Financial Performance - Net sales for the thirteen weeks ended November 1, 2025, were $790,051,000, an increase from $740,941,000 for the same period in 2024, representing a growth of 6.4%[5] - Gross profit for the thirty-nine weeks ended November 1, 2025, was $894,438,000, down from $946,934,000 in 2024, indicating a decrease of 5.5%[5] - Operating earnings for the thirteen weeks ended November 1, 2025, were $11,968,000, significantly lower than $56,698,000 in the same period last year, reflecting a decline of 78.9%[5] - Net earnings attributable to Caleres, Inc. for the thirty-nine weeks ended November 1, 2025, were $16,042,000, compared to $102,325,000 in 2024, a decrease of 84.3%[5] - Basic earnings per share attributable to Caleres, Inc. shareholders for the thirteen weeks ended November 1, 2025, were $0.07, down from $1.20 in the same period last year, a decline of 94.2%[5] - Total comprehensive income attributable to Caleres, Inc. for the thirty-nine weeks ended November 1, 2025, was $23,412,000, down from $108,050,000 in 2024, a decrease of 78.3%[7] - The company reported net earnings attributable to Caleres, Inc. of $11.3 million for the thirteen weeks ended November 1, 2025, down from $37.1 million in the prior year[31] - Basic earnings per share attributable to Caleres, Inc. shareholders for the thirty-nine weeks ended November 1, 2025, was $0.47, down from $2.93 in the prior year, representing a decline of approximately 83.9%[46] Cash Flow and Liquidity - Net cash provided by operating activities for the thirty-nine weeks ended November 1, 2025, was $40,454,000, a decrease from $75,855,000 in 2024, reflecting a decline of 46.4%[9] - The company reported a net cash increase of $4,327,000 for the thirty-nine weeks ended November 1, 2025, compared to an increase of $12,327,000 in the same period last year[9] - Cash and cash equivalents at the end of the period on November 1, 2025, were $33,963,000, slightly up from $33,685,000 at the end of the same period in 2024[9] - The company had $355.0 million of borrowings outstanding and $8.6 million in letters of credit under the Credit Agreement as of November 1, 2025[78] - The revolving credit facility was increased by $200.0 million to a total of $700.0 million, maturing on June 27, 2030[73] - The company has total additional borrowing availability of $278.1 million as of November 1, 2025[78] Acquisitions and Investments - The acquisition of Stuart Weitzman resulted in a cash outflow of $108,858,000, impacting the investing activities significantly[9] - The company completed the acquisition of Stuart Weitzman for an aggregate purchase price of $108.9 million on August 4, 2025[24] - Stuart Weitzman contributed net sales of $45.8 million and reported an operating loss of $18.9 million for the thirteen weeks ended November 1, 2025[29] - The company expects to finalize the purchase price allocation for the Stuart Weitzman acquisition within one year from the acquisition date[27] - The company’s total current assets from the acquisition of Stuart Weitzman were valued at $122.5 million, including inventories of $86.8 million[26] - The company’s total liabilities from the acquisition included current liabilities of $36.2 million[26] Sales and Revenue Breakdown - Total net sales for the thirty-nine weeks ended November 1, 2025, were $2,062,791 thousand, a decrease from $2,083,456 thousand for the same period in 2024, representing a decline of approximately 1%[34] - Direct-to-consumer sales reached $1,485,526 thousand for the thirty-nine weeks ended November 1, 2025, compared to $1,502,046 thousand in the prior year, indicating a decrease of about 1.1%[34] - Retail store sales for Famous Footwear were $975,223 thousand for the thirty-nine weeks ended November 1, 2025, down from $1,040,313 thousand in 2024, reflecting a decline of approximately 6.3%[34] - E-commerce sales from company websites totaled $356,538 thousand for the thirty-nine weeks ended November 1, 2025, compared to $324,561 thousand in 2024, marking an increase of about 9.8%[34] Restructuring and Special Charges - The company incurred restructuring and other special charges of $6,705,000 for the thirteen weeks ended November 1, 2025, compared to $1,593,000 in the same period last year[5] - The Company incurred approximately $2.9 million in costs for expense reduction initiatives during the thirteen weeks ended November 1, 2025, and $7.4 million for the thirty-nine weeks ended November 1, 2025, impacting earnings by $0.06 and $0.16 per diluted share respectively[50] Shareholder Equity and Dividends - The balance of shareholders' equity as of November 1, 2025, was $625,330 thousand, reflecting an increase from previous periods[10] - The company declared dividends of $2,375 thousand, equating to $0.07 per share, for the period ending November 1, 2025[10] - The company reported a net loss of $1,602 thousand attributable to noncontrolling interests for the thirteen weeks ended November 1, 2025[16] Inventory and Assets - The net inventory balance as of November 1, 2025, was $678.2 million, an increase from $585.9 million as of November 2, 2024[58] - The Company reported total intangible assets of $357.6 million as of November 1, 2025, with accumulated amortization of $166.0 million[59] - As of November 1, 2025, the company's total intangible assets amounted to $463.8 million, with a net carrying value of $191.6 million after accumulated amortization and impairment[63] Tax and Compliance - The consolidated effective tax rate for the thirteen weeks ended November 1, 2025, was 76.7%, significantly higher than 23.6% for the same period in 2024[104] - The company is currently evaluating the impact of new accounting standards on its financial statement disclosures, with ASU 2023-09 effective for fiscal year 2025[21] Employee Compensation and Benefits - Share-based compensation expense for the period was $3,117 thousand, contributing to the overall equity[10] - The total net periodic benefit expense for pension benefits was $671,000 for the thirteen weeks ended November 1, 2025, compared to $432,000 for the same period in 2024[88] - The company granted long-term incentive awards with a target value of $6.7 million for the 2025-2027 performance period, with a maximum value of $13.4 million[85]

