Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

Available September 16, Saucony's first-ever footwear collab with Black Girls RUN! is part of multi-year partnership ROCKFORD, Mich., Sept. 5, 2024 /PRNewswire/ -- Saucony, a leading global performance running lifestyle brand, today announced the limited-edition Black Girls RUN! x Saucony Endorphin Speed 4, marking the brand's inaugural footwear collaboration with Black Girls RUN! (BGR!). The Endorphin Speed 4, in the BGR! vibrant colorway, reinforces Saucony's multi-year partnership with BGR! to support th ...

Updates to its most trusted work boot franchise advances Wolverine's commitment to performance comfort. ROCKFORD, Mich., Aug. 28, 2024 /PRNewswire/ -- Wolverine®, the 141-year-old boot and clothing company, is thrilled to introduce the newest addition to the longstanding DuraShocks® franchise with its DuraShocks SR Icon 6" Work Boot. This new offering underscores Wolverine's commitment to supporting the American worker, featuring intentional designs that enhance stability, comfort and safety. Every stitch, ...

Wolverine World Wide (WWW) closed the last trading session at $12.88, gaining 1.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $17.33 indicates a 34.6% upside potential. The average comprises six short-term price targets ranging from a low of $14 to a high of $20, with a standard deviation of $2.94. While the lowest estimate indicates an increase of 8.7% from the current price ...

GAPS Wolverine World Wide, Inc. (NYSE:WWW) reported the company's Q2 results on the 7th of August in pre-market hours, beating Wall Street revenue and EPS estimates by a considerable margin. Yet, the stock fell by -7% to the results, seemingly as the brands' sales declines still don't have a near-term end in sight. In my previous article on the stock, "Wolverine World Wide: Sales Improvements Need To Start Showing Soon," I remained at a Hold rating for Wolverine as the turnaround potential was nearly fairly ...

Wolverine World Wide, Inc. (WWW) reported mixed second-quarter 2024 results, wherein the top and bottom lines surpassed the Zacks Consensus Estimate. However, both metrics fell year over year. Wolverine posted better-than-expected revenues and earnings for the second quarter, reflecting significant progress in its ambitious turnaround plan initiated a year ago. The company has focused on becoming more consumer-centric and adopting a global brand-building model. This strategy has been executed with speed and ...

Wolverine World Wide, Inc. (NYSE:WWW) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Alex Wiseman - Vice President-Finance Chris Hufnagel - President and Chief Executive Officer Taryn Miller - Executive Vice President and Chief Financial Officer Conference Call Participants Jim Duffy - Stifel Mauricio Serna - UBS Dana Telsey - Telsey Group Sam Poser - Williams Trading Laurent Vasilescu - BNP Paribas Mitch Kummetz - Seaport Research Ashley Owens - KeyBanc Capital Markets Jona ...

Wolverine World Wide (WWW) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this footwear maker would post earnings of $0.05 per share when it actually produced earnings of $0.05, delivering no surprise. Over the last four quarters, the company ...

