CALERES Reports Second Quarter Fiscal Year 2024 Earnings with $695.5M in Total Revenue, 5.8% Decrease from Previous Year
September 6, 2023
🌥️Earnings Overview
CALERES ($NYSE:CAL) reported a total revenue of USD 695.5 million for the second quarter of fiscal year 2024, ending July 31 2023, which was a decrease of 5.8% from the same period the previous year. Net income was also down significantly, 33.7%, to USD 33.9 million.
Analysis
GoodWhale has conducted a fundamental analysis of CALERES and found that they have a strong asset base, good dividend yields, and high profitability. However, they are weak in growth compared to their peers. Because of this, we classify CALERES as a “cow”, a type of company that has the track record of paying out consistent and sustainable dividends. Investors who are looking for a reliable and consistent income stream may find CALERES to be an attractive option. Furthermore, CALERES has a high health score of 8/10, indicating that they are well-equipped to weather any economic storms without the risk of bankruptcy due to their healthy cashflows and low debt levels. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Caleres. 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. 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. 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. 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 reported a 5.8% decrease in total revenue and a 33.7% decrease in net income in the second quarter of their fiscal year 2024, compared to the same period in the prior year. Despite this, the stock price increased on the same day due to investors’ expectation of future growth. Analysts suggest that investors look for ways to capitalize on CALERES’ potential, given that they are still a major footwear retailer despite the recent earnings report. It is important to remain mindful of the market volatility and to invest wisely in CALERES’ long-term potential.
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