Shares of Caleres, Inc. rose nearly 30 percent Wednesday after the off-price footwear chain reported first-quarter results that came in well above Wall Street estimates and raised its guidance for the year. Famous Footwear marked its fifth straight quarter of year-over-year margin improvement while the Branded Portfolio segment continued its strong recovery.
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Caleres Lifts 2022 Outlook As Momentum Continues In Q1
Caleres, Inc. raised its 2022 sales and earnings per share guidance after delivering its strongest first-quarter performance for sales, gross profit margins and earnings. Famous Footwear’s sales were down 3.4 percent, but the off-price chain achieved another quarter of strong gross profit margin.
Caleres’ Sales Expand 19 Percent In Fourth Quarter
Caleres reported significantly improved earnings in the fourth quarter as sales grew 19 percent. The parent of Famous Footwear achieved all-time record operating earnings and operating margins for the year.
Caleres Appoints Board Member
Caleres announced the election of Bruce Thorn to its Board of Directors. Thorn is currently the president and CEO of Big Lots, a $6.2B Fortune 500 company operating 1,400-plus stores in the U.S.
Caleres Raises Fiscal Year 2021 Earnings Per Share Guidance
Caleres announced that it’s raising its previously issued earnings per share outlook for fiscal year ending January 29, 2022.
Caleres Debt Ratings Upgraded
Moody’s Investors Service upgraded Caleres, Inc.’s debt ratings, reflecting Caleres’ earnings growth coming out of the coronavirus pandemic as well as governance considerations, specifically recent debt repayment.
Caleres Raises Outlook On Q3 Earnings Beat
Caleres raised its earnings guidance for the year after delivering record quarterly earnings in the third quarter ended October 30. Famous Footwear generated record quarterly sales while its Brand Portfolio segment saw sequential sales improvement.
Caleres Names Senior Vice President, Customer Marketing
Suzy Cirulis has joined Caleres as senior vice president, customer marketing. She previously worked for Crate and Barrel and Gap Inc.
Inside The Call: Famous Footwear Shines But Brand Portfolio Struggles For Caleres in Q2
Caleres, Inc. posted sales of $675.5 million in net sales in the fiscal second quarter ended July 31, up 34.7 percent from Q2 but down 4.4 percent from the 2019 comparable period.
Caleres Sees Q4 Revenues Climb 35 Percent
Caleres Inc. reported sales improved 34.7 percent in the second quarter ended July 31. The gains were driven by a 35.8 percent sales increase in the Famous Footwear segment and a 30.2 percent sales increase in the Brand Portfolio segment. Higher gross margins further helped the off-pricer deliver its most profitable quarter ever.
Caleres’ Debt Outlook Raised To Positive
Moody’s Investors Service changed Caleres Inc.’s (Caleres) outlook from negative to positive.
Caleres Appoints Chief Marketing Officer
Caleres has appointed Jennifer Olsen as chief marketing officer. Olsen was most recently the CMO of UNTUCKit.
Caleres’ Debt Rating Outlook Revised To Stable
S&P Global Ratings raised its debt ratings outlook on Caleres to Stable From Negative as it expects the company’s operating performance to continue to gradually improve in 2021, spurred by the expected healthy recovery in sales of its retail business’ wellness, comfort, and sport styles apparel shoes.
Caleres Sets Ambitious Goals For Next Five Years In Inaugural ESG Report
Caleres published its first environmental, social, governance (ESG) report, Caleres Cares … Feet First. The report covers Caleres’ activities in 2020 and establishes ambitious commitments for the next five years.
Caleres Sees $100 Million In Annual Cost Savings Ahead On Operational Improvements
Consolidated fiscal fourth-quarter sales were $571.0 million, down 18.3 percent from the prior-year fourth quarter. Direct-to-consumer sales reached 75 percent of total sales, with owned e-commerce sales increasing approximately 25 percent during the period.
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