Wolverine World Wide Lifts FY Profit Outlook

(RTTNews) - Wolverine World Wide Inc. (WWW) raised full-year earnings guidance and updated its full-year outlook.

For 2018, the company now expects earnings per share to be in the range of $2.05 to $2.12 and adjusted earnings per share to be in the range of $2.08 to $2.15. Earlier, the company expected earnings per share in the range of $1.92 to $2.02 and adjusted earnings per share of $2.00 to $2.10. Analysts polled by Thomson Reuters expect the company to report earnings of $2.08 per share for 2018. Analysts' estimates typically exclude special items.

The company still expects revenue to be in the range of $2.24 billion to $2.32 billion for fiscal year 2018. Analysts expect revenue of $2.28 billion for 2018.

Gross margin expansion is now expected to be in the range of 100 to 130 basis points higher compared to the adjusted prior year, despite a full-year negative mix impact of 20 basis points from 2017 store closures.

Reported operating margin is now expected to be between 11.6% to 11.9% and adjusted operating margin is now expected to be 12.1% to 12.4%, inclusive of up to $45 million of incremental investments to support the Company's GLOBAL GROWTH AGENDA.