Caleres(CAL) - 2025 Q3 - Quarterly Results

Sales Performance - Reported sales of $740.9 million, down 2.8% year-on-year[3] - Famous Footwear sales declined 4.8%, with comparable store sales up 2.5%[3] - Brand Portfolio sales increased 0.7% compared to the third quarter of 2023[3] - Consolidated net sales for the thirteen weeks ended November 2, 2024, were$ 740,941 thousand, down from $761,904 thousand for the same period in 2023, a decline of 2.7%[25] - Net sales for the Famous Footwear segment were$ 1,198,105 thousand for the thirteen weeks ended November 2, 2024, compared to $1,213,169 thousand for the same period in 2023, reflecting a decrease of 1.2%[28] - The company experienced a comparable sales decline of 0.9% in company-operated stores for the thirty-nine weeks ended November 2, 2024, compared to a 3.5% increase for the same period in 2023[28] Earnings and Profitability - Reported earnings per diluted share of$ 1.19, down from $1.32 in Q3 2023[6] - Adjusted earnings per diluted share of$ 1.23, down from $1.37 in Q3 2023[7] - Fiscal 2024 earnings per diluted share guidance revised to$ 3.35 to $3.45[10] - Adjusted diluted earnings per share for the thirteen weeks ended November 2, 2024, were$ 1.23, down from $1.37 in the same period last year, a decrease of 10.2%[23] - Basic earnings per share attributable to Caleres, Inc. shareholders were$ 1.20 for the thirteen weeks ended November 2, 2024, down from $1.32 for the same period in 2023, a decline of 9.1%[31] - Adjusted operating earnings for the Famous segment were$ 29,568 thousand, down from $46,600 thousand in the prior year, a decrease of 36.6%[25] - Adjusted operating earnings for the consolidated results were$ 143,579 thousand for the thirty-nine weeks ended November 2, 2024, down from $167,659 thousand for the same period in 2023, representing a decline of 14.4%[29] - The gross profit margin for the consolidated results was 45.5% for the thirteen weeks ended November 2, 2024, compared to 45.1% for the same period in 2023, indicating an improvement of 0.4 percentage points[28] - The gross profit for the consolidated results was$ 946,934 thousand for the thirteen weeks ended November 2, 2024, compared to $957,229 thousand for the same period in 2023, a decrease of 1.1%[28] Financial Position - Total assets increased to$ 1,955,939 thousand as of November 2, 2024, up from $1,826,893 thousand on October 28, 2023, representing a growth of 7.1%[19] - Total current liabilities decreased to$ 806,430 thousand from $827,921 thousand, a reduction of 2.0%[19] - Cash and cash equivalents at the end of the period were$ 33,685 thousand, slightly down from $34,031 thousand at the end of the previous period[21] - Borrowings under revolving credit agreements increased to$ 238,500 thousand from $222,000 thousand, an increase of 7.5%[19] - Total equity increased to$ 606,306 thousand from $520,172 thousand, reflecting a growth of 16.5%[19] - Total liquidity, including cash and cash equivalents and availability under the revolving credit agreement, was$ 285.8 million as of November 2, 2024, down from $301.4 million as of October 28, 2023[37] Cash Flow - Net cash provided by operating activities for the thirty-nine weeks ended November 2, 2024, was$ 75,855 thousand, compared to $157,183 thousand for the same period in the previous year, a decrease of 51.8%[21] Guidance and Outlook - Fiscal 2024 outlook revised to net sales down 2.5% to 3%[3] - Caleres, Inc. provided guidance for fiscal 2024, projecting GAAP diluted earnings per share to be between$ 3.35 and $3.45, with adjusted diluted earnings per share expected to be between$ 3.45 and $3.55[39] Other Financial Metrics - The EBITDA for the thirteen weeks ended November 2, 2024, was$ 71,404 thousand, resulting in an EBITDA margin of 9.6%, compared to $78,826 thousand and an EBITDA margin of 10.3% for the same period last year[37] - Adjusted EBITDA for the same period was$ 72,997 thousand, with an adjusted EBITDA margin of 9.9%, down from $81,130 thousand and 10.6% in the prior year[37] - The debt/EBITDA leverage ratio improved to 1.0 as of November 2, 2024, compared to 0.9 as of October 28, 2023[37]