Wolverine World Wide, Inc. (NYSE:WWW) Q2 2023 Earnings Conference Call August 10, 2023 8:30 AM ET

Company Participants

Alex Wiseman - Vice President of Finance

Tom Long - Chairman of the Board

Chris Hufnagel - President and Chief Executive Officer

Mike Stornant - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jonathan Komp - Robert W. Baird

Jim Duffy - Stifel Nicolaus

Sam Poser - Williams Trading

Mauricio Serna - UBS

Mitch Kummetz - Seaport Global Securities

Abbie Zvejnieks - Piper Sandler

Operator

Greetings. Welcome to the Wolverine Worldwide Inc. Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.

I'll now turn the conference over to your host, Alex Wiseman, Vice President of Finance. You may begin.

Alex Wiseman

Good morning, and welcome to our second quarter 2023 conference call. On the call today are Tom Long, Chairman of the Board; Chris Hufnagel, President and Chief Executive Officer; and Mike Stornant, Executive Vice President and Chief Financial Officer.

Earlier this morning, we issued our earnings press release and announced our financial results for the second quarter 2023. The press release is available on many news sites and can be viewed on our corporate Web site at wolverineworldwide.com.

This morning's earnings press release and comments made during today's earnings call include non-GAAP financial measures. These non-GAAP financial measures were reconciled to the more comparable GAAP financial measures in attached tables within the body of the release.

I'd also like to remind you that statements describing the Company's expectations, plans, predictions and projections, such as those regarding the company's outlook for fiscal year 2023, growth opportunities, and trends expected to affect the company's future performance made during today's conference call are forward-looking statements under U.S. securities laws. As a result, we must caution you that there are a number of factors that could cause actual results to differ materially from those described in the forward-looking statements. These important risk factors are identified in the company's SEC filings and in our press releases.

With that being said, I'd now like to turn the call over to Tom Long.

Tom Long

Thank you for joining today's call. Before the team discusses earnings, I'd like to address the leadership transition we announced today. Effective immediately, the Board has appointed Chris Hufnagel to succeed Brendan Hoffman as CEO of Wolverine Worldwide. The Board recognizes that Wolverine Worldwide needs to deliver improved financial performance, and the company must evolve to build brands that ignite consumer desire. We must ensure that everything we do begins with our product design, our brands, and the people that buy them. This can't merely be words; we have to develop the business systems, the management routines, and the consumer insights that drive excellence from the very top.