The company maintains a positive outlook for its operating margin. Caleres is expecting to achieve a consolidated operating margin within the range of 7.3 to 7.5 per cent in FY23. Along with this, there is a revision in the forecast capital expenditures for the fiscal, now being set at $50 million to $60 million, a reduction from the previous estimation that varied from $55 million to $65 million, the company said in a media release.
Shifting focus to the outlook for the third quarter (Q3) of FY23, Caleres is anticipating a low-single-digit decline in the consolidated net sales. Moreover, the diluted EPS is expected to be within $1.25 to $1.30, and the adjusted diluted EPS is forecast to lie between $1.30 and $1.35.
ALCHEMPro News Desk (DP)
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