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 ...

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 excited to announce its partnership with four new licensees to expand all three of its brands - Sam Edelman, Circus NY by Sam Edelman and Sam & Libby – into new lifestyle categories. New licensing partners include HB Connections (handbags), Esquire Brands (kids’ shoes), Gina Group (hosiery), and My Step Global (slippers). These lic ...

Financial Performance - Net sales for the thirteen weeks ended October 28, 2023, were $761.9 million, a decrease of 4.5% compared to $798.3 million for the same period in 2022[102]. - Gross profit for the same period was $340.4 million, slightly up from $339.9 million year-over-year, resulting in a gross margin of 44.7%[102]. - Operating earnings increased to $64.4 million, compared to $53.8 million in the prior year, reflecting a growth of 19.0%[102]. - Net earnings for the thirteen weeks ended October 28, 2023, were $47.0 million, up from $39.0 million in the same period last year, representing a 20.0% increase[102]. - Basic earnings per share attributable to Caleres, Inc. shareholders rose to $1.32, compared to $1.09 for the same period in 2022, marking a 21.1% increase[102]. - Total net sales for the thirty-nine weeks ended October 28, 2023, were $2,271,704,000, compared to $2,271,704,000 for the same period in 2022, showing no growth year-over-year[143]. - Earnings before income taxes for the thirty-nine weeks ended October 28, 2023, were $153,128 thousand, down from $189,212 thousand in the prior year, indicating a decrease of 19.1%[154]. Cash Flow and Liquidity - The company reported net cash provided by operating activities of $157.2 million, significantly higher than $46.3 million in the prior year[105]. - Cash and cash equivalents at the end of the period were $34.0 million, up from $32.8 million at the end of the previous year[105]. - The Company maintains a revolving credit facility for working capital needs, with borrowings under the credit agreement approximating $222.0 million as of October 28, 2023[175]. - The Company had $222.0 million in borrowings outstanding under its Credit Agreement, with an additional borrowing availability of $267.4 million[137]. Sales and Marketing - Total direct-to-consumer sales reached $1.5 billion, with retail stores contributing $1.1 billion and e-commerce sales totaling $308.7 million[116]. - Direct-to-consumer sales totaled $588.5 million, with e-commerce sales from company websites contributing $119.2 million, while wholesale e-commerce sales accounted for $59.0 million[142]. Inventory and Restructuring - The company experienced a decrease in inventories, with a net change of $23.8 million compared to a decrease of $53.0 million in the previous year[105]. - As of October 28, 2023, the company's net inventory balance was $9,974,000, an increase from $8,998,000 on October 29, 2022, reflecting a growth of approximately 10.8%[122]. - The Company incurred restructuring costs of $3.9 million during the thirty-nine weeks ended October 28, 2023, primarily related to organizational changes and integration efforts[152]. Shareholder Actions - The company repurchased 763,000 shares during the thirty-nine weeks ended October 28, 2023, compared to 2,622,845 shares repurchased in the same period of the previous year[124]. - The company had a total of 1,609,313 shares outstanding as of October 28, 2023, with a fair value of $21.62[188]. Tax and Interest - The consolidated effective tax rates were 23.5% for the thirteen weeks ended October 28, 2023, compared to 26.2% for the same period in 2022[198]. - Interest expense for the thirteen weeks ended October 28, 2023, was $(4,488) thousand, compared to $(4,003) thousand in the same period of 2022[154]. Assets and Liabilities - The company's goodwill and intangible assets as of October 28, 2023, had a carrying value of $210,436,000, reflecting a stable asset base[131]. - The carrying amount of goodwill as of October 28, 2023, was $415.7 million, net of accumulated impairment charges[155]. - The loyalty programs liability decreased to $13,770,000 as of October 28, 2023, down from $17,690,000 a year earlier, representing a decline of approximately 22.3%[123]. - The Company recorded no impairment charges for indefinite-lived intangible assets during the thirty-nine weeks ended October 28, 2023, indicating stable asset valuation[132]. Future Outlook - The company plans to continue expanding its e-commerce capabilities and enhancing its product offerings to drive future growth[110]. - The company expects to complete the sale of its nine-acre corporate headquarters campus within the next year, which has been classified as property and equipment held for sale[140]. - The company expects to spend approximately $0.6 million in 2023 and $12.2 million in total thereafter related to on-site remediation activities[201]. Other Financial Metrics - The service cost for the pension plan was $3,767,000 for the thirteen weeks ended October 28, 2023, compared to $5,358,000 for the same period in 2022[191]. - The company reported a net periodic benefit income of $(847,000) for the thirteen weeks ended October 28, 2023, compared to $(4,227,000) for the same period in 2022[191]. - The company experienced a foreign currency translation loss of $(1,313,000) for the period ending October 28, 2023[186]. - Long-lived asset impairment charges totaled $175,000 for the thirteen weeks ended October 28, 2023, and $589,000 for the thirty-nine weeks ended[197].