CALERES Reports Decrease of 5.8% in Total Revenue for Second Quarter of FY2024
September 3, 2023
🌥️Earnings Overview
CALERES ($NYSE:CAL) reported total revenue of USD 695.5 million for the second quarter of FY2024 ending July 31 2023, a decrease of 5.8% compared to the same period in the previous year. Net income was USD 33.9 million, a decrease of 33.7% year over year, and the report was released on August 31 2023.
Analysis
GoodWhale has conducted an analysis of CALERES‘s financials, and based on the results, CALERES is considered to be a medium risk investment in terms of financial and business aspects. GoodWhale has detected one risk warning in the income sheet, so those interested in learning more should register on goodwhale.com to check it out. With the amount of information available, GoodWhale is able to give an in-depth assessment of any company, giving investors a comprehensive picture of potential risks and rewards. Furthermore, the automated risk rating system allows investors to quickly identify and compare the risk profile of different companies. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Caleres. CALERES_Reports_Decrease_of_5.8_in_Total_Revenue_for_Second_Quarter_of_FY2024″>More…
| Total Revenues | Net Income | Net Margin |
| 2.85k | 142.24 | 5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Caleres. CALERES_Reports_Decrease_of_5.8_in_Total_Revenue_for_Second_Quarter_of_FY2024″>More…
| Operations | Investing | Financing |
| 223.8 | -60.19 | -162.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Caleres. CALERES_Reports_Decrease_of_5.8_in_Total_Revenue_for_Second_Quarter_of_FY2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.9k | 1.43k | 12.82 |
Key Ratios Snapshot
Some of the financial key ratios for Caleres are shown below. CALERES_Reports_Decrease_of_5.8_in_Total_Revenue_for_Second_Quarter_of_FY2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.1% | 22.4% | 6.6% |
| FCF Margin | ROE | ROA |
| 5.7% | 25.8% | 6.2% |
Peers
Its main competitors are Deckers Outdoor Corp, adidas AG, and Sreeleathers Ltd. Caleres Inc has a strong presence in the US market and is expanding rapidly in Europe and Asia. The company has a diversified product portfolio and a strong brand portfolio. Caleres Inc is a publicly traded company on the New York Stock Exchange.
– Deckers Outdoor Corp ($NYSE:DECK)
Deckers Outdoor Corporation is an American footwear company based in Goleta, California. The company operates in two segments: Direct-to-Consumer and Wholesale. It designs, markets, and distributes footwear, apparel, and accessories for men, women, and children under the UGG, Koolaburra, Hoka One One, Teva, and Sanuk brands. Direct-to-Consumer revenue represents sales made through the Company’s own e-commerce platforms and retail stores.
The company has a market capitalization of 9.23 billion as of 2022 and a return on equity of 23.34%. Deckers Outdoor Corporation designs, markets, and distributes footwear, apparel, and accessories for men, women, and children under the UGG, Koolaburra, Hoka One One, Teva, and Sanuk brands. The company operates in two segments: Direct-to-Consumer and Wholesale. Direct-to-Consumer revenue represents sales made through the Company’s own e-commerce platforms and retail stores.
– adidas AG ($OTCPK:ADDDF)
adidas AG is a German multinational corporation that designs and manufactures sports shoes, clothing and accessories. The company is headquartered in Herzogenaurach, Bavaria, and employs more than 60,000 people in over 160 countries.
adidas AG has a market capitalization of 20.83 billion as of 2022. The company’s return on equity is 16.07%. adidas AG designs, manufactures and markets sports footwear, apparel and accessories. The company sells its products through retail stores, online stores and independent distributors.
– Sreeleathers Ltd ($BSE:535601)
Sreeleathers Ltd is a publicly traded company with a market capitalization of 4.94 billion as of 2022. The company has a return on equity of 5.38%. Sreeleathers is engaged in the business of marketing and retailing of leather footwear and accessories. The company has a network of over 300 stores across India.
Summary
CALERES recently reported their financial results for the second quarter of FY2024, ended July 31 2023. Total revenue was USD 695.5 million, a 5.8% decrease compared to the same period in the previous year. Net income was USD 33.9 million, a 33.7% decrease year over year. Despite this disappointing news, the stock price moved up on the same day, likely due to investors anticipating a strong recovery for the company.
Analysts have suggested that CALERES may benefit from cost cutting measures and more efficient operations, as well as further investments into growing markets. As such, investors should remain cautiously optimistic about the company’s long-term prospects.
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