Wolverine Worldwide Affirms Preliminary 2023 Financial Results in Line With Guidance - Seite 2

The Company will provide additional details about these preliminary, unaudited results when it presents at the 2024 ICR Conference being held at the Grande Lakes Orlando Resort on Monday, January 8, 2024 at 10:00 AM ET. The presentation will be webcast live and available for replay at the investor relations section of the Company’s website www.wolverineworldwide.com.

This release does not present all necessary information for an understanding of the Company’s full year and fourth quarter fiscal 2023 results and the Company’s financial condition as of December 30, 2023. The expected results described in this release are preliminary and unaudited estimates based on information available to management as of the date of this release and are subject to change upon completion of the Company’s standard year-end closing procedures. As the Company completes its year-end financial close process and finalizes its financial statements, it will be required to make significant judgments, which may result in changes to these preliminary and unaudited estimates. Any changes to the expected results described in this release may be material.

The Company noted that it expects to report final, audited results for the fourth quarter and fiscal 2023 year and provide its financial outlook and strategic priorities for fiscal 2024 in February 2024, and does not intend to update the financial information set forth above before releasing the final, audited results.

Non-GAAP Information

Measures referred to in this release as “adjusted” financial results and the financial results of the "ongoing business" are non-GAAP measures. Adjusted financial results exclude environmental and other related costs net of recoveries, impairment of long-lived assets, reorganization costs, debt modification costs, gain on the sale of businesses, trademarks and intangible assets, Sperry store closure costs, costs associated with divestitures. The financial results of the ongoing business exclude financial results from the Keds business, Wolverine Leathers business and reflect an adjustment for the transition of our Hush Puppies North America business to a licensing model in the second half of 2023.