Sales Performance - Reported sales of $740.9 million, down 2.8% year-on-year[3] - Famous Footwear sales declined 4.8%, with comparable store sales up 2.5%[3] - Brand Portfolio sales increased 0.7% compared to the third quarter of 2023[3] - Consolidated net sales for the thirteen weeks ended November 2, 2024, were $740,941 thousand, down from $761,904 thousand for the same period in 2023, a decline of 2.7%[25] - Net sales for the Famous Footwear segment were $1,198,105 thousand for the thirteen weeks ended November 2, 2024, compared to $1,213,169 thousand for the same period in 2023, reflecting a decrease of 1.2%[28] - The company experienced a comparable sales decline of 0.9% in company-operated stores for the thirty-nine weeks ended November 2, 2024, compared to a 3.5% increase for the same period in 2023[28] Earnings and Profitability - Reported earnings per diluted share of $1.19, down from $1.32 in Q3 2023[6] - Adjusted earnings per diluted share of $1.23, down from $1.37 in Q3 2023[7] - Fiscal 2024 earnings per diluted share guidance revised to $3.35 to $3.45[10] - Adjusted diluted earnings per share for the thirteen weeks ended November 2, 2024, were $1.23, down from $1.37 in the same period last year, a decrease of 10.2%[23] - Basic earnings per share attributable to Caleres, Inc. shareholders were $1.20 for the thirteen weeks ended November 2, 2024, down from $1.32 for the same period in 2023, a decline of 9.1%[31] - Adjusted operating earnings for the Famous segment were $29,568 thousand, down from $46,600 thousand in the prior year, a decrease of 36.6%[25] - Adjusted operating earnings for the consolidated results were $143,579 thousand for the thirty-nine weeks ended November 2, 2024, down from $167,659 thousand for the same period in 2023, representing a decline of 14.4%[29] - The gross profit margin for the consolidated results was 45.5% for the thirteen weeks ended November 2, 2024, compared to 45.1% for the same period in 2023, indicating an improvement of 0.4 percentage points[28] - The gross profit for the consolidated results was $946,934 thousand for the thirteen weeks ended November 2, 2024, compared to $957,229 thousand for the same period in 2023, a decrease of 1.1%[28] Financial Position - Total assets increased to $1,955,939 thousand as of November 2, 2024, up from $1,826,893 thousand on October 28, 2023, representing a growth of 7.1%[19] - Total current liabilities decreased to $806,430 thousand from $827,921 thousand, a reduction of 2.0%[19] - Cash and cash equivalents at the end of the period were $33,685 thousand, slightly down from $34,031 thousand at the end of the previous period[21] - Borrowings under revolving credit agreements increased to $238,500 thousand from $222,000 thousand, an increase of 7.5%[19] - Total equity increased to $606,306 thousand from $520,172 thousand, reflecting a growth of 16.5%[19] - Total liquidity, including cash and cash equivalents and availability under the revolving credit agreement, was $285.8 million as of November 2, 2024, down from $301.4 million as of October 28, 2023[37] Cash Flow - Net cash provided by operating activities for the thirty-nine weeks ended November 2, 2024, was $75,855 thousand, compared to $157,183 thousand for the same period in the previous year, a decrease of 51.8%[21] Guidance and Outlook - Fiscal 2024 outlook revised to net sales down 2.5% to 3%[3] - Caleres, Inc. provided guidance for fiscal 2024, projecting GAAP diluted earnings per share to be between $3.35 and $3.45, with adjusted diluted earnings per share expected to be between $3.45 and $3.55[39] Other Financial Metrics - The EBITDA for the thirteen weeks ended November 2, 2024, was $71,404 thousand, resulting in an EBITDA margin of 9.6%, compared to $78,826 thousand and an EBITDA margin of 10.3% for the same period last year[37] - Adjusted EBITDA for the same period was $72,997 thousand, with an adjusted EBITDA margin of 9.9%, down from $81,130 thousand and 10.6% in the prior year[37] - The debt/EBITDA leverage ratio improved to 1.0 as of November 2, 2024, compared to 0.9 as of October 28, 2023[37]

Core Viewpoint - Caleres Inc. is anticipated to report a year-over-year decline in earnings due to lower revenues, which could significantly influence its near-term stock price depending on how actual results compare to consensus estimates [1][2]. Earnings Expectations - The upcoming earnings report is scheduled for December 5, 2024, with an expected quarterly earnings of $1.34 per share, reflecting a year-over-year decrease of 2.2% [3][4]. - Revenues are projected to be $756.83 million, down 0.7% from the same quarter last year [4]. Estimate Revisions - The consensus EPS estimate has been revised 1.06% higher in the last 30 days, indicating a collective reassessment by analysts [5]. - The Most Accurate Estimate for Caleres Inc. is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.12%, suggesting a bearish outlook from analysts [11][12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with a strong predictive power for positive readings [8][9]. - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have historically produced positive surprises nearly 70% of the time [9]. Historical Performance - In the last reported quarter, Caleres Inc. was expected to post earnings of $1.21 per share but only achieved $0.85, resulting in a surprise of -29.75% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates twice [14]. Conclusion - Caleres Inc. does not appear to be a compelling candidate for an earnings beat, and investors should consider other factors when making decisions regarding this stock ahead of its earnings release [17].

