Caleres (CAL) Misses Q2 EPS by 21c, Beats on Revenue

Caleres (NYSE: CAL) reported Q2 EPS of $0.35, $0.21 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $658.5 million versus the consensus estimate of $656.94 million.

Given the uncertainty in the environment, the company will continue to suspend annual guidance. For the month of August, Famous Footwear same-store comparable sales were up 1% and Brand Portfolio sales excluding Stuart Weitzman were up low-single digits. We expect ongoing gross margin pressure in Brand Portfolio from tariffs for the balance of the year. We anticipate third quarter Brand Portfolio gross margin, excluding Stuart Weitzman, to be down similar to second quarter, with improvement in the fourth quarter as we realize more of the benefit from our mitigation strategies.

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

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