Caleres Reiterates FY23 Adj EPS Outlook Of $4.10 - $4.30 Vs. $4.17 Estimate, Cuts Revenue Outlook To $2.82B-$2.88B (Down From Prior $2.97B-$3.03B) Vs. $2.98B Estimate
Portfolio Pulse from Benzinga Newsdesk
Caleres has reiterated its FY23 adjusted EPS guidance of $4.10-$4.30, lower than the $4.57 estimate, and reduced its net sales forecast to $2.82B-$2.88B from the previous $2.97B-$3.03B. The company expects Q2 net sales of $701.4M-$708.8M and adjusted EPS of $0.87-$0.92, both below estimates.
June 01, 2023 | 11:25 am
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Caleres has lowered its FY23 EPS and net sales guidance, and expects lower Q2 net sales and adjusted EPS than estimates.
Caleres has lowered its financial guidance for FY23 and Q2, which is likely to negatively impact investor sentiment and the stock price in the short term. The lowered guidance indicates that the company's performance may not meet market expectations, leading to potential selling pressure on the stock.
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