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Wolverine's (WWW) Strategies Look Encouraging, Up 32.4% YTD
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Wolverine World Wide, Inc.’s(WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Image Source: Zacks Investment Research
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as
strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
Teaser: Wolverine (WWW - Free Report) is focused on strengthening its direct-to-consumer business. The company also reinforces its presence across international markets.
Wolverine World Wide, Inc’s. (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
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Wolverine's (WWW) Strategies Look Encouraging, Up 32.4% YTD
Wolverine World Wide, Inc.’s (WWW - Free Report) robust business strategies bode well. The company is striving to develop an efficient sourcing structure and diversify its global business as well as strengthen its direct-to-consumer (DTC) channel. WWW also focuses on developing brands that aptly suit consumer needs on the back of advanced technologies and accurate market insights.
Buoyed by such endeavors, shares of this designer of casual and active apparel have surged 32.4% in the year-to-date span, outperforming the industry’s 0.7% drop.
Let’s Delve Deep
Wolverine’s multichannel strategy is progressing well. Management had initiated a 100-day action plan, including a focus on inventory reduction, debt management, Keds sale and the creation of a profit improvement office to grab savings to drive growth. The profit improvement office is on track to generate $65 million of cost savings this year. Management expects $150 million of annual savings from the profit improvement office in 2024.
Image Source: Zacks Investment Research
Further, the company focuses on the brand structure, increasing efficiency by removing costs, strategic review of its portfolio, improving working capital and lowering leverage. We note that the sale of Keds and pending licensing of Hush Puppies transitions are well underway. It is also on track to divest the Wolverine leather business. The company looks forward to making further investments in Merrell and softening its lifestyle businesses as well as enhancing Sweaty Betty's global business. Wolverine remains confident in accomplishing a 12% operating margin in 2024.
WWW remains committed to new launches across different brand banners. In the first quarter of 2023, the Merrell brand continued its momentum, generating 18% revenue growth and 20% on a constant currency basis. Wolverine forecasts Merrell's revenues to increase by mid-single digits in 2023.
Saucony’s revenues also increased 21.2% to $132.6 million in the reported quarter. It predicts Saucony’s revenues to increase by high-single digits in 2023 with mid-single digits growth in the first half. Further, it predicts Sweaty Betty’s revenues to increase in the low single digits at constant currency in 2023.
The international business remains one of the company’s key drivers. WWW’s international business was robust in the first quarter and improved 12.6% to $249.7 million. International revenues increased 18% in constant currency. The company’s brands resonated well across the global markets and management sees major opportunities in both the owned and JV-operated markets. Merrell and Saucony were the major drivers across regions, generating 29% and 37% growth, respectively. Saucony's China JV delivered a sturdy quarter as sales increased more than 100%, reflecting strength in its multichannel strategy.
What Else?
Analysts seem optimistic about the company. For 2024, the Zacks Consensus Estimate for sales and earnings per share (EPS) is pegged at $2.61 billion and $2.26, respectively. These estimates show corresponding year-over-year growth of 2.9% and 51.1%. Also, the consensus estimate for the current year’s EPS is pegged at $1.49, reflecting a year-over-year increase of 5.7%.
To wrap up, this current Zacks Rank #3 (Hold) company is likely to continue performing well, given the aforesaid strengths.
Eye These Solid Picks
Some better-ranked companies are RoyalCaribbean (RCL - Free Report) , Crocs (CROX - Free Report) and lululemon athletica (LULU - Free Report) .
Royal Caribbean sports a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 26.4%, on average.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates increases of 47.9% and 158.3%, respectively, from the year-ago period’s reported levels.
Crocs, which offers casual lifestyle footwear and accessories, presently carries a Zacks Rank #2 (Buy). The expected EPS growth rate for three to five years is 15%.
The Zacks Consensus Estimate for Crocs’ current financial-year sales and EPS suggests growth of 13.1% and 2.8%, respectively, from the year-ago period’s reported figure. CROX has a trailing four-quarter earnings surprise of 21.8%, on average.
lululemon athletica is a yoga-inspired athletic apparel company. LULU carries a Zacks Rank of 2, at present.
The consensus estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 16.7% and 18%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.