Caleres Inc. (CAL) Lags Q2 Earnings and Revenue Estimates

Core Insights - Caleres Inc. reported quarterly earnings of $0.85 per share, missing the Zacks Consensus Estimate of $1.21 per share, representing a -29.75% earnings surprise [1] - The company posted revenues of $683.32 million for the quarter ended July 2024, which was 4.55% below the Zacks Consensus Estimate and a decrease from $695.53 million year-over-year [2] Financial Performance - Over the last four quarters, Caleres has surpassed consensus EPS estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is $1.52, with expected revenues of $767.2 million, and for the current fiscal year, the estimate is $4.40 on $2.84 billion in revenues [7] Stock Performance - Caleres shares have increased approximately 21.2% since the beginning of the year, outperforming the S&P 500's gain of 16.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Shoes and Retail Apparel industry, to which Caleres belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Caleres' stock performance [5]