“Today we reported a solid quarter, as expected, with improved sales, margins and adjusted earnings,” said Diane Sullivan, CEO, president and chairman of Caleres, in a release. “Total sales were up 2 percent, excluding Shoes.com, while gross and operating margin both expanded in the quarter. We also improved bottom-line performance by 22 percent, thanks to continued progress toward our long-term strategic initiatives.”
Net Income: Reported net earnings for the second quarter, ending Aug. 1, 2015, totaled $16.8 million and included $5.3 million of after-tax expense related to the company’s debt extinguishment.
EPS: Reported earnings per diluted share were 38 cents compared with the comparable year-ago quarter, when diluted EPS was 41 cents.
Net Revenue: Net sales in the $637.8 million, versus second-quarter 2014 net sales of $635.9 million.
Adjustments: Excluding the $5.3 million of after-tax expense, net earnings were $22.1 million, or 50 cents per diluted share, up 22.4 percent, versus second-quarter 2014 net earnings of $18.1 million, or 41 cents per diluted share.
Hit, Miss or Beat: Caleres missed Wall Street’s estimates for revenues and reported diluted EPS. Analysts polled by Yahoo Finance had predicted EPS of 44 cents and revenues of $647.2 million. It’s adjusted EPS of 50 cents per diluted share however, was 6 cents above estimates.
Looking Ahead: The company reiterated its full-year guidance.