Wolverine Worldwide Lowered Its Annual Forecast, Closing 140 Stores

　　 Have Wolverine Worldwide (NYSE: WWW), a famous footwear brand of Cat and other famous footwear brands, released its two quarter earnings before the 15 day of the two day, ending 0.27 quarter of the two quarter of June 14, 2014, a 50% gain over the same period last year. The adjusted earnings per share were 0.31 dollars, up 34.8% from the same period last year, exceeding the expected US $0.27 price of Capital IQ Consensus, but Wolverine Worldwide said that the company's share price fell Tuesday on the basis of the restructuring, and it closed to the US dollar.

As of the two quarter of June 14, 2014, Wolverine Worldwide revenue rose 4.4%, from 587 million 800 thousand US dollars in the same period last year to US $613 million 500 thousand, higher than the $608 million 800 thousand expected by the S & P; the gross profit was 245 million 700 thousand US dollars, up 1.9% from the 241 million 100 thousand US dollars in the same period last year, and the gross profit margin dropped by 90 basis points to 40.1%. The gross margin was hindered mainly because North America had more discount to counteract the drop in passenger traffic; the increase in operating profit was 32.4%, from the US dollar in the same period last year to the US dollar, and the operating profit rate rose to a base point of 0. The company had net cash flow of US $113 million 600 thousand in the two quarter.

Wolverine Worldwide chairman and chief executive officer Blake W. Krueger said that after restructuring, the group achieved revenue growth in almost all regions, including Saucony, Keds, Caterpillar Footwear, Chaco and Wolverine and other brand growth was particularly strong, and achieved double-digit growth in regional, Latin America and the Asia Pacific region.

Because Recombination Wolverine Worldwide lowered its full year earnings to $1.32 to $1.38 per share, which was expected to be between $1.48 and $1.54. It is expected that earnings per share will be adjusted from $1.57 to $1.63 per year, with an expected annual income of $2 billion 775 million, 3% more than the 2 billion 690 million US dollars in the same period last year.

At the same time, Wolverine Worldwide also announced the strategic adjustment plan. In the current fiscal year and fiscal year 2015, it planned to close 140 stores. The main brands involved were Stride Rite. The 60 will be closed by the end of the fiscal year, and the rest will be closed before the end of fiscal 2015. The company expects that the scheme will cost $30 million to $37 million and result in a loss of $11 million in pre tax earnings. Blake W. Krueger indicates that the plan is direct control for further development in order to adapt to the change of consumers. department Strategy.