Caleres Profit Tops Estimates, Sales Misses; Reaffirms FY Guidance

(RTTNews) - Footwear retailer Caleres Inc (CAL) on Thursday reported second-quarter net earnings of $16.3 million or $0.38 per share compared with $17.4 million or $0.41 per share last year.

Results were hurt by a debt-related loss of $8.7 million.

Excluding items, adjusted earnings for the quarter were $0.50 per share compared with $0.41 per share a year ago.

Revenues for the quarter were up at $637.8 million compared with $635.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.44 per share on revenues of $647.2 million for the quarter. Analysts' estimates typically exclude special items.

Gross margin rose to 41.2% from 40.8% last year, and operating margin grew to 5.6% from 4.9%.

For the full year 2015, the company still expects adjusted earnings of $1.84 to $1.94 per share on revenues of $2.61 billion to $2.63 billion. Analysts expect earnings of $1.95 per share on revenues of $2.63 billion.

The company has declared a quarterly dividend of $0.07 per share.