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CAL

Caleres

$30.20

0.01 (0.03%)

06:18
01/22/19
01/22
06:18
01/22/19
06:18

Caleres gross margin pressure likely to persist, says Loop Capital

Loop Capital analyst Laura Champine kept her Hold rating and $30 price target on Caleres, saying the shift to e-commerce is likely to sustain the pressure on the company's gross margins in 2019. Given the near term external challenges, the analyst also lowers her FY19 EPS view to $2.45 from $2.56 that also reflect the weaker than expected holiday period sales from some of the company's wholesale partners.

CAL Caleres
$30.20

0.01 (0.03%)

11/21/18
LOOP
11/21/18
NO CHANGE
Target $30
LOOP
Hold
Caleres price target lowered to $30 from $37 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target on Caleres to $30 and kept her Hold rating after its Q3 earnings miss. The analyst notes that while the company met her forecast with a 2.8% increase in same store sales as its brand portfolio recovered, its gross margins were "hammered" given the aggressive promoting by the Famous Footwear brand, falling 60bps from last year. Champine also lowers her FY18 EPS view to $2.35 from $2.49 and FY19 view to $2.56 from $2.76.
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.

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