Caleres(CAL) - 2024 Q2 - Earnings Call Presentation

Financial Performance - Q2 2024 - Sales reached $683 million[6] - Earnings Per Share (EPS) stood at $0.85[7], a decrease of 1.8% compared to Q2 2023[7] - Gross margin was 45.5%[7], up 30 basis points year-over-year[7] - Debt reduction of $98 million[7] under the revolving credit facility compared to Q2 2023[7] Segment Performance - Q2 2024 - Famous Footwear sales increased by 1.5% to $420.3 million[11] - Brand Portfolio sales decreased by 5.1% to $285.5 million[9] due to systems implementation issues and weak demand for sandals[9] Fiscal Year 2024 Outlook (Revised) - Sales change is expected to be down low-single digits[13] - Operating margin is projected to be between 7.0% and 7.1%[13] - GAAP EPS is estimated to be between $3.94 and $4.09[13] - Adjusted EPS is expected to be between $4.00 and $4.15[13] Capital Allocation and Debt Reduction - The company aims to reduce debt to below $100 million[15] - The company targets a debt/EBITDA ratio of less than 0.5x[14]