc. (WWW) said it has started a formal process to divest or license the Keds brand and Wolverine Leathers business. Also, the company initiated a workforce reduction earlier this week. The company expects this initiative to result in approximately $30 million in savings in 2023.

Including the impact from the workforce reduction, the company expects to realize total savings of approximately $45 million in 2023 from organizational synergies and other indirect cost areas.

Wolverine World Wide also stated that, through two months of the fourth quarter, revenue is in line with expectations.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
Follow RTT