Caleres (CAL) Misses Q1 EPS by 2c, Offers Guidance

Caleres (NYSE: CAL) reported Q1 EPS of $0.41, $0.02 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $584.7 million versus the consensus estimate of $610.58 million.

Famous Footwear comps rose 1 percent.

Brand Portfolio

• Sales down 9.1%, reflecting a planned reduction in Healthy Living sales
• Gross margin up 279 basis points to 35.9%, benefitting from the exit of some lower margin categories
• Opened four Sam Edelman retail stores and invested in the development of the Diane von Furstenberg and George Brown brands
• Inventory down 4.1%, on solid inventory management

GUIDANCE:

Caleres sees FY2016 EPS of $2.00-$2.10, versus the consensus of $2.09. Caleres sees FY2016 revenue of $2.60-2.63 billion, versus the consensus of $2.66 billion.

For earnings history and earnings-related data on Caleres (CAL) click here.

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