Core Insights - Caleres completed the acquisition of Stuart Weitzman for $120.2 million in August 2023, which is expected to impact future earnings significantly [1][6] - The footwear brand reported net sales of $790.1 million for the 13 weeks ending November 1, 2025, marking a 6.6% increase from $740.9 million in the same period last year [1] - Direct-to-consumer sales represented approximately 71% of total net sales in the reported quarter [1] Financial Performance - Gross profit for Caleres increased to $329.9 million in Q3, up from $326.9 million in the prior year, but gross margin decreased by 230 basis points to 41.8% [2] - SG&A expenses rose to $311.3 million, accounting for 39.4% of net sales, an increase of 310 basis points from the previous year, largely due to costs associated with Stuart Weitzman [3] - GAAP net earnings fell sharply to $2.4 million, or $0.07 per diluted share, compared to $41.4 million, or $1.19 per diluted share, in the prior-year period [4] Inventory and Outlook - Inventory at the end of the quarter was $678.2 million, an increase of $92 million year-over-year, with Stuart Weitzman contributing $77 million to this total [5] - For the remainder of fiscal 2025, the company anticipates ongoing tariff headwinds affecting gross margin and expects GAAP loss per diluted share between $0.13 and $0.18, with adjusted earnings per diluted share between $0.55 and $0.60, factoring in dilution from Stuart Weitzman [6] - The company plans to transition the Stuart Weitzman business to its systems and address aged inventory, aiming for long-term growth and profitability starting in fiscal 2026 [7]

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After finalizing its acquisition of Stuart Weitzman from Tapestry in August, Caleres management is focused on turning around the business in 2026. On the company’s third quarter conference call on Tuesday, Caleres president and chief executive officer Jay Schmidt walked analysts through what’s working and what’s not as Caleres moves toward bringing Stuart Weitzman to breakeven in 2026 and profitability thereafter. More from WWD “As many of you know, the brand under Tapestry ownership has been underperfor ...

Caleres (NYSE:CAL) Q3 2026 Earnings Call December 09, 2025 10:00 AM ET Company ParticipantsJay Schmidt - President and CEOJack Calandra - Senior Vice President and Chief Financial OfficeLiz Dunn - Senior Vice President of Corporate Development and Strategic CommunicationsJack Calandra - Senior Vice President and CFODana Telsey - CEO and Chief Research OfficerConference Call ParticipantsMitch Kummetz - AnalystAshley Owens - Vice President and Equity Research AnalystOperatorGreetings. Welcome to Caleres Incor ...

Caleres (NYSE:CAL) Q3 2026 Earnings Call December 09, 2025 10:00 AM ET Company ParticipantsJay Schmidt - President and CEOJack Calandra - Senior Vice President and Chief Financial OfficeLiz Dunn - Senior Vice President of Corporate Development and Strategic CommunicationsJack Calandra - Senior Vice President and CFODana Telsey - CEO and Chief Research OfficerConference Call ParticipantsMitch Kummetz - AnalystAshley Owens - Vice President and Equity Research AnalystOperatorGreetings. Welcome to Caleres Incor ...

Caleres (NYSE:CAL) Q3 2026 Earnings Call December 09, 2025 10:00 AM ET Speaker2Greetings. Welcome to Caleres Incorporated's third quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Liz Dunn, SVP, Corporate D ...

THIRD QUARTER 2025 DECEMBER 9, 2025 UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This presentation contains certain forward-looking statements and expectations regarding the company's future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changes in United States and international trade policies, including tariffs and trade restrictions; (ii) changing cons ...

Core Viewpoint - Caleres Inc. reported quarterly earnings of $0.67 per share, missing the Zacks Consensus Estimate of $0.75 per share, and showing a decline from $1.23 per share a year ago, indicating a significant earnings surprise of -10.67% [1][2] Financial Performance - The company posted revenues of $790.05 million for the quarter ended October 2025, surpassing the Zacks Consensus Estimate by 2.55%, and showing an increase from $740.94 million year-over-year [2] - Over the last four quarters, Caleres has exceeded consensus revenue estimates two times [2] Stock Performance - Caleres shares have declined approximately 41.8% since the beginning of the year, contrasting with the S&P 500's gain of 16.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $708.55 million, and for the current fiscal year, it is $1.65 on revenues of $2.75 billion [7] - The trend of estimate revisions for Caleres was mixed ahead of the earnings release, which may change following the recent report [6] Industry Context - The Shoes and Retail Apparel industry, to which Caleres belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Caleres' stock performance [5]