Revenue Performance - Second quarter 2024 total revenue was $425.2 million, a decrease of 27.8% compared to $589.1 million in the same quarter of 2023[3] - Active Group revenue declined by 20.2% year-over-year to $305.9 million, while Work Group revenue decreased by 10.9% to $105.0 million[3] - The company expects full-year 2024 revenue from ongoing business to be approximately $1.71 to $1.73 billion, reflecting a decline of 14.2% to 13.2% compared to 2023[6] - Revenue for Q2 2024 was $425.2 million, a decrease of 27.8% compared to $589.1 million in Q2 2023[21] - Total revenue for Fiscal 2023 was $2,242.9 million, with adjustments for divestitures leading to an adjusted revenue of $1,992.1 million[34] - Fiscal 2024 revenue guidance is projected between $1,714 million and $1,734 million, with adjusted revenue expected to be between $1,710 million and $1,730 million[36] - Adjusted ongoing business revenue for Fiscal 2023, excluding divestitures, was $1,992.1 million[42] Profitability Metrics - Gross margin improved to 43.1%, up 440 basis points from 38.7% in the prior year, attributed to lower supply chain costs and reduced promotional eCommerce sales[3] - Projected gross margin for 2024 is approximately 44.5%, an increase of 460 basis points compared to 2023[6] - Gross profit for Q2 2024 was $183.2 million, with a gross margin of 43.1%, compared to $227.8 million and 38.7% in Q2 2023[24] - Operating profit for Q2 2024 was $29.1 million, resulting in an operating margin of 6.8%, compared to $46.1 million and 7.8% in Q2 2023[19] - Operating expenses for Fiscal 2024 Q2 were reported at $154.1 million, a decrease from $181.7 million in Q2 2023, reflecting a 15.3% reduction[25] - The company reported an operating profit loss of $68.2 million for Fiscal 2023, with adjustments resulting in an operating profit of $77.8 million[34] - Operating margin for Fiscal 2024 is projected at 6.0% on a GAAP basis, increasing to 7.4% when adjusted[36] Earnings Per Share - Diluted earnings per share are expected to range from $0.53 to $0.63, compared to the previous outlook of $0.43 to $0.63[6] - Diluted EPS for Fiscal 2024 is guided between $0.53 and $0.63 on a GAAP basis, with adjusted EPS expected to be between $0.75 and $0.85[36] - Diluted EPS for Fiscal 2024 Q2 was $0.17, a decline from $0.30 in Q2 2023, with adjusted EPS on a constant currency basis at $0.16[28] Debt and Cash Management - Net debt at the end of the quarter was $666 million, down $271 million from the previous year[4] - The company plans to reduce net debt to approximately $565 million by year-end, a reduction of $175 million from the prior year[6] - Cash and cash equivalents at the end of Q2 2024 were $148.3 million, a decrease from $176.5 million at the end of Q2 2023[17] Inventory Management - Inventory at the end of the quarter was $297.1 million, down approximately 54.1% from the prior year[4] - Inventory for Q2 2024 was reported at $297.1 million, down from $647.9 million in Q2 2023, indicating a significant reduction in inventory levels[30] Tax and Liabilities - The company reported an effective tax rate of 13.1% for Q2 2024, compared to 19.8% in Q2 2023[19] - Total current liabilities decreased to $665.6 million as of June 29, 2024, from $964.2 million as of July 1, 2023[17] Future Outlook and Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth[22] - The company plans to close the Sperry business and stores that were not divested in 2024, impacting financial results[38] - The company is transitioning Merrell and Saucony Kids to a licensing model in 2024 as part of its business model changes[42] Environmental and Other Costs - Environmental and related costs for Q2 2024 amounted to $15.7 million, impacting overall profitability[27] - The impact of divestitures on revenue for Q2 2024 included $0.4 million from the Sperry business, totaling $4.5 million year-to-date[32] - The company experienced a net earnings per share impact of $(0.11) due to divestitures in 2023[32] - Adjustments for Q2 2024 included $3.5 million related to divestitures, affecting the overall operating margin[27] Asset Management - Total assets decreased to $1,796.3 million as of June 29, 2024, down from $2,357.3 million as of July 1, 2023[17] - The company experienced a net cash used in operating activities of $(10.5) million for the year-to-date period ending June 29, 2024[19]

America's original work boot brand and Metallica's workforce education initiative come together to launch a limited-edition Rancher Boot that benefits the skilled trades. ROCKFORD, Mich., Aug. 1, 2024 /PRNewswire/ -- Wolverine®, the 141-year-old boot and clothing company, and Metallica Scholars, the workforce education initiative within Metallica's foundation, All Within My Hands (AWMH) have once again united to champion the next generation of skilled workers. Banding together since 2019, Wolverine and Meta ...