secwatch.observer — SEC 8-K summary
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Issuer:     CALERES INC (CAL)
CIK:        0000014707
Form:       8-K
Filed at:   2024-09-12T23:59:59+00:00
Accession:  0000014707-24-000037
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Caleres Q2 EPS $0.85 below expectations; cuts FY GAAP EPS guidance to $3.94-$4.09
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- Net earnings $30.0M, EPS $0.85 (vs $0.95 prior year); sales $683.3M down 1.8% YoY.
- Famous Footwear sales +1.5% but comps -2.9%; Brand Portfolio sales -5.1% due to ERP issues and weak demand.
- Gross margin improved 30bps to 45.5%; SG&A up 100bps to 39.3% of sales.
- FY 2024 GAAP EPS guidance cut to $3.94-$4.09 (from $4.30-$4.60); sales now down low single digits.
- Restructuring actions to yield $7.5M annualized SG&A savings, $2M in FY2024; adjusted EPS guidance $4.00-$4.15 excluding $0.06 restructuring.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14707/000001470724000037/0000014707-24-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14707/000001470724000037/cal-20240912x8k.htm
  HTML page:      https://secwatch.observer/filing/0000014707-24-000037

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