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Caleres (CAL) Queued for Q2 Earnings: Things to Keep in Mind

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Caleres, Inc. (CAL - Free Report) is likely to register top-and bottom-line growth when it reports second-quarter 2021 numbers on Aug 31. The Zacks Consensus Estimate for second-quarter revenues is pegged at $646.9 million, which suggests an increase of 29% from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for quarterly earnings has remained unchanged at 55 cents per share in the past 30 days. The projection shows an improvement from a loss of 57 cent per share reported in the year-ago quarter. The footwear retailer and wholesaler’s bottom line has outperformed the Zacks Consensus Estimate by a significant margin in the trailing four quarters, on average.

Caleres, Inc. Price and EPS Surprise

 

Caleres, Inc. Price and EPS Surprise

Caleres, Inc. price-eps-surprise | Caleres, Inc. Quote

 

Things to Note

Caleres is benefiting from strength in Famous Footwear business backed by solid demand, improving consumer confidence as well as better in-store traffic trends. The company has been maximizing its momentum at Famous Footwear business with focus on merchandising marketing and enhancing consumers’ experience. Caleres’ solid omni-channel capabilities have been driving growth.

In its last earnings call, management highlighted that it expects second-quarter sales in the range of $625-$650 million. The metric is likely to have gained from removal of some government restrictions, better consumer trends as well as sales related to government stimulus actions. The company envisions adjusted earnings of 50-55 cents per share in the to-be-reported quarter.

What the Zacks Model Unveils

Our proven model doesn’t conclusively predict an earnings beat for Caleres this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Caleres currently carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.

Stocks With Favorable Combinations

Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat in the to-be-reported quarter.

lululemon athletica inc. (LULU - Free Report) currently has an Earnings ESP of +3.06% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

American Eagle Outfitters, Inc. (AEO - Free Report) currently has an Earnings ESP of +1.44% and a Zacks Rank of 3.

Costco Wholesale Corporation (COST - Free Report) currently has an Earnings ESP of +0.44% and a Zacks Rank of 3.

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