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CAL

Caleres

$33.29

-0.79 (-2.32%)

16:32
10/18/18
10/18
16:32
10/18/18
16:32

Caleres acquires Vionic for $360M

Caleres announced it has acquired Vionic Group for $360M, subject to certain adjustments. The acquisition of Vionic allows Caleres to continue to expand its Brand Portfolio and gives it additional access to the growing contemporary comfort footwear category. Vionic trailing 12-month sales of approximately $180M reflect a compounded annual growth rate of more than 20% over the past six years. The brand derived approximately 25% of sales via ecommerce sites over the past 12 months, while international sales contributed approximately 8% to total sales. The acquisition of Vionic Group is being funded through the company's revolving credit agreement.

CAL Caleres
$33.29

-0.79 (-2.32%)

09/05/18
WEDB
09/05/18
NO CHANGE
Target $42
WEDB
Outperform
Caleres should be bought on any weakness, says Wedbush
Wedbush analyst Christopher Svezia believes that Caleres' strong, consistent performance with opportunity in the 2H18 was overshadowed by elevated expectations heading into quarterly results. The analyst believes Caleres is a story about consistent sales and profit improvement without extreme volatility in performance. Even with the added fulfillment expenses, the company was able to deliver 1H18 EPS growth at the high-end of its annual outlook of 11%-16%, he contends. Svezia would use any weakness as a buying opportunity and reiterates an Outperform rating and $42 price target on the shares.
09/04/18
LOOP
09/04/18
NO CHANGE
Target $37
LOOP
Hold
Caleres has to accelerate sales growth for more bullish view, says Loop Capital
Loop Capital analyst Laura Champine kept her Hold rating and $37 price target on Caleres after its Q2 earnings miss this evening, saying that while the company's growth prospects include Sam Edelman and Allen Edmonds brands, store closures this year should keep FY18 sales flat. The analyst raises her FY19 EPS view to $2.49 from $2.46 to reflect the company's expense reductions as it "streamlines its distribution and corporate facilities", but states that a clear evidence of accelerated sales growth is needed for her to become more constructive on the stock.
06/22/18
NEED
06/22/18
INITIATION
NEED
Hold
Caleres initiated with a Hold at Needham
Needham analyst Rick Patel initiated Caleres (CAL) with a Hold rating, saying that while the company's Famous Footwear concept has the strategic initiatives that can support sales growth, progress will be tempered by store closures. In the Brand Portfolio segment, the analyst notes the company has the opportunity to grow its underpenetrated brands such as Sam Edelman and Allen Edmonds. Patel warns that Caleres is faced with the risk of intensifying competition as DSW (DSW) looks to invest in kids business.
06/07/18
LOOP
06/07/18
INITIATION
LOOP
Hold
Caleres initiated with a Hold at Loop Capital
Loop Capital analyst Laura Champine initiated Caleres with a Hold rating and $37 price target, with the analyst saying the firm is "basically in-line with consensus." She added that though the FCF yield of 8% is attractive, she is looking for accelerated sales growth before becoming constructive on shares of Caleres.

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