Core Viewpoint - Crédit Agricole Leasing & Factoring (CAL&F) is acquiring Merca Leasing to enhance its presence in the German leasing market, aligning with its European development strategy [1][2][4]. Company Overview - Merca Leasing, founded in 1989, is one of the top ten independent leasing companies in Germany, focusing on SMEs and offering tailored leasing solutions, particularly in financing industrial equipment [3][10]. - Merca Leasing manages leasing assets with an acquisition cost of approximately €750 million in outstanding receivables [3]. Strategic Importance - The acquisition is part of CAL&F's strategy to expand its offerings in the dynamic German leasing market, where 75% of companies include leasing solutions in their investment plans [4]. - By integrating Merca Leasing's expertise, CAL&F aims to broaden its service offerings, particularly in Mobility, IT, and Machine-Tools, while strengthening its position in the Direct Sales channel [5][7]. Transaction Details - The Share Purchase Agreement was signed on October 30, 2024, and is subject to regulatory approvals from German BaFin and the German Competition Authority, with completion expected in early 2025 [6]. - The impact of the transaction on Crédit Agricole S.A.'s CET1 ratio is not significant [6]. Leadership and Management - Merca Leasing's CEO, Ulrich Helmdach, will continue in his role post-acquisition, ensuring continuity for employees, clients, and partners [8]. - The acquisition is seen as a way to strengthen Merca's growth ambitions with the support of the Crédit Agricole Group [8]. Market Context - CAL&F has been active in the German factoring market for over 30 years and began its leasing activities in 2020, indicating a long-term commitment to the region [4]. - The German leasing market is characterized as very dynamic, with leasing viewed as an enabler for innovation among SMEs [4].

Group 1 - Pomerantz LLP is investigating claims on behalf of investors of Caleres, Inc. regarding potential securities fraud or unlawful business practices by the company and its officers or directors [1] - On September 12, 2024, Caleres reported second-quarter financial results, with sales of $683.3 million, a decline of 1.8% year-on-year, and missed analyst expectations [1] - Following the financial report, Caleres lowered its guidance for fiscal year 2024 [1] Group 2 - As a result of the negative financial news, Caleres's stock price fell by $7.02 per share, or 18.85%, closing at $30.23 per share on September 12, 2024 [2]

NEW YORK, Sept. 15, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Caleres, Inc. ("Caleres" or "the Company") (NYSE: CAL). Investors who purchased Caleres securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/CAL. Investigation Details On September 12, 2024, Caleres reported its second quarter of 2024 and that its sales were below analyst e ...

sommaiphoto Caleres (NYSE:CAL) reported 2Q24 figures that disappointed the market significantly, with the stock falling 19% on the day after the release. The stock is now down 32% from its peak a few weeks ago at $44. The company's results were disappointing because it had guided for a positive revenue year, but Q2 results were bad enough that the company had to change guidance to a low single-digit down year instead. The company's sales were negative 5% on its branded segment and down close to 3% on a comp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended August 3, 2024 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____________ to _____________ Commission file number: 1-2191 CALERES, INC. (Exact name of registrant as specified in its charter) New York 43- ...

Caleres, Inc. (NYSE:CAL) Q2 2024 Earnings Conference Call September 12, 2024 10:00 AM ET Company Participants Liz Dunn - SVP, Corporate Development & Strategic Communications Jay Schmidt - President & CEO Jack Calandra - SVP & CFO Conference Call Participants Laura Champine - Loop Capital Markets Mitch Kummetz - Seaport Global Securities Josh Herrity - Telsey Advisory Group Chandana Madaka - KeyBanc Capital Markets Operator Good morning, and welcome to the Caleres Second Quarter 2024 Earnings Call. My name ...

LOS ANGELES, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Caleres, Inc. ("Caleres" or "the Company") (NYSE: CAL) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Caleres reported its second quarter 2024 on September 12, 2024. The Company repor ...

Key Takeaways Caleres, the parent of discount shoe retailer Famous Footwear, said weak demand, a later back-to-school period, and challenges with its resource planning system hurt second-quarter results. The footwear company missed quarterly profit and sales estimates, and cut its full-year outlook. The news sent Caleres shares into negative territory for 2024. Caleres (CAL) shares plunged Thursday when the footwear company significantly missed estimates and slashed its outlook on soft demand, a later back- ...