Footwear company Caleres (NYSE: CAL) will be reporting earnings this Thursday before market hours. Here’s what to expect.
Caleres missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $614.2 million, down 6.8% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is Caleres a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Caleres’s revenue to decline 3.9% year on year to $656.5 million, a further deceleration from the 1.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.56 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.
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. Wolverine Worldwide delivered year-on-year revenue growth of 11.5%, beating analysts’ expectations by 5.1%, and Deckers reported revenues up 16.9%, topping estimates by 7.2%. Wolverine Worldwide traded up 18% following the results while Deckers was also up 11.3%.
Read our full analysis of Wolverine Worldwide’s results here and Deckers’s results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 10.2% on average over the last month. Caleres is up 6.7% during the same time and is heading into earnings with an average analyst price target of $19.50 (compared to the current share price of $14.80).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
