American footwear company Caleres (NYSE:CAL) will be announcing earnings results tomorrow morning. Here's what you need to know.
Last quarter Caleres reported revenues of $761.9 million, down 4.6% year on year, missing analyst expectations by 1.1%. It was a mixed quarter for the company, with a decent beat of analysts' earnings estimates but a miss of analysts' revenue estimates.
Is Caleres buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Caleres's revenue to decline 0.3% year on year to $694.3 million, a deceleration on the 2.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.85 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Caleres's peers in the apparel, accessories and luxury goods segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Tapestry (NYSE:TPR) delivered top-line growth of 2.9% year on year, beating analyst estimates by 1.4% and Carter's (NYSE:CRI) reported revenue decline of 5.9% year on year, missing analyst estimates by 1.3%. Tapestry traded up 2.6% on the results, Carter's was up 1.8%.
Read the full analysis of Tapestry's and Carter's's results on StockStory.
Investors in the apparel, accessories and luxury goods segment have had steady hands going into the earnings, with the stocks down on average 1.1% over the last month. Caleres is up 4.3% during the same time, and is heading into the earnings with analyst price target of $38.8, compared to share price of $38.5.
