Caleres Inc. (CAL), a footwear company, on Thursday initiated guidance for the second quarter and has revised up its annual outlook, citing its robust first-quarter earnings performance.
Jay Schmidt, CEO of Caleres, said: "We continue to expect modest sales growth and meaningful earnings growth in 2026. Our Brand Portfolio momentum has strengthened, with profitability supported by favorable mix, successful tariff mitigation actions, and disciplined execution."
For the second quarter of fiscal 2026, the company expects net earnings per share of $0.32 to $0.38, with mid-to-high single-digits net sales growth. For the second quarter of fiscal 2025, Caleres had recorded a net income of $0.20 per share, on net sales of $658.519 million.
For fiscal 2026, the footwear maker now anticipates net profit of $1.44 to $1.69 per share, against the earlier guidance of $1.31 to $1.61 per share. Caleres now projects adjusted earnings of $1.40 to $1.65 per share, compared with the prior outlook of $1.35 to $1.65 per share.
The company still expects annual net sales growth in low to mid-single digits.
For fiscal 2025, Caleres had posted a net loss of $0.21 per share, with adjusted income of $0.61 per share, on net sales of $2.8 billion.
CAL was up by 7.50% at $15.20 in the pre-market trade on the New York Stock Exchange.
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