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Caleres Q3 Profit Down, But Beats Estimates - Update

(Adds Outlook)

Caleres Inc. (CAL) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $39.246 million, or $1.08 per share. This compares with $59.622 million, or $1.54 per share, in last year's third quarter.

Excluding items, Caleres Inc. reported adjusted earnings of $41.969 million or $1.15 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $798.258 million from $784.156 million last year.

Outlook:

Looking ahead, for the fiscal 2022, the company expects adjusted income per share of $4.30 to $4.40. Five analysts, on average, polled by Thomson-Reuters estimate the firm to report EPS of $4.3 for the year. Analysts' estimates typically exclude one-time items.

For the full-year, Caleres has reaffirmed its sales outlook, with the growth range of 4 percent to 6 percent as compared to the fiscal 2021. Analysts, on average, expect the company to report sales of $2.93 billion. For the last fiscal, the firm had posted sales of $2.777 billion.

Caleres Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $39.246 Mln. vs. $59.622 Mln. last year.
-EPS (Q3): $1.08 vs. $1.54 last year.
-Analyst Estimates: $1.12
-Revenue (Q3): $798.258 Mln vs. $784.156 Mln last year.

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