Caleres Expects FY23 Adjusted EPS of $4.10-$4.20 (Prior View: $4.10-$4.30) Vs $4.19 Estimate, Expects Consolidated Net sales To Be Down 4.5% to 5.5%
Portfolio Pulse from Benzinga Newsdesk
Caleres has updated its FY23 adjusted EPS guidance to $4.10-$4.20, slightly narrowing the range from the previous $4.10-$4.30. This new guidance is in line with the $4.19 consensus estimate. Additionally, the company expects its consolidated net sales to decrease by 4.5% to 5.5%.

November 21, 2023 | 11:58 am
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Caleres has revised its FY23 earnings guidance, tightening the range and aligning it with analyst estimates, but also forecasts a decline in net sales.
The updated EPS guidance from Caleres is closely aligned with analyst estimates, which may not significantly impact the stock price as it does not represent a major deviation from expectations. However, the projected decline in net sales could be a concern for investors, potentially offsetting any positive sentiment from the EPS alignment. The net effect could be neutral in the short term, as the market absorbs both the positive and negative aspects of the guidance.
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