Caleres Boosts FY22 Outlook

(RTTNews) - While reporting preliminary results for the fourth quarter on Wednesday, footwear brand Caleres Inc. (CAL) raised its adjusted earnings and sales growth guidance for the full-year 2022, based on a stronger-than-anticipated holiday performance and continued robust demand for its lead brands.

For fiscal 2022, the company now projects adjusted earnings in a range of $4.50 to $4.52 per share on consolidated sales of about $2.97 billion, up 7 percent from last year.

Previously, the company expected adjusted earnings in the range of $4.30 to $4.40 per share on consolidated sales growth of 4 to 6 percent.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $4.35 per share on sales of $2.95 billion for the year. Analysts' estimates typically exclude special items.

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