Wolverine World Wide Inc
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Consumer Discretionary : Textiles, Apparel & Luxury Goods | Small Cap Value
Company profile

Wolverine World Wide, Inc. is a designer, marketer and licensor of a range of quality casual footwear and apparel, performance outdoor and athletic footwear and apparel, kids' footwear, industrial work boots and apparel, and uniform shoes and boots. The Company operates through two segments: Wolverine Michigan Group and Wolverine Boston Group. Its Wolverine Michigan Group consists of footwear and apparel under brand names Merrell, Cat, Wolverine, Chaco, Hush Puppies, Bates uniform footwear, Harley-Davidson and Hytest safety footwear. Its Wolverine Boston Group consists of Sperry footwear, Saucony footwear and apparel, Keds footwear and the kids' footwear business, which includes the Stride Rite licensed business, as well as kids' footwear offerings from Saucony, Sperry, Keds, Merrell, Hush Puppies and Cat. Its products are marketed in approximately 170 countries, including the United States, Canada, the United Kingdom and certain countries in continental Europe and Asia Pacific.

Closing Price
Day's Change
0.37 (2.48%)
B/A Size
Day's High
Day's Low

10-day average volume:

Tyson Foods misses profit expectations as margins contract, chicken prices jump while beef prices fall

7:10 am ET November 14, 2022 (MarketWatch)

Shares of Tyson Foods Inc. fell 0.8% in premarket trading Monday, after the processed meats company reported fiscal fourth-quarter profit that missed expectation while sales rose above forecasts, as the inflationary environment weighed on margins. Net income for the quarter to Oct. 1 fell to $538 million, or $1.50 a share, from $1.36 billion, or $3.71 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.63 missed the FactSet consensus of $1.70. Sales grew 7.2% to $13.74 billion, above the FactSet consensus of $13.49 billion. Cost of sales climbed 20.3% to $12.43 billion, as gross margin contracted to 9.5% from 19.3%. Volume increased 2.1%, as beef rose 5.1%, chicken increased 1.1% and prepared foods grew 0.3%, while port fell 1.1%. Average price change rose 5.1% overall, as chicken prices jumped 18.2%^ and prepared foods increased 11.4%, while beef prices fell 8.2% and pork prices declined 1.5%. Tyson Foods stock sank 17.6% over the past three months through Friday, while the S&P 500 has lost 6.7%.

-Tomi Kilgore


(END) Dow Jones Newswires

November 14, 2022 07:10 ET (12:10 GMT)

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