Stock Story -
Footwear company Caleres (NYSE:CAL) will be reporting results tomorrow morning. Here’s what investors should know.
Caleres met analysts’ revenue expectations last quarter, reporting revenues of $659.2 million, flat year on year. It was a solid quarter for the company, with optimistic earnings guidance for the next quarter and a narrow beat of analysts’ operating margin estimates.
Is Caleres a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Caleres’s revenue to grow 4.1% year on year to $723.8 million, a reversal from the 5.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.22 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Caleres has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Caleres’s peers in the footwear segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Genesco (NYSE:GCO) posted flat year-on-year revenue, beating analysts’ expectations by 2.5%, and Wolverine Worldwide (NYSE:WWW) reported a revenue decline of 18.4%, topping estimates by 3.4%. Genesco traded down 12.6% following the results while Wolverine Worldwide was also down 6%.
Read the full analysis of Genesco’s and Wolverine Worldwide’s results on StockStory.
There has been positive sentiment among investors in the footwear segment, with share prices up 6.9% on average over the last month. Caleres is up 1.1% during the same time and is heading into earnings with an average analyst price target of $44.7 (compared to the current share price of $37.05).