Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large. Finally, investors should note that CAL has a P/CF ratio of 5.17. This metric takes into account a company's operating cash flow and can be used to find stocks that are undervalued based on their solid cash outlook. This stock's ...

Financial Performance - Net sales for the thirteen weeks ended May 4, 2024, were $659,198 thousand, a decrease from $662,734 thousand for the same period in 2023, representing a decline of approximately 0.8%[72] - Gross profit for the period was $309,095 thousand, compared to $302,682 thousand in the prior year, indicating an increase of about 2.0%[72] - Operating earnings decreased to $42,758 thousand from $49,587 thousand year-over-year, reflecting a decline of approximately 13.7%[72] - Net earnings attributable to Caleres, Inc. were $30,939 thousand, down from $34,727 thousand in the previous year, a decrease of about 10.3%[72] - Basic and diluted earnings per share attributable to Caleres, Inc. shareholders were both $0.88, compared to $0.97 in the same quarter last year, a decline of approximately 9.3%[72] - Comprehensive income for the period was $31,322 thousand, compared to $35,217 thousand in the prior year, reflecting a decrease of approximately 11.0%[76] - Selling and administrative expenses rose to $266,337 thousand from $253,095 thousand, an increase of about 5.2% year-over-year[72] - Operating earnings for the same period were $42,758 thousand, down from $49,587 thousand in the prior year, reflecting a decrease of approximately 15.5%[93] - Net sales for the first quarter of 2024 were $659.2 million, a slight decrease of 0.5% compared to $662.7 million in the first quarter of 2023[175] - Gross profit increased by $6.4 million, or 2.1%, to $309.1 million for the first quarter of 2024, with a gross margin of 46.9%, up from 45.7% in the prior year[176] - Operating earnings for the first quarter of 2024 were $42.8 million, representing 6.5% of net sales, compared to $49.6 million or 7.5% of net sales in the first quarter of 2023[175] - Net earnings attributable to Caleres, Inc. were $30.9 million for the first quarter of 2024, down from $34.7 million in the same period last year[180] Sales and Revenue - Net sales for the thirteen weeks ended May 4, 2024, were $659,198 thousand, a slight decrease from $662,734 thousand for the same period in 2023[93] - Net sales decreased by $3.5 million, or 0.5%, to $659.2 million for the first quarter of 2024 compared to $662.7 million for the first quarter of 2023[144] - The Brand Portfolio segment net sales declined by $8.3 million, or 2.6%, primarily due to lower wholesale sales[147] - Comparable sales for the Famous Footwear segment decreased by 2.3%, while the Brand Portfolio segment experienced a decline of 8.5%[135] - Direct-to-consumer sales represented approximately 69% of consolidated net sales for the first quarter of 2024, up from 68% in the prior year[147] - The company experienced a 9.4% increase in sales from owned e-commerce businesses compared to the first quarter of 2023[147] - E-commerce sales improved, with e-commerce penetration at approximately 13% of net sales in Q1 2024, up from 12% in Q1 2023[265] - The kids category continued to perform well, exceeding last year's volume[265] Expenses and Liabilities - Selling and administrative expenses increased by $2.1 million, or 1.5%, to $144.1 million for the first quarter of 2024, with expenses as a percentage of net sales rising to 41.3%[184] - The loyalty programs liability increased by $9.7 million during the thirteen weeks ended May 4, 2024, due to points earned on purchases[89] - Cash paid for lease liabilities during the thirteen weeks ended May 4, 2024, was $42.2 million, compared to $41.2 million for the same period in 2023[99] - Operating lease expense increased to $40.023 million from $39.142 million in the prior year[154] - Selling and administrative expenses rose by $5.2 million, or 5.1%, to $106.4 million for Q1 2024, representing 33.5% of net sales, compared to 31.1% in Q1 2023[190] Assets and Inventory - The total segment assets as of May 4, 2024, amounted to $1,861,110 thousand, compared to $1,818,083 thousand as of April 29, 2023, indicating an increase of about 2.4%[93] - The net inventory balance as of May 4, 2024, was $530,570 thousand, down from $559,467 thousand a year earlier, representing a decrease of approximately 5.1%[120] - The goodwill and intangible assets, net, as of May 4, 2024, were $200,551 thousand, down from $212,353 thousand as of April 29, 2023, reflecting a decrease of about 5.5%[121] - Customer allowances and discounts as of May 4, 2024, were $17,090 thousand, a decrease from $19,076 thousand as of April 29, 2023[116] - The loyalty programs liability decreased to $8,350 thousand as of May 4, 2024, from $16,993 thousand a year earlier, indicating a significant reduction of approximately 50.8%[116] Shareholder Actions - The company repurchased 416,000 shares during the thirteen weeks ended May 4, 2024, under its publicly announced share repurchase program[92] - The company declared and paid dividends of $0.07 per share in both Q1 2024 and Q1 2023, with future dividends subject to Board discretion[200] Tax and Remediation - The effective tax rate for the first quarter of 2024 was 23.0%, slightly down from 23.5% in the first quarter of 2023[179] - The reserve for anticipated future remediation activities is $9.2 million, with $4.8 million allocated for off-site remediation and $4.4 million for on-site remediation[168] Operational Changes - The company opened 3 new stores and closed 8 stores, resulting in a total of 855 ending stores[135] - The company is undergoing a multi-year cloud-based ERP implementation, with the first phase scheduled to go live in Q2 2024[225]

