Caleres Inc. (CAL) came out with quarterly earnings of $0.86 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this footwear wholesaler and retailer would post earnings of $1.28 per share when it actually produced earnings of $1.37, delivering a surprise of 7.03%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Caleres I ...

Financial Performance - Fourth quarter earnings per share reached $1.57, with adjusted earnings per share of $0.86, reflecting a 32% year-over-year increase[2] - For fiscal 2023, net sales totaled $2.82 billion, down 5.1% from fiscal 2022, with Famous Footwear segment net sales declining 5.6%[7] - Fiscal 2023 adjusted net earnings were $149.3 million, or adjusted earnings per diluted share of $4.18, compared to $167.1 million or $4.52 in fiscal 2022[7] - Fiscal 2024 net sales are expected to be flat to up 2% compared to fiscal 2023, with earnings per diluted share projected between $4.30 and $4.60[13] - The company reported net earnings attributable to Caleres, Inc. of $55,808 thousand for the 14 weeks ended February 3, 2024, compared to $40,808 thousand in the prior year[42] - Adjusted net earnings attributable to Caleres, Inc. for the fourteen weeks ended February 3, 2024, were $30,751 thousand, compared to $23,434 thousand for the same period in 2023, representing a 31.4% increase[47] Sales and Revenue - The Brand Portfolio segment achieved a 4.5% increase in year-over-year net sales and delivered record annual adjusted operating earnings exceeding $148 million[3] - Direct-to-consumer sales represented approximately 74% of total net sales in Q4 2023[6] - For the 14 weeks ended February 3, 2024, consolidated net sales were $697,123 thousand, a slight increase from $696,434 thousand for the 13 weeks ended January 28, 2023[35] - For the 53 weeks ended February 3, 2024, net sales totaled $2,817,294 thousand, down from $2,968,138 thousand in the previous year[38] Profitability - Gross profit increased to $305,728 for the fourteen weeks ended February 3, 2024, from $281,188 for the thirteen weeks ended January 28, 2023, representing a growth of 8.7%[23] - Operating earnings rose to $30,747 for the fourteen weeks ended February 3, 2024, compared to $25,865 for the same period last year, marking an increase of 18.5%[23] - The adjusted operating earnings for the 53 weeks ended February 3, 2024, were $200,558 thousand, with an adjusted operating margin of 6.9%[39] - The gross profit for the 53 weeks ended February 3, 2024, was $1,262,957 thousand, with a gross margin of 44.8%[38] Expenses and Liabilities - The company reduced revolver borrowings by $40 million in Q4 2023 and over $125 million from fiscal 2022, ending fiscal 2023 with $182 million in borrowings[9][10] - Total current assets decreased to $788,909 as of February 3, 2024, from $831,455 as of January 28, 2023, a decline of 5.1%[24] - Total liabilities decreased to $1,237,176 as of February 3, 2024, from $1,362,359 as of January 28, 2023, a reduction of 9.2%[24] - The company reported a net cash used for financing activities of $162,993 for the fifty-three weeks ended February 3, 2024, compared to $58,154 for the previous year, indicating increased cash outflows[25] Future Outlook - The company anticipates a consolidated operating margin of 7.3% to 7.5% for fiscal 2024[14] - Capital expenditures for fiscal 2024 are expected to be between $60 million and $70 million[14] - The company plans to continue its market expansion and product development strategies to enhance future performance[35] Earnings Metrics - Basic earnings per share attributable to Caleres, Inc. shareholders increased to $1.57 for the fourteen weeks ended February 3, 2024, compared to $1.14 for the same period last year, a rise of 38.0%[23] - Diluted earnings per common share attributable to Caleres, Inc. shareholders for the fourteen weeks ended February 3, 2024, were $1.57, up from $1.13 in the prior year, reflecting a 39% increase[49] - Basic adjusted earnings per common share attributable to Caleres, Inc. shareholders for the fourteen weeks ended February 3, 2024, were $0.87, up from $0.66 in the same period of 2023[49] - The diluted adjusted earnings per common share attributable to Caleres, Inc. shareholders for the fourteen weeks ended February 3, 2024, were $0.86, compared to $0.65 for the same period in 2023[49] Cash Flow and Liquidity - Net cash provided by operating activities for the fifty-three weeks ended February 3, 2024, was $200,151, compared to $125,879 for the fifty-two weeks ended January 28, 2023, an increase of 58.8%[25] - Total liquidity, including cash and cash equivalents and availability under the revolving credit agreement, was $329.9 million as of February 3, 2024, compared to $215.6 million a year earlier[53] - The debt/EBITDA leverage ratio improved to 0.7 as of February 3, 2024, compared to 1.1 as of January 28, 2023[53]

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced that Liz Dunn has joined the company as senior vice president of corporate development and strategic communications. In this newly created role, Dunn will leverage her nearly 30 years’ experience spanning equity research, investment banking, consulting, and finance to ensure Caleres aligns its growth ambitions and strategic communications with delivering shareholder value. Dunn ...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.07 per share to be paid on April 12, 2024, to shareholders of record as of March 28, 2024. The company has paid a consecutive quarterly dividend for more than 100 years. About Caleres Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Allen Ed ...

Wall Street analysts forecast that Caleres Inc. (CAL) will report quarterly earnings of $0.86 per share in its upcoming release, pointing to a year-over-year increase of 32.3%. It is anticipated that revenues will amount to $694.29 million, exhibiting a decline of 0.3% compared to the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial pro ...

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NEW YORK--(BUSINESS WIRE)--Sam Edelman, the contemporary lifestyle brand celebrated for its iconic footwear and a lead brand in the Caleres (NYSE: CAL) portfolio, unveils its Spring/Summer 2024 campaign featuring Kylie Jenner. This seminal campaign marks the start of the Sam Edelman brand’s 20th anniversary celebration taking place throughout the year. Sam and his co-founder, muse, and wife, Libby Edelman’s visionary spirit is captured in a series of profound images of Kylie as we’ve never seen her befor ...

NEW YORK--(BUSINESS WIRE)--Sam Edelman, the contemporary lifestyle brand behind some of the world’s most iconic footwear and a lead brand in the Caleres (NYSE: CAL) portfolio, is thrilled to launch a capsule collection designed in collaboration with students from the Savannah College of Art and Design (SCAD). In a partnership through the university's innovation design studio, SCADpro, talented SCAD students from top-ranked degree programs including sneaker design, accessory design, industrial design, fashio ...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced it plans to release its fourth quarter 2023 financial results before the market opens on Tuesday, March 19. Company executives will host a conference call at 10:00 a.m. Eastern time that day to discuss the quarterly results and provide a general business update. The dial-in number for North America is (877) 704-4453 or (201) 389-0920 for international participants, no passcode nece ...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE:CAL), a market-leading portfolio of consumer-driven footwear brands, today announced Andrew Leckie has joined Famous Footwear as senior vice president and general merchandise manager. In this role, he will oversee buying and merchandising for the adult athletic, kids and Canadian businesses. “Andrew is accomplished in developing and executing strategies, nurturing his extensive vendor relationships, elevating product assortment and leading a team,” said Mike Edwa ...