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Non-Tech : Wolverine World Wide: Need some good shoes?
WWW 18.10-0.6%12:09 PM EST
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To: David Hass who wrote (149)11/23/1998 2:13:00 PM
From: Ken Turetzky   of 178
 
So in six months we'll be back to 20?

>In the last month or so, he has moved into consumer stocks, including Wolverine World Wide, maker of Hush Puppies shoes. He bought shares at an average of $11, down from $30.50 in March.

"We think the low-priced shoe business is relatively stable," he said. "When Wall Street liked it, Wolverine sold for more than 25 times earnings, and now it's slipped to less than 10 times 1999 earnings." He expects that to climb to 15 over the next six months. The stock now trades at $13.0625.<
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