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
$15.27
Day's Change
0.37 (2.48%)
Bid
--
Ask
--
B/A Size
--
Day's High
15.39
Day's Low
14.83
Volume
(Light)
Volume:
1,096,329

10-day average volume:
1,379,401
1,096,329

These stocks are burning cash fast and might need to raise capital soon, Goldman Sachs flags

3:50 am ET November 22, 2022 (MarketWatch)
Print

By Steve Goldstein

Equity strategists at Goldman Sachs (GS) point out the cost of money is no longer next to nothing. The weighted average cost of capital for U.S. companies has gone from near the lowest level in history to 6%, the highest level in a decade.

The 200 basis point increase during the year is the largest 12-month rise in 40 years, and the Goldman team doesn't expect a big drop anytime soon, as they think the Fed will pause once it takes rates between 5% and 5.25%.

With rates these high, the strategists put together a list of companies with high SHYSHYcash burn rates and also lofty valuations, all of which are losing money, as they advised investors to avoid unprofitable long-duration equities. The lists includes electric vehicle makers Lordstown Motors (RIDE) and Nikola (NKLA).

"Unprofitable growth stocks will continue to face both elevated discount rate risk from a higher cost of capital and the additional risk from needing to source funding in an environment of tight financial conditions," the Goldman team says.

One risk, however, to anyone wanting to short these companies: these are all prime candidates to get taken over.

The S&P 500 closed lower on Monday and has dropped 17% this year.

-Steve Goldstein

	

(END) Dow Jones Newswires

November 22, 2022 03:50 ET (08:50 GMT)

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