Despite the predicted downturn in sales, Caleres forecasts a stable range for its earnings per share. The company expects diluted earnings per share to be between $3.96 and $4.06. Furthermore, Caleres also projects its adjusted diluted earnings per share to be slightly higher, ranging from $4.10 to $4.20, the company said in a press release.
“Caleres continues to expect full year 2023 adjusted earnings of $4.10 to $4.20 per share, which would mark the third consecutive year with earnings per share in excess of our $4.00 baseline,” said Jay Schmidt, president and chief executive officer. “Our ability to deliver results ahead of expectations throughout the year and to maintain our earnings outlook, despite a challenging demand environment, underscores yet again the powerful transformation we’ve achieved in the earnings profile of the organisation.”
ALCHEMPro News Desk (DP)
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