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are und ...

Financial Data and Key Metrics Changes - The company achieved earnings per share of $0.88, slightly below last year's $0.97, with consolidated sales of $659 million, down less than 1% year-over-year [26][35][60] - Consolidated gross margin reached a record 47%, representing a 120 basis point increase compared to the previous year [26][60] - Operating earnings were $43 million, with an operating margin of 6.5% [37] Business Line Data and Key Metrics Changes - Brand Portfolio sales declined by 2.6%, while Famous Footwear sales were flat, with comparable sales down 2.3% [14][60] - Famous Footwear gross margin improved to 46.1%, up 50 basis points from last year, driven by lower freight costs and improved shrink [36][60] - The Brand Portfolio delivered a strong operating margin of 13.1%, contributing significantly to the company's operating earnings [37][60] Market Data and Key Metrics Changes - The company gained 1.9 points of market share in shoe chains, particularly in the kids' category, which saw high-single-digit sales growth [33][56] - The kids' category has outpaced the total business for 13 consecutive quarters, indicating strong demand [56] Company Strategy and Development Direction - The company is focusing on enhancing its marketing ecosystem and expanding its international presence, including opening new stores in Southeast Asia [6][29] - Investments in marketing and design are aimed at driving growth in key brands, with a particular emphasis on casual and athletic footwear [28][60] - The company plans to continue leveraging its speed to market capabilities to align inventory with consumer demand [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver earnings per share in line with guidance, with expectations for sales growth in the mid-single digits for Famous Footwear in Q2 [39][42] - The company anticipates continued improvement in gross margins, particularly in the Brand Portfolio, driven by cleaner inventory and a favorable channel mix [89] - Management noted a shift in consumer preferences towards casual and athletic footwear, which is expected to continue throughout the year [68][69] Other Important Information - The company returned $18 million to shareholders through share repurchases and dividends during the quarter [6] - Inventory at quarter-end was $531 million, down 5.2% year-over-year, reflecting disciplined inventory management [38] Q&A Session Summary Question: Guidance for second quarter and fiscal year expectations - Management expects Famous to provide mid-single-digit sales growth due to a critical back-to-school week shift into Q2, while the Brand Portfolio is anticipated to generate low-single-digit comp growth [42] Question: Planning for back-to-school - Management emphasized the importance of newness in product offerings and expressed confidence in inventory availability, particularly for sneakers [49][50] Question: Current state of the consumer - Management noted strength in athletic brands and a focus on item-driven sales, with a continued pivot towards casual and athletic products [70][72] Question: Performance of FLAIR stores - FLAIR stores are performing well, with adjustments made to store layouts to enhance visibility and consumer experience [83] Question: Expectations for gross margin and SG&A in Q2 - Management anticipates continued improvement in gross margin for the Brand Portfolio, while SG&A investments will continue into Q2 [88][89]

15 CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) CVFERES FIRST Q U A R T E R 2024 4 Exceptional capabilities in sourcing and logistics, digital, marketing and analytics, and technology Passionate and ambitious team in a valuedriving culture | --- | --- | |----------------------------------------------|-------| | | | | | | | 3 % - | 5 % | | | | | R E V E N U E G R O W T H C A G R 11 % - | 13 % | | E P S G R O W T H C A G R L O W -T O TEENS | | | A N N U A L T S R T A R G E T | | 1 | ...

For the quarter ended April 2024, Caleres Inc. (CAL) reported revenue of $659.2 million, down 0.5% over the same period last year. EPS came in at $0.88, compared to $0.97 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $665.45 million, representing a surprise of -0.94%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.86. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and h ...

Caleres Inc. (CAL) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.97 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of 2.33%. 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 $0.86, delivering no surprise. Over the last four quarters ...

