Footwear Company Caleres Issues 2026 Financial Targets Ahead Of Investor Day Event
Portfolio Pulse from Shivani Kumaresan
Footwear company Caleres Inc (NYSE:CAL) has issued its three-year strategic and financial plan ahead of its Investor Day on Oct. 5. The company expects double-digit operating margin in 2023 and beyond, with about 50% of revenue to be derived from the Brand Portfolio segment by 2026. Caleres expects net sales to grow at a three-year CAGR of 3% - 5% and diluted adjusted EPS to increase at a three-year CAGR of 11% - 13% to reach $6.00 at the mid-point of the range. However, due to challenging consumer demand in September, Caleres expects sales to be at the low-end of the range for both the third quarter and fiscal year 2023.
October 05, 2023 | 3:47 pm
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Caleres Inc has issued its three-year strategic and financial plan, expecting double-digit operating margin in 2023 and beyond, and net sales to grow at a CAGR of 3% - 5%. However, due to challenging consumer demand, sales are expected to be at the low-end of the range for Q3 and FY23.
The company's announcement of its three-year strategic and financial plan is directly relevant to its stock. The expectation of double-digit operating margin and net sales growth are positive indicators that could drive the stock price up. However, the challenging consumer demand and expected lower sales for Q3 and FY23 could potentially limit the stock's growth.
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