Caleres reports Q1 EPS 88c, consensus 91c

Reports Q1 revenue $659.2M, consensus $665.45M. “Caleres began 2024 in strong fashion, achieving EPS ahead of expectations, generating record Q1 consolidated gross margin, and making significant progress on our key strategic initiatives, all while investing for the long-term,” said CEO Jay Schmidt. “While the consumer demand environment remained challenging, we achieved growth in sales and profitability from our Lead Brands and strong margin performance across the Brand Portfolio…Looking ahead, we are confident in our ability to deliver earnings per share in line with our guidance range in 2024,” said Schmidt. “Longer-term, we believe we are exceptionally well positioned to execute our clear and actionable strategic plan, invest to fuel our growth initiatives, and drive sustained value for our shareholders.”