Wolverine Worldwide expects 2013 sales to rise 5.5%

On July 11, 2013, the Company's Board of Directors declared a two-for-one stock split, which was paid in the form of a stock dividend on November 1, 2013.  All references to the Company's share and per share data are presented on a split-adjusted basis.

On a preliminary unaudited basis, for full fiscal year 2013 ended December 28, 2013, the Company expects:

Revenue to approximate $2.69 billion, representing growth of 5.5% versus prior year pro forma revenue of $2.55 billion and growth of 64.0% versus prior year reported revenue of $1.64 billion.

Adjusted fully diluted earnings – excluding transaction and integration expenses related to the PLG Acquisition, restructuring charges related to the Company's owned manufacturing operations, and expenses related to the October 2013 refinancing – at the high end of the previous earnings guidance of $1.37 to $1.42 per share.

Reported fully diluted earnings at the high end of the previous earnings guidance of $0.85 to $0.90 per share.

Consolidated inventories at year end to be materially lower than at the end of fiscal year 2012.

Wolverine Worldwide