Caleres (NYSE: CAL) reported Q2 EPS of $1.19, $0.66 better than the analyst estimate of $0.53. Revenue for the quarter came in at $675.5 million versus the consensus estimate of $640.4 million.

“The Caleres team continued to execute at a high level during the quarter, achieving another significant sequential increase in sales and delivering earnings well in excess of pre-pandemic levels,” said Diane Sullivan, Chairman and Chief Executive Officer. “This exceptional performance was led by record-setting quarterly results at Famous Footwear, which in a single quarter delivered operating earnings that exceeded full year 2019. Driving these results, Famous Footwear achieved a more than eight-percent increase in revenue, a more than 100-percent increase in return on sales, and a 670-basis-point increase in gross margin to reach approximately 50 percent versus the same period of 2019. Complementing Famous Footwear’s outstanding performance, our Brand Portfolio surpassed its operating earnings for the same period of 2019, led by strong and improving earnings results from key leadership and emerging brands, including Vionic, Sam Edelman, Allen Edmonds and Blowfish Malibu.

GUIDANCE:

Caleres sees FY2021 EPS of $3.25-$3.50, versus the consensus of $2.24.

For earnings history and earnings-related data on Caleres (CAL) click here.