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Fly News Breaks for May 17, 2019
WWW
May 17, 2019 | 09:30 EDT
As previously reported, Argus analyst John Staszak downgraded Wolverine World Wide to Hold after its Q1 revenue missed expectations, also lowering his FY19 and FY20 EPS view by 12c to $2.28 and $2.52 respectively. The analyst notes that spending on footwear will still grow over the longer term as consumer confidence improves and points to the company cutting of expenses and "pruning" of underperforming brands, but also sees the gains derived from these efforts as being reflected in Wolverine World Wide stock price.
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