Caleres (CAL) Reports Earnings Tomorrow: What to Expect

Footwear company Caleres (NYSE:CAL) will report earnings tomorrow before market hours. Here’s what to expect.

Caleres met analysts’ revenue expectations last quarter, reporting revenue of $697.1 million, flat year over year. It was a slower quarter for the company, and earnings forecasts for the full year were disappointing.

Does the sale of Caleres affect earnings? Read our full analysis here, it’s free.

For the quarter, analysts expect Caleres’ revenue to remain flat year-over-year at $664.8 million, an improvement from the 9.8% decline reported in the same quarter last year. Adjusted earnings per share are expected to be $0.87.

Most analysts covering the company have reaffirmed their estimates over the last 30 days, suggesting they expect the company to remain on track towards earnings. Caleres has missed Wall Street revenue estimates three times over the past two years.

Looking at Caleres’ competitors in the footwear segment, some have already released first-quarter results, which gives us a hint of what to expect. Deckers reported revenue growth of 21.2% year-over-year, beating analyst expectations by 8%, and Crocs reported revenue growth of 6.2%, beating estimates of 6.1%. After the results, Deckers’ sales increased by 14.2% and Crocs also increased by 7.1%.

Read our full analysis of Deckers’ results here and Crocs’ results here.

There is a positive sentiment among investors in the footwear segment, with share prices increasing by an average of 3.2% over the past month. Meanwhile, Caleres is up 1.7% and heading toward earnings, with an average analyst price target of $44 (versus the current share price of $37.4).

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