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Caleres Inc. (CAL) Q3 Earnings and Revenues Lag Estimates
CALCaleres(CAL) ZACKS·2024-12-05 14:05

Group 1: Earnings Performance - Caleres Inc. reported quarterly earnings of 1.23pershare,missingtheZacksConsensusEstimateof1.23 per share, missing the Zacks Consensus Estimate of 1.34 per share, and down from 1.37pershareayearago,representinganearningssurpriseof−8.211.37 per share a year ago, representing an earnings surprise of -8.21% [1] - The company posted revenues of 740.94 million for the quarter ended October 2024, missing the Zacks Consensus Estimate by 1.46%, and down from 761.9millionyear−over−year[2]−Overthelastfourquarters,CalereshassurpassedconsensusEPSestimatesonlyonceandhasnotbeatenconsensusrevenueestimatesduringthesameperiod[2]Group2:StockPerformanceandOutlook−CaleresInc.shareshaveincreasedbyapproximately8761.9 million year-over-year [2] - Over the last four quarters, Caleres has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Group 2: Stock Performance and Outlook - Caleres Inc. shares have increased by approximately 8% since the beginning of the year, while the S&P 500 has gained 27.6% [4] - The current consensus EPS estimate for the upcoming quarter is 0.95 on revenues of 675.63million,andforthecurrentfiscalyear,itis675.63 million, and for the current fiscal year, it is 4.01 on revenues of $2.77 billion [8] - The estimate revisions trend for Caleres Inc. is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] Group 3: Industry Context - The Shoes and Retail Apparel industry, to which Caleres belongs, is currently in the top 16% of over 250 Zacks industries, suggesting a favorable industry outlook [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6]