Caleres (CAL) Misses Q1 EPS by 2c, Offers Guidance
Caleres (NYSE: CAL) reported Q1 EPS of $0.41, $0.02 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $584.7 million versus the consensus estimate of $610.58 million.
Famous Footwear comps rose 1 percent.
Brand Portfolio
- Sales down 9.1%, reflecting a planned reduction in Healthy Living sales
- Gross margin up 279 basis points to 35.9%, benefitting from the exit of some lower margin categories
- Opened four Sam Edelman retail stores and invested in the development of the Diane von Furstenberg and George Brown brands
- Inventory down 4.1%, on solid inventory management
GUIDANCE:
Caleres sees FY2016 EPS of $2.00-$2.10, versus the consensus of $2.09. Caleres sees FY2016 revenue of $2.60-2.63 billion, versus the consensus of $2.66 billion.
Outlook for 2016 | |||||||
| Consolidated net sales | $2.60B to $2.63B | ||||||
| Famous Footwear same-store-sales | Up low-single digits | ||||||
| Brand Portfolio sales | Flat to down low-single digits | ||||||
| Gross margin | Up 15 to 25 bps | ||||||
| SG&A as a percent of revenue | Down 5 to 15 bps | ||||||
| Effective tax rate | 30% to 32% | ||||||
| Earnings per diluted share | $2.00 to $2.10 | ||||||
| Capital expenditures | ~$70M | ||||||
For earnings history and earnings-related data on Caleres (CAL) click here.