Caleres (NYSE:CAL) reported Q1 EPS of $1.32, $0.49 better than the analyst estimate of $0.83. Revenue for the quarter came in at $735.1 million versus the consensus estimate of $677.28 million.
Outlook:
“Looking ahead, even with ongoing supply chain challenges and persistent macro-economic headwinds, Caleres is exceptionally well-positioned to capitalize on favorable market dynamics,” said Sullivan. “As we progress through the year, we are committed to advancing our strategic priorities and have redoubled our efforts to unlock the growth opportunities identified across the enterprise. With the significant step-change achieved in the long-term cash generating potential of our diversified portfolio, coupled with our carefully defined capital return program, we are confident we can drive substantial, long-term value for our shareholders.”
Fiscal Year 2022 Outlook:
Given the strong start to the year, robust consumer demand for its brands and products and the significant structural changes implemented across its business, Caleres is raising its fiscal-year 2022 financial outlook. Specifically, the company now expects consolidated sales levels to be up between 2 percent and 5 percent when compared to fiscal year 2021 and expects earnings per diluted share to be between $4.20 and $4.40, representing another year of record or near-record earnings for the organization.
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