Caleres Inc. (CAL) shares surged 7.77% in after-hours on Tuesday, August 31, 2021, and closed the daily trading at $26.50. In the regular trading session of Tuesday, CAL’s stock lost 1.09%. CAL shares have risen 214.85% over the last 12 months, and they have moved down 1.36% in the past week. Over the past three months, the stock has lost 10.52%, while over the past six months, it has declined 42.80%.
Let’s have a look at its recent news and developments.
CAL latest financial results announcement
On August 31, 2021, Caleres (CAL) reported its financial results for the second quarter ended July 31, 2021.
Q2 2021 financial highlights
- CAL reported net sales of 675.5 million in Q2 2021 compared to net sales of $501.5 million in Q2 2020.
- In Q2 2021, gross profit was $322.3 million compared to $182.6 million in Q2 2020.
- Selling and administrative expenses were $259.5 million in Q2 2021 compared to $201.3 million in Q2 2020.
- Net income was $37.4 million, or earnings of $0.97 per diluted share in Q2 2021, compared to a net loss of $30.7 million, or a loss of $0.83 per diluted share, in the second quarter of 2020.
FY 2021 financial outlook
- For the third quarter, the company is expecting adjusted earnings per share of between $1.10 and $1.25.
- For FY2021, Company is expecting adjusted earnings per share to be between $3.25 and $3.50.
CAL Eau De Parfum launched
On August 25, 2021, Sam Edelman, which is Caleres (CAL) brand, launched its first-ever Eau de Parfum, Signature by Sam Edelman. The fragrance is inspired by the effortless elegance, feel-good spirit and aspirational style of the Sam Edelman brand. Fragrance designer Raymond Matts partnered with Firmenich Principle Perfumer Frank Voelkl to create a scent that evokes feelings of empowerment and accomplishment, akin to the confident feeling of stepping out in a great pair of heels.
CAL dividend declaration
On August 25, 2021, the Caleres (CAL) Board of Directors declared a regular quarterly cash dividend of $0.07 per share to be paid on October 1, 2021, to shareholders of record as of September 10, 2021. This dividend will be the 394th consecutive quarterly dividend paid by the company.
Famous Footwear exceptional charity
On August 20, 2021, Famous Footwear reached the $4 million mark in money raised for its national charity partner, Ticket to Dream Foundation, since the partnership began last summer. This was made possible by donations from customers shopping in Famous Footwear stores throughout the U.S.
CAL new appointment
On June 3, 2021, Caleres (CAL) appointed Jennifer “Jenny” Olsen as Chief Marketing Officer (CMO). Olsen will oversee all brand marketing for Caleres including consumer analytics, media, and creativity.
Olsen was most recently the CMO of UNTUCKit, where she led the marketing and creative teams and played a significant role in the brand’s growth over the last several years.
Conclusion
CAL stock went up in the after-hours after the company announced its Q2 2021 financial results yesterday. We can expect it to continue its rally on Wednesday as well.
