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US footwear firm Caleres forecasts EPS of $4.10-$4.30 for FY23

08 Sep '23

1 min read

Pic: Caleres

Insights

Caleres forecasts FY23 earnings per share at $4.02-$4.22, factoring in $4 million restructuring costs, and eyes a 3-5 per cent drop in net sales.
It also adjusted its projected capital expenditures to $50m-$60 million, down from $55m-$65 million.
For Q3 FY23, the company anticipates a slight dip in net sales and an EPS between $1.25 and $1.35.

American footwear company Caleres expects earnings per share to be between $4.02 and $4.22 in fiscal 2023 (FY23). This estimate encompasses the repercussions of $4 million of restructuring charges tied to actions aimed at reducing expenses. Furthermore, Caleres is setting the adjusted diluted EPS guidance at a range of $4.10 to $4.30, with the consolidated net sales expected to decline by 3 to 5 per cent.

The company maintains a positive outlook for its operating margin. Caleres is expecting to achieve a consolidated operating margin within the range of 7.3 to 7.5 per cent in FY23. Along with this, there is a revision in the forecast capital expenditures for the fiscal, now being set at $50 million to $60 million, a reduction from the previous estimation that varied from $55 million to $65 million, the company said in a media release.

Shifting focus to the outlook for the third quarter (Q3) of FY23, Caleres is anticipating a low-single-digit decline in the consolidated net sales. Moreover, the diluted EPS is expected to be within $1.25 to $1.30, and the adjusted diluted EPS is forecast to lie between $1.30 and $1.35.

Fibre2Fashion News Desk (DP)

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