Free Post Earnings Research Report: Caleres’ Adjusted EPS Advanced 7.5%

LONDON, UK / ACCESSWIRE / June 29, 2018 /

If you want access to our free earnings report on Caleres, Inc. (NYSE: CAL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CAL. The Company reported its first quarter fiscal 2018 operating and financial results on May 31, 2018. The footwear wholesaler and retailer re-affirmed its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Caleres most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the thirteen-week period ended May 05, 2018, Caleres’ consolidated net sales came in at $632.1 million compared to $631.1 million in Q1 FY17. The Company’s revenue numbers came in short of analysts’ estimates by $12.85 million.

During Q1 FY18, Caleres’ gross profit totaled $274.9 million, up 1.5% compared to $270.9 million in Q1 FY17. The Company’s gross margin improved 59 basis points (bps) to 43.5% in the reported quarter.

For Q1 FY18, Caleres’ operating earnings were $22.9 million compared to $23.3 million in Q1 FY17. The Company’s operating margin was 3.6% in the reported quarter, down 10 bps compared to the year ago same period. Caleres’ adjusted operating earnings were $24.7 million compared to $27.4 million in Q1 FY17, while its adjusted operating margin was 3.9% in Q1 FY18, down 40 bps from Q1 FY17.

Caleres’ reported net earnings were $17.2 million, or $0.40 per diluted share, compared to $14.9 million, or $0.35 per diluted share, in Q1 FY17. The Company’s results for the reported quarter included a charge of $0.03 per share for the transition of Allen Edmonds’ consumer-facing activities to St. Louis.

For Q1 FY18, Caleres’ adjusted net earnings per diluted share advanced 7.5% to $0.43 compared to $0.40 in Q1 FY17. Analysts were expecting the Company to report earnings per share of $0.47.

Segment Results

During Q1 FY18, Caleres’ Famous Footwear segment’s total sales were down 0.8% to $363.4 million on a y-o-y basis, as the Company operated 39 fewer doors y-o-y. The segment’s same-store sales declined 0.8% on a y-o-y basis, driven by unseasonable weather across the majority of the US, as the Company noted that 2/3 of its sales at Famous Footwear were generated in areas having cold or moderate climates.

For Q1 FY18, Caleres’ Brand Portfolio segment’s sales were up 1.4% to $268.7 million on a y-o-y basis.

Cash Matters

As of May 05, 2018, Caleres’ cash and equivalents were $96.5 million compared to $71.8 million as on April 29, 2017. The Company did not have any outstanding borrowings under its revolving credit facility at the end of the reported quarter.

At the end of Q1 FY18, Caleres’ inventory was up 2.6% to $579.9 million on a y-o-y basis, while its capital expenditure was down 24.3% to $9.4 million compared to the year ago same period.

During Q1 FY18, Caleres repurchased 100,000 shares of its common stock for a total of $3.3 million.

Store Update

Caleres ended Q1 FY18 with 1,013 Famous Footwear doors. For its Brand Portfolio, the Company opened 4 new doors in the quarter and closed 5, totaling 235 doors at the end of the quarter.

Outlook

For the full fiscal year 2018, Caleres is forecasting consolidated net sales to be approximately $2.8 billion. The Company is estimating Famous Footwear same-store sales to grow in the low-single digits, while sales at Brand Portfolio are also expected to be up in the low-single digits. For FY18, Caleres is projecting adjusted earnings per share to be in the range of $2.40 to $2.50.

Stock Performance Snapshot

June 28, 2018 – At Thursday’s closing bell, Caleres’ stock marginally advanced 0.28%, ending the trading session at $35.23.

Volume traded for the day: 381.34 thousand shares.

Stock performance in the last three-month – up 4.85%; previous six-month period – up 5.57%; past twelve-month period – up 26.86%; and year-to-date – up 5.23%

After yesterday’s close, Caleres’ market cap was at $1.49 billion.

Price to Earnings (P/E) ratio was at 17.05.

The stock has a dividend yield of 0.79%.

The stock is part of the Consumer Goods sector, categorized under the Textile – Apparel Footwear & Accessories industry. This sector was up 0.6% at the end of the session.

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