Footwear company Caleres (NYSE: CAL) will be reporting earnings tomorrow before market hours. Here’s what to expect.
Caleres missed analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $639.2 million, down 8.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and EPS guidance for next quarter missing analysts’ expectations significantly.
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 5.6% year on year to $622 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.37 per share.
Analysts covering the company have generally 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 Q1 results, giving us a hint as to what we can expect. Steven Madden posted flat year-on-year revenue, missing analysts’ expectations by 1%, and Crocs reported flat revenue, topping estimates by 3.1%. Steven Madden traded up 18.7% following the results while Crocs was also up 8.7%.
Read our full analysis of Steven Madden’s results here and Crocs’s results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 8% on average over the last month. Caleres is up 16.1% during the same time and is heading into earnings with an average analyst price target of $20 (compared to the current share price of $18).
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