2 CALERES, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) | --- | --- | --- | --- | --- | |-----------------------------------------------------|-------|-----------|-------|-----------| | | | | | | | LIABILITIES AND EQUITY | | | | | | Borrowings under revolving credit agreement | $ | 191,000 | $ | 291,500 | | Trade accounts payable | | 267,388 | | 261,753 | | Lease obligations | | 120,872 | | 136,297 | | Other accrued expenses | | 185,105 | | 189,727 | | Total current liabilities | | 764,365 ...

Analysts on Wall Street project that Caleres Inc. (CAL) will announce quarterly earnings of $0.86 per share in its forthcoming report, representing a decline of 11.3% year over year. Revenues are projected to reach $665.45 million, increasing 0.4% from the same quarter last year. The consensus EPS estimate for the quarter has been revised 2.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this ...

Financial Performance - The aggregate market value of the stock held by non-affiliates was approximately $892.2 million as of July 28, 2023[13]. - The backlog of unfilled wholesale orders as of February 3, 2024, was approximately $234.5 million, down from $284.6 million in January 2023[68]. - The company spent approximately $74.3 million on advertising and marketing support for the Brand Portfolio segment in 2023[63]. - The company spent approximately $59.0 million on advertising and marketing for Famous Footwear in 2023[30]. - The company anticipates that the retail store count in 2024 will be approximately flat compared to the ending store count for 2023[28]. Store Operations - The Famous Footwear segment operated 860 stores at the end of 2023, selling primarily branded footwear for the entire family[20]. - The total number of Famous Footwear stores decreased from 894 in 2021 to 860 in 2023[33]. - The company operated 57 Allen Edmonds stores in the U.S. at the end of 2023, with plans to open six new stores and close four in 2024[61]. - The company operates 62 retail stores in the United States and 36 stores in East Asia under the Brand Portfolio segment[20]. - New stores typically reach a normal level of profitability within approximately four years of operation[28]. Product Sales and Categories - Women's footwear accounted for 61% of net sales in 2023, while men's footwear represented 21%[21]. - The Brand Portfolio segment sold approximately 35.2 million pairs of shoes on a wholesale basis during 2023[50]. - The Famous Footwear segment's company-owned and licensed products represent approximately 5% of its net sales[23]. - The Famous Footwear e-commerce platform fulfills approximately two-thirds of all e-commerce orders not picked up in-store[25]. - The retail price points for Famous Footwear typically range from $20 for shoes to $300 for boots[23]. Sourcing and Inventory - The sourcing operations sourced approximately 34.9 million pairs of shoes in 2023, primarily from 62 manufacturers across 118 facilities[66]. - Approximately 20% of inventory receipts were sourced through speed programs during 2023, with expectations for continued growth in 2024[58]. Marketing and Advertising - In 2023, the company spent approximately $59.0 million on advertising and marketing for Famous Footwear[30]. - The company spent approximately $74.3 million on advertising and marketing support for the Brand Portfolio segment in 2023[63]. Employee and Corporate Governance - As of February 3, 2024, the company had approximately 9,200 employees, including 5,100 full-time and 4,100 part-time[72]. - The company's compensation programs are designed to encourage superior performance and drive long-term shareholder value, offering competitive salaries, comprehensive health insurance, and retirement plans[73]. - The Diversity, Equity and Inclusion Council aims to enhance awareness and recruit diverse talent, with 55% of the Board of Directors being female and 18% racially or ethnically diverse[75]. - The company has a strong executive team, with key positions held by experienced professionals in finance, sourcing, and technology[96][97][98]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to ambitious ESG targets, focusing on sustainable materials and supply chain labor standards, with a goal to achieve identified targets by 2025[77]. - The company emphasizes its commitment to Environmental, Social, and Governance (ESG) initiatives, aiming to achieve identified target goals by 2025[77]. - The company has been recognized on Newsweek's Most Responsible Companies list for its ESG strategy and progress towards sustainable products and practices[77]. - The company plans to publish another ESG report in spring 2024, detailing progress on sustainability goals[78]. Market Conditions and Competition - The business is seasonal, with higher sales during back-to-school and holiday seasons, although earnings distribution has become more balanced across quarters in recent years[82]. - The company faces competition from various retail formats, including e-commerce, requiring improvements in shipping costs and speeds[80]. - Economic uncertainties, including inflation and geopolitical tensions, may impact consumer spending and demand for the company's products[93]. - The company’s supply chain is heavily reliant on China, making it vulnerable to negative developments in U.S.-China relations[95]. - The wholesale footwear business has low barriers to entry, intensifying competition from various footwear suppliers[81].