The parent company of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands said the Brand Portfolio segment led the financial performance of the company for the first time in nearly two decades.
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Famous Footwear Parent, Caleres Inc., Posts Flat Sales in Q4 Despite Extra Week
The parent of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands, eked out a slight increase in net sales for the 14-week period ended February 3, increasing just 0.1 percent to $697.1 million, helped by the extra week.
Caleres, Inc. Hires Liz Dunn for Strategic Planning and Communication Chief
The parent of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands, hired Liz Dunn as SVP of corporate development and strategic communications
Famous Footwear Parent Caleres Reaffirms Full-Year Outlook
The parent of Famous Footwear and the Naturalizer, Vionic, Allen Edmonds, Blowfish Malibu, and Sam Edelman brands, reaffirmed its financial outlook for consolidated sales, EPS and adjusted EPS for full year 2023.
Caleres Appoints SVP of International
Caleres announced that Erica Mackoul joined the company as senior vice president of international. Most recently, she worked at Cole Haan.
Caleres Lowers Outlook on Softening Sales at Famous Footwear
Caleres reduced its sales outlook and narrowed its annual EPS guidance to the lower end of its previous range due to weaker-than-expected sales at its Famous Footwear chain. Caleres reported earnings in the third quarter came in slightly ahead of guidance while sales underperformed.
Caleres Names First Chief Design & Product Officer
The company promoted Natelle Baddeley to the role with creative oversight for the majority of the Caleres brand portfolio, including Naturalizer, Vionic, Dr. Scholl’s, Veronica Beard, Vince, Franco Sarto, Blowfish Malibu and LifeStride.
EXEC: Caleres Sees Famous Footwear Gaining Share
Famous Footwear’s same-store sales declined 4.3 percent in the second quarter but showed sequential improvement from the first quarter and is estimated to be taking market share. Jay Schmidt, president and CEO of Caleres, the parent of Famous, told analysts on a call, “During the second quarter, Famous continued to navigate difficult spending trends among its target consumer and the challenging economic backdrop overall.”
Caleres’ Debt Ratings Upgraded
S&P Global Ratings raised the debt ratings on Caleres, Inc. as the parent of Famous Footwear has sustained adjusted leverage in the low- to the mid-2x area, supported by moderating margin pressures and debt paydown under its asset-based lending (ABL) facility.
Caleres Lowers 2023 Revenue Guidance On Famous Footwear Weakness
Caleres reported first-quarter earnings declined but reached the upper end of guidance. Sales dropped 9.8 percent, below guidance, and Caleres reduced its revenue outlook for the year due to softening sales at Famous Footwear.
Caleres’ Q3 Tops Wall Street Targets
Caleres continued its strong performance in the third quarter, achieving record quarterly sales and delivering another period of solid earnings. Sales grew 1.8 percent as a 7.6 percent sales increase in the Brand Portfolio segment offset a slight decline at Famous Footwear.
Caleres Appoints Senior Vice President And CFO
Caleres announced that Jack Calandra was hired as senior vice president and CFO, effective September 12, 2022.
Caleres Sees Second-Quarter Sales Climb 9.3 Percent
Caleres saw sales expand 9.3 percent in the second quarter that ended July 30 as a 35.6 percent increase in its Brand Portfolio segment offset a 3.8 percent decline at Famous Footwear. Caleres reiterated its guidance for the year.
Caleres CEO To Retire Next Year
Diane Sullivan, Caleres’ long-time CEO, will retire effective January 15, 2023. The company announced the news on Monday. Jay Schmidt, president of Caleres, will succeed Sullivan as chief executive officer, with Sullivan moving to the role of executive chairman.
Caleres’ Debt Rating Outlook Revised Upward
S&P Global Ratings revised its rating on Caleres, Inc. to positive from stable. The rating agency noted that Caleres reported stronger-than-expected sales and margin expansion in the first quarter of fiscal 2022 across its two main brands, with sales returning to about pre-pandemic levels, reflecting the strengthening consumer demand.
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