Caleres Q1: EPS Beat, Expense Reduction, Near-Term Pressure At Famous Footwear & More
Portfolio Pulse from Lekha Gupta
Caleres Inc reported Q1 2023 sales decline of 9.8% Y/Y to $662.7 million, missing the consensus of $699.9 million. Famous Footwear segment sales declined 9.2% Y/Y, and Brand Portfolio segment fell 11.0% Y/Y. EPS of $0.97 beat the analyst consensus of $0.93. The company expects near-term pressure to persist at Famous Footwear.
June 01, 2023 | 2:32 pm
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NEUTRAL IMPACT
Caleres Q1 2023 sales decline 9.8% Y/Y, missing consensus. EPS of $0.97 beats analyst consensus of $0.93. Near-term pressure expected at Famous Footwear.
Caleres reported a decline in sales and missed consensus, which could negatively impact the stock price. However, the EPS beat the analyst consensus, which could offset the negative impact. The near-term pressure at Famous Footwear could also create uncertainty for investors, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100