Caleres(US:CAL)2026-03-19 12:49Financial Performance - Fourth quarter net sales were $695.1 million, an increase of 8.7% year-over-year, with Brand Portfolio sales up 20.3% and organic sales up 1.5%[5] - GAAP loss per diluted share was $0.70, while adjusted loss per diluted share was $0.36; excluding Stuart Weitzman, adjusted loss per diluted share was $0.06[5] - Gross profit for the fourth quarter was $290.3 million, with a gross margin of 41.8%, down 230 basis points compared to the previous year[8] - For fiscal 2026, total sales are expected to increase low to mid-single digits, with GAAP earnings per diluted share projected between $1.31 and $1.61[12] - First quarter 2026 guidance anticipates net sales to increase mid to high-single digits, with GAAP earnings per diluted share expected to be between $0.21 and $0.26[11] - Consolidated net sales for the same period reached $695.1 million, a 8.8% increase from $639.2 million in the prior year[27] - For the fiscal year ended January 31, 2026, consolidated net sales reached $2,757.9 million, a slight increase from $2,722.7 million in the previous year[31] Profitability and Margins - Gross profit for the thirteen weeks ended January 31, 2026, was $290,340, representing a gross margin of 41.7%, compared to $275,108 and a gross margin of 43.0% in the prior year[23] - The gross profit margin for the consolidated segment was 41.8%, down from 44.1% in the previous year[27] - Gross profit for the same period was $1,184.8 million, down from $1,222.0 million, resulting in a gross margin of 43.0%, compared to 44.9% in the prior year[31] - Adjusted gross profit, excluding Stuart Weitzman, was $1,152.3 million, reflecting a decrease from $1,222.0 million[32] - Operating earnings for the fiscal year were $6.4 million, significantly lower than $149.9 million in the previous year, with an operating margin of 0.2% compared to 5.5%[31] - The adjusted operating margin for the consolidated segment was -1.7%, compared to 0.2% in the prior year, reflecting operational challenges[27] Losses and Expenses - Operating loss for the thirteen weeks ended January 31, 2026, was $(26,473), a decline from operating earnings of $7,870 in the same period last year[23] - Net loss attributable to Caleres, Inc. for the thirteen weeks ended January 31, 2026, was $(22,734), compared to net earnings of $4,930 in the prior year[23] - Total charges and other items amounted to $14.9 million, impacting adjusted earnings negatively by $0.34 per share[26] - For the thirteen weeks ended January 31, 2026, Caleres reported a net loss of $24.3 million, compared to net earnings of $3.9 million for the same period in 2025[34] - The adjusted net loss for the same period was $13.3 million, while adjusted net earnings were $10.1 million in the prior year, indicating a significant decline[35] - For the fiscal year ended January 31, 2026, Caleres, Inc. reported a net loss of $9.9 million, down from net earnings of $106.1 million in the previous year[34] Sales by Segment - Famous Footwear sales declined 1.2%, while comparable sales were up 0.1%[5] - The Famous Footwear segment reported net sales of $354.0 million, slightly down from $358.4 million in the previous year, with a comparable sales increase of 0.1%[27] - The Brand Portfolio segment achieved net sales of $361.2 million, up from $300.3 million in the prior year, indicating a significant growth[27] - Stuart Weitzman net sales were $56.3 million for the thirteen weeks ended January 31, 2026, contributing to the overall financial results[27] Operational Metrics - Direct-to-consumer sales represented approximately 74% of total net sales in the fourth quarter[8] - The integration of Stuart Weitzman was completed on time and on budget, with minimal business disruption[5] - Selling and administrative expenses were $310.0 million, or 44.6% of net sales, reflecting a deleverage of 370 basis points compared to the previous year[8] - Inventory at year-end was $610.5 million, up $45.2 million year-over-year, with approximately $57 million attributed to Stuart Weitzman[14] - Total assets increased to $1,965,790 as of January 31, 2026, up from $1,894,754 as of February 1, 2025[24] - Total current liabilities increased to $845,540 as of January 31, 2026, from $757,933 as of February 1, 2025[24] - Cash and cash equivalents at the end of the period were $29,769, slightly up from $29,636 at the beginning of the period[25] - Net cash provided by operating activities for the thirteen weeks ended January 31, 2026, was $103,177, compared to $104,562 in the prior year[25] - The company incurred $108,858 in cash outflows for the acquisition of Stuart Weitzman during the period[25] - The company ended the period with 1,009 company-operated stores, an increase from 960 stores in the previous year[27] - The company operated 1,009 stores at the end of the fiscal year, an increase from 960 stores in the previous year[31] Shareholder Information - Basic loss per share attributable to Caleres, Inc. shareholders for the thirteen weeks ended January 31, 2026, was $(0.70), compared to earnings of $0.15 in the same period last year[23] - The diluted adjusted loss per common share, excluding Stuart Weitzman, was $(0.06) for the thirteen weeks ended January 31, 2026, compared to $0.33 in the prior year[36] - The company reported a total of 32.5 million basic common shares for the thirteen weeks ended January 31, 2026, slightly up from 32.5 million shares in the previous year[35] - Caleres, Inc. anticipates adjusted diluted earnings per share for fiscal 2026 to be between $1.35 and $1.65[38] - The company provided guidance for the first quarter of 2026, projecting GAAP diluted earnings per share between $0.21 and $0.26, and adjusted diluted earnings per share between $0.25 and $0.30[38]