Caleres (CAL) Tops Q1 EPS by 1c, provides guidance

Caleres (NYSE: CAL) reported Q1 EPS of $0.88, $0.01 better than the analyst estimate of $0.87. Revenue for the quarter came in at $659.2 million versus the consensus estimate of $665.5 million.

Fiscal 2024 Outlook:

Caleres is reiterating its fiscal 2024 financial outlook and as previously noted, its fiscal 2024 is a 52-week year and compares to a 53-week year in fiscal 2023. Specifically, the company still expects consolidated net sales to be flat to up 2 percent, compared to 2023, and earnings per diluted share to be in the range of $4.30 to $4.60.

In addition, for fiscal 2024, the company still expects:

Consolidated operating margin of 7.3 percent to 7.5 percent;
Effective tax rate of about 24 percent; and
Capital expenditures of $60 million to $70 million.

For second quarter 2024 the company expects:

Consolidated net sales to be up 3 percent to 4 percent. This includes an estimated $20 to $25 million benefit in Famous Footwear as a result of the calendar shift of an important back-to-school week into second quarter 2024 from third quarter 2023; and
Earnings per diluted share of $1.20 to $1.25.

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

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