Footwear conglomerate Wolverine Worldwide (NYSE: WWW) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
Wolverine Worldwide beat analysts’ revenue expectations last quarter, reporting revenues of $457.6 million, up 11% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but full-year revenue guidance meeting analysts’ expectations.
Is Wolverine Worldwide a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wolverine Worldwide’s revenue to grow 5.9% year on year, slowing from the 11.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Wolverine Worldwide has a history of exceeding Wall Street’s expectations.
Looking at Wolverine Worldwide’s peers in the consumer discretionary - footwear segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Steven Madden delivered year-on-year revenue growth of 19.1%, beating analysts’ expectations by 4.8%, and Nike reported a revenue decline of 1.1%, topping estimates by 1.1%. Steven Madden traded up 6.2% following the results while Nike was also up 4.9%.
Read our full analysis of Steven Madden’s results here and Nike’s results here.
Investors in the consumer discretionary - footwear segment have had steady hands going into earnings, with share prices flat over the last month. Wolverine Worldwide is up 3.7% during the same time and is heading into earnings with an average analyst price target of $21.70 (compared to the current share price of $18.71).
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