2024

Strong

Million

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Caleres (NYSE: CAL), a leading portfolio of global footwear brands, has recently disclosed its financial outcomes for the <a href="https://investor.caleres.com/news/news-details/2024/Caleres-Reports-Fourth-Quarter-and-Full-Year-2023-Results/default.aspx" target="_blank" aria-label="fourth quarter and the entire fiscal year of 2023 (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">fourth quarter and the entire fiscal year of 2023</a>, offering insights into its performance and future expectations. </p> 
<h3 id="caleres-reports-0-86-adjusted-eps-for-fiscal-q4">Caleres Reports $0.86 Adjusted EPS for Fiscal Q4</h3> 
<p>Caleres has demonstrated a commendable performance in the fourth quarter of fiscal 2023, with its earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) reaching $1.57 and adjusted EPS at $0.86, reflecting a significant 32% increase year over year. <br><br>This growth has been driven by robust sales and a record-setting adjusted operating income within its Brand Portfolio segment, encompassing leading brands such as Sam Edelman, Allen Edmonds, Naturalizer, and Vionic. <br><br>The quarter also saw a strategic reduction in revolver borrowings, enhancing the company’s financial health. Notably, the Brand Portfolio segment outshone with a 4.5-percent increase in net sales and a remarkable 660-basis-point improvement in gross margin, establishing a new benchmark for annual adjusted operating earnings at over $148 million.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="caleres-outperforms-eps-and-revenue-expectations-in-q4-reports-net-sales-of-697-1-million">Caleres Outperforms EPS and Revenue Expectations in Q4, Reports Net Sales of $697.1 Million</h3> 
<p>Caleres’ fourth-quarter results have not only met but exceeded the market expectations. Analysts had projected an EPS of $0.85 and revenue of $691.92 million, positioning the actual adjusted earnings per share of $0.86 as a favorable outcome. <br><br>Although the net sales of $697.1 million in the fourth quarter presented modest growth, the company’s ability to surpass earnings expectations amidst challenging market conditions signifies solid operational efficiency and a focused growth strategy. <br><br>The Brand Portfolio’s exceptional performance and Famous Footwear’s resilience in expanding market share, especially in the Kids category, have been pivotal in driving this success.</p> 
<h3 id="caleres-expects-net-sales-to-remain-flat-or-increase-2-in-fiscal-2024">Caleres Expects Net Sales to Remain Flat or Increase 2% in Fiscal 2024</h3> 
<p>Looking ahead, Caleres is setting a cautious yet optimistic tone for fiscal 2024, with anticipated net sales to range from flat to a 2 percent increase compared to fiscal 2023. <br><br>The company forecasts earnings per share in the range of $4.30 to $4.60, mindful of the potential market volatility, inflationary pressures, and higher freight costs that could impact the footwear industry. <br><br>However, with a consolidated operating margin expected to be between 7.3 percent and 7.5 percent and capital expenditures projected at $60 million to $70 million, Caleres demonstrates confidence in its strategic direction and operational resilience.</p> 
<p>Caleres has capped off fiscal 2023 on a strong note, with its strategic focus on brand portfolio optimization and cost management yielding impressive financial results. </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/caleres-cal-ends-fiscal-2023-with-strong-earnings-growth-sets-optimistic-outlook-for-2024/">Caleres (CAL) Ends Fiscal 2023 with Strong Earnings Growth, Sets Optimistic Outlook for 2024</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Caleres (CAL) Ends Fiscal 2023 with Strong Earnings Growth, Sets Optimistic Outlook for 2024

Table of Contents

Tokenist

Other articles published on Mar 19, 2024

Why is Ethereum (ETH) price down today?

Move over Madoff, Evergrande might have delivered the new king of fraud

Is a Second Wave for Dog Cryptos on the Horizon? Tracking This Week’s Performance of Dogecoin, Sh...

Book Of Meme Price Prediction: BOME Plunges 41% As Meme Coin Mania Stalls, Yet This New DOGE ICO ...

GRVT Announces Strategic Fundraise and Launches Private Beta Following Growing Market Interest

Explore the Multitude: Discover HLX Token’s Diverse Benefits!

Join our free newsletter for daily crypto updates!