Q4 2019 Caleres Inc Earnings Call

Caleres (NYSE: CAL, caleres.com) today announced it has begun a phased reopening of its Famous Footwear and branded – Allen Edmonds, Naturalizer and Sam Edelman – retail stores in a safe and systematic manner.

Moody's Investors Service (Moody's) downgraded Caleres, Inc.'s (Caleres) corporate family rating (CFR) to Ba3 from Ba2, probability of default rating (PDR) to Ba3-PD from Ba2-PD and senior unsecured notes rating to B1 from Ba3. The downgrades reflect Moody's view that the company will be unable to reduce leverage to a level that is appropriate for the Ba2 rating category in 2020 following weaker than expected 2019 earnings and as a result of the expectation for further near-term earnings declines and reduced cash flow generation.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Caleres, Inc. New York, May 18, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Caleres, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

Caleres Inc. (CAL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The global footwear company and retailer said it laid off 368 workers, including a large call center staff, at its Clayton headquarters due to the coronavirus pandemic.

Caleres Inc. (CAL) delivered earnings and revenue surprises of 70.00% and 0.98%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?

Caleres, Inc. (NYSE:CAL) stock is about to trade ex-dividend in 4 days time. Ex-dividend means that investors that...

The quarterly dividend for Caleres (NYSE: CAL, caleres.com) of $0.07 per share will be payable on April 2, 2020, to shareholders of record as of March 18, 2020.

Caleres (NYSE: CAL, caleres.com), a diverse portfolio of global footwear brands, today announced it has exercised a portion of the accordion feature on its asset-based revolving credit facility. The exercise increases the available borrowing capacity under the facility by $100 million to a total of $600 million.

Caleres (NYSE: CAL, caleres.com), a diverse portfolio of global footwear brands, today provided an update on its ongoing response to the extensive spread of COVID-19. In addition to the previous steps the Company has taken to temporarily close its branded retail stores and certain Famous Footwear stores located in highly impacted areas, Caleres has elected to close its remaining Famous Footwear locations.

Caleres Inc. today posted fourth-quarter earnings that fell short of expectations in what the firm's management has described as a challenging footwear market.For the quarter, the company posted adjusted earnings per share of 34 cents, compared with analysts' forecasts of 40 cents per share. Caleres said those results included a $0.07 dilution related to Vionic interest and amortization expense. Overall, revenues declined 3% to $698.9 million, missing Wall Street's forecast for sales of $711.1 million. Sales across the company's brand portfolio, which includes Sam Edelman, Via Spiga and Dr. Scholl’s, dropped nearly 10%. Meanwhile,  Famous Footwear, also a Caleres brand, posted sales of $369.5 million, a modest gain of 1.2%. Same-store sales for the chain were up 5.1%.Still, Diane Sullivan, CEO, president and chairman, said the company did experience a few bright spots, including robust digital growth (23% year over year), the relaunch of legacy brand Zodiac and an exclusive new partnership with Veronica Beard.“Despite a challenging footwear market that resulted in our earnings to be less than expected, Caleres made excellent progress on a range of value-creating strategic objectives during 2019,” she noted.The company also has been taking steps to tighten inventory levels, reduce capital expenditures and implement other cost-control initiatives. “Furthermore, we generated $170.8 million in cash flow from operations and put that cash to good use by investing wisely in our businesses, returning approximately $45 million to shareholders through our share repurchase program and longstanding dividend, and reducing the borrowing under our credit facility by $60 million," Sullivan added.Looking ahead, Caleres said it is proceeding with a cautious outlook in the face of growing coronavirus-related uncertainty. "In the short-term, we do anticipate disruptions related to the virus, and we are expecting headwinds between 15 cents and 20 cents per share in the first quarter of 2020," Sullivan said, noting that potential impacts on the company's full-year results are difficult to quantify at this time and that her team continues to carefully monitor the situation."We are approaching 2020 with a laser focus on managing the variables within our control and leveraging the capabilities of our operations and the investments we’ve made for the future," she said. "We are confident in the strength of our portfolio and firmly believe we have the right team and right strategy in place to manage through this dynamic marketplace." Want more?Caleres Braces for Impact as China Factories Remain Closed Amid CoronavirusAnalysts Are Bullish As Caleres Braces for Tariff ImpactsCaleres Unveils Ambitious Strategic Plan for 2022More from Footwear News * Every Aspiring Shoe Designer Should Have This Quality, According to Industry Experts * Why Caleres Inc. CEO Diane Sullivan Is FN's 2018 Person of the Year * Meet 5 of the Women Who Are Part of Caleres' Majority-Female Board

NEW YORK, NY / ACCESSWIRE / March 12, 2020 / Caleres, Inc. (NYSE:CAL) will be discussing their earnings results in their 2019 Fourth Quarter Earnings call to be held on March 12, 2020 at 4:30 PM Eastern ...

Caleres (NYSE: CAL) (caleres.com), a diverse portfolio of global footwear brands, today reported fourth quarter 2019 financial results.

Caleres, the parent company to Port Washington-based Allen Edmonds, is reducing its operations in response to the COVID-19 pandemic. This includes temporary furloughs of some employees, closing of stores and redirection of manufacturing.

One of the biggest stories of last week was how Caleres, Inc. (NYSE:CAL) shares plunged 26% in the week since its...

Firms fight to get ahead of effects from the coronavirus pandemic using cuts, furloughs and hundreds of millions of dollars in new borrowing.

Caleres (NYSE: CAL, caleres.com), a diverse portfolio of global footwear brands, today provided a business update in light of the rapidly evolving COVID-19 pandemic.

Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.

Moody's Investors Service (Moody's) downgraded Caleres, Inc.'s (Caleres) corporate family rating (CFR) to B1 from Ba3, probability of default rating (PDR) to B1-PD from Ba3-PD and senior unsecured notes rating to B2 from B1. The speculative grade liquidity rating was downgraded to SGL-3 from SGL-2 and the outlook remains negative.