In Wednesday trading, shares of Caleres Inc. (CAL, Financial) rose on the heels of the company reporting its financial results for the fourth quarter. The company posted adjusted earnings per share of 48 cents. Revenue of $702.5 million grew 9.9% from the prior-year quarter. Regardless, the company fell short of analysts' earnings estimates by four cents and revenue expectations by $6.89 million.
“Our success in 2017 is reflective of the foundational strength of our diversified portfolio of brands and is directly attributable to our ability to move to where the consumer is going," Chairman, President and CEO Diane Sullivan said.
Moreover, the gross profit reached $293.4 million and the gross margin was 41.8%, an increase of 97 basis points.
Looking ahead, for the full fiscal year,Ă‚ the company expects about $2.8 billion in revenue and adjusted earnings per share between $2.40 and $2.50. The company also plans to close 70 Famous Footwear stores and open 25 new locations.
AstroNova Inc. (ALOT, Financial) rallied more than 8% after the company reported fourth-quarter earnings per share of 25 cents on $32.7 million in revenue. The company's revenue increased 27.4% year over year, while its gross margin decreased 60 basis points to $12.6 million, or 38.7% of revenue, compared with $10.1 million, or 39.3% of revenue, in the prior-year quarter. The decrease in the gross margin reflects expenses related to the company's asset purchase and licensing agreement with Honeywell International's (HON) aerospace division.
On the other hand, Express Inc. (EXPR, Financial) lost ground after the company reported its financial results for the fourth quarter. The company posted earnings per share of 34cents on $693.8 million in revenue, which grew 2.2% from last year. The company beat analysts' earnings estimates by two cents, but fell short of revenue expectations by $6.95 million.
Further, comparable sales (including e-commerce sales) decreased 1%, compared to a 13% decrease in the same quarter of the previous year. E-commerce sales increased 20% to $203.3 million. Comparable e-commerce sales increased 17%.
Looking ahead, President and CEO David Kornberg said: “For 2018, we are focused on delivering compelling product, growing our customer base and brand awareness, and pursuing double-digit growth in our e-commerce business. In addition, we will continue to expand our omni-channel capabilities, while further optimizing our store footprint."
Disclosure: The author holds no positions in any stocks mentioned.
