Newspaper article St Louis Post-Dispatch (MO)

Caleres' 2Q Profit Misses Analysts' Forecasts

Newspaper article St Louis Post-Dispatch (MO)

Caleres' 2Q Profit Misses Analysts' Forecasts

Article excerpt

Footwear retailer Caleres increased its profit in the second quarter but missed analysts' forecasts.

Caleres reported a $19.8 million profit for the period that ended July 30, or 46 cents a share, up from $16.8 million, or 38 cents a share, a year earlier. Analysts expected second quarter earnings per share of 50 cents, according to Thomson Reuters I/B/E/S.

Sluggish retail traffic cut into revenue at the footwear wholesaler and retailer, whose brands include Naturalizer, Franco Sarto and Sam Edelman. Same-store sales were down 1.1 percent.

The Clayton-based company formerly known as Brown Shoe Co. posted a 2.3 percent decline in net sales for the second quarter, to $622.3 million.

"Our second quarter results show the benefit of good execution during a challenging environment, as we improved gross margin, maintained SG&A spend (selling, general and administrative spending), and continued to invest for long-term growth," CEO Diane Sullivan said in a statement. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.