LOS ANGELES, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Caleres, Inc. ("Caleres" or "the Company") (NYSE: CAL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Caleres reported its second quarter 2024 on September 12, 2024. The Company repor ...

Key Takeaways Caleres, the parent of discount shoe retailer Famous Footwear, said weak demand, a later back-to-school period, and challenges with its resource planning system hurt second-quarter results. The footwear company missed quarterly profit and sales estimates, and cut its full-year outlook. The news sent Caleres shares into negative territory for 2024. Caleres (CAL) shares plunged Thursday when the footwear company significantly missed estimates and slashed its outlook on soft demand, a later back- ...

Core Insights - Caleres, Inc. reported disappointing second-quarter results for fiscal 2024, with adjusted earnings of 85 cents per share, missing the Zacks Consensus Estimate of $1.21 and down from 98 cents per share year over year [1][2]. Financial Performance - Consolidated net sales were $683.3 million, a decline of 1.8% year over year, and below the Zacks Consensus Estimate of $716 million [3]. - The Famous Footwear segment saw a 1.5% increase in net sales, while the Brand Portfolio segment experienced a 5.1% drop in sales [3]. - Gross profit decreased by 1.1% to $310.9 million, with a gross margin increase of 30 basis points to 45.5% [4]. - Adjusted EBITDA fell 12.4% to $57.2 million, with an adjusted EBITDA margin contraction of 100 basis points to 8.4% [5]. Segment Performance - The Famous Footwear segment's gross margin decreased by 120 basis points to 45%, while the Brand Portfolio segment's gross margin increased by 140 basis points to 42.7% [4]. - Direct-to-consumer sales accounted for approximately 75% of total quarterly sales [3]. Balance Sheet and Cash Flow - At the end of the quarter, Caleres had cash and cash equivalents of $51.8 million and total shareholders' equity of $613.5 million [6]. - Cash generated from operating activities was $115.7 million for the 26 weeks ended August 3, 2024 [6]. - The company had borrowings of $146.5 million under its asset-based revolving credit facility [6]. Future Outlook - For Q3, Caleres expects sales to be flat to down 2% year over year, with adjusted EPS projected between $1.30 and $1.40 [7]. - For fiscal 2024, the company anticipates consolidated net sales to decline in the low single digits, down from previous guidance of flat to up 2% [8]. - The projected consolidated operating margin is now expected to be in the range of 7-7.1%, compared to earlier projections of 7.3-7.5% [8].

CALERES 1 SECOND QUARTER 2024 September 12, 2024 | --- | --- | |------------------------------------------------------------------------------|-------| | | | | SAFE HARBOR | | | UNDER THE P RIVATE S ECURITIES LITIGATION REFORM ACT OF 1995 | | 2 FrancoSarto PORT WASHINGTON LifeStride CALERES vince. E S T VERONICA BEARD rykö NAT VIONIC R m CALERES IS UNIQUELY POSITIONED TO DRIVE LONG-TERM SHAREHOLDER VALUE 4 Merchant driven organization with powerful brand assets Exceptional capabilities in sourcing & logisti ...

The footwear retailer's latest results disappointed the market. Shares of Caleres (CAL -18.60%), the parent of Famous Footwear and other footwear brands, were tumbling today after the company posted disappointing results in its second-quarter earnings report. As of 11:34 a.m. ET, the stock was down 19.1% on the news. Caleres misses the mark Caleres said revenue in the quarter was down 1.8% to $683.3 million, well below estimates at $723.8 million. Famous Footwear sales rose 1.5%, which included a later-than ...

Caleres Inc. (CAL) came out with quarterly earnings of $0.85 per share, missing the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -29.75%. A quarter ago, it was expected that this footwear wholesaler and retailer would post earnings of $0.86 per share when it actually produced earnings of $0.88, delivering a surprise of 2.33%. Over the last four ...

Exhibit 99.1 Caleres Reports Second Quarter Results and Updates Guidance ST. LOUIS, September 12, 2024 - Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for the second quarter 2024. ● Reported Sales of $683.3 million, down 1.8% year-on-year; ● Famous Footwear sales increased 1.5% versus the second quarter of 2023 with a later than expected back- to-school season; ● Brand Portfolio sales declined 5.1% versus the second quarter of 2023 due t ...

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Caleres Inc. (CAL) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question. The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of su ...

What's the Price-to-Sales Ratio? The price-to-sales ratio is often preferred over price-to-earnings, as companies can manipulate their earnings using various accounting measures. However, sales are harder to manipulate and are relatively reliable. Screening Parameters Debt to Equity (Most Recent) less than the Median Debt to Equity for its Industry: A company with less debt should have a stable price-to-sales ratio. Here are five of the 17 stocks that qualified after the screening: Caleres expects to contin ...

Investing in stocks, after analyzing the valuation metrics, is considered one of the best practices. The price-toearnings ratio has always been the obvious choice when considering valuation metrics. This is because calculations based on earnings are easy and come in handy. However, the price-to-sales ratio is convenient for determining the value of stocks that are incurring losses or in an early development cycle, generating meager or no profit. What's the Price-to-Sales Ratio? While a loss-making company w ...