Tuesday, July 9, 2013

Investopedia: Wolverine Surpassings Its Marks, But Not Cheap

It's not just well-run athletic shoe companies like Nike (NYSE:NKE) or Adidas (Nasdaq:ADDYY) that can reward shareholders. The shares of companies that fall more into the “lifestyle footwear” category like Brown Shoe (NYSE:BWS) and Wolverine (NYSE:WWW) have also done quite well over the past year, with the later clearly benefiting from the huge scale-up provided by the PLG acquisition. While I'll admit that underestimating Wolverine could be dangerous as it continues to surpass sell-side estimates, it's hard for me to see the value argument for these shares right now.

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