NEW YORK ( TheStreet) -- Earlier this month, the footwear company Wolverine World Wide (WWW - Get Report) released impressive quarterly results in which it managed to beat both top- and bottom-line estimates. Wolverine has a portfolio of footwear brands that includes Cat, Harley Davidson, Hush Puppies, Merrell and Sperry, and has reported phenomenal growth (on the back of a major acquisition I'll get to shortly).As a result, the company is now sitting atop a massive pile of debt. Moreover, although its shares have underperformed this year against some of its key competitors, they are still trading more than 40 times its trailing earnings. Despite these stellar results, I believe investors should stay away from this stock. Let's dig deeper.
Wolverine Growing Under a Pile of Debt
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