US’ Wolverine Worldwide posts revenue of $394.9 mn in Q1 FY24

American firm Wolverine Worldwide reported a sharp 34.1 per cent decrease in Q1 FY24 revenue, totalling $394.9 million.
The company saw a notable improvement in gross margin, increasing to 45.9 per cent.
However, operating margin dropped dramatically to minus 0.8 per cent in Q1 FY24, and diluted earnings per share turned negative at $0.19.

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