Last month’s $360 million acquisition of Vionic Group so far has checked all the boxes that Caleres Inc. was targeting with the deal, and now the company will look to its newest asset to boost top- and bottom-line growth.
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Caleres Lifts Guidance On Strong Famous Footwear Sales, Vionic Deal
Caleres Inc. lifted its guidance after a solid third quarter that saw the company get a boost from Famous Footwear and also announce the acquisition of Vionic.
Caleres Announces Acquisition Of Vionic
Caleres announced the company has acquired Vionic Group for $360 million, subject to certain adjustments. The acquisition of Vionic allows Caleres to continue to expand the company’s Brand Portfolio and gives the company additional access to the growing contemporary comfort footwear category.
Caleres’s Shares Sink On Q2 Miss
Shares of Caleres Inc., the parent of Famous Footwear, fell 7.9 percent on Wednesday after the company reported earnings and sales that both grew but just missed Wall Street’s targets. The report comes as competitors, DSW and Shoe Carnival, both sharply raised their guidance following robust Q2 results.
Caleres Acquires Majority Stake In Blowfish Malibu
Caleres announced the company has acquired a controlling interest in Blowfish Malibu, a footwear brand that embraces the California lifestyle.
Caleres Capitalizing On Shift To Digital Demand
Even though Caleres Inc. missed analysts’ first-quarter earnings and revenue expectations, which was followed by shares falling slightly Friday morning, recent strides in e-commerce initiatives bode well for the parent company of a range of footwear brands and Famous Footwear retail stores.
Caleres Earnings Increase But Miss Analysts’ Estimates
Caleres, whose portfolio includes a range of footwear brands and the Famous Footwear retail stores, reported net income in the first quarter ended May 5 of $17.2 million and diluted earnings per share of $0.40.
Caleres Sees Continued Strength In Sports-Inspired Sneakers
Said CEO Diane Sullivan, “As you would expect, we’re seeing anything that’s sport-related continues to be very strong, not only in sneakers but also in trainers. And actually even sport sandals right now look to be very strong.”
Caleres Sees Robust Q4 Earnings Gains
Caleres Inc. reported healthy gains in earnings in the fourth quarter as Famous Footwear’s comps grew 2.8 percent and sales in its Branded Portfolio gained 13.8 percent.
Caleres Earns Top Marks In 2018 Corporate Equality Index
Caleres announced that it received a perfect score of 100 percent on the 2018 Corporate Equality Index (CEI), a national benchmarking survey and report on corporate policies and practices related to LGBT workplace equality, administered by the Human Rights Campaign Foundation.
Moody’s Upgrades Caleres’ Debt Ratings
Moody’s Investors Service upgraded the Corporate Family Rating (CFR) of Caleres Inc., formerly known as Brown Shoe, to Ba3 from B1.
Caleres Appoints President For Its New Men’s And International Division
Caleres announced the appointment of Malcolm Robinson as president of the company’s new Men’s and International division.
Athletic Powers Caleres To Above-Plan Quarter
With athletic continuing to pace Famous Footwear’s sales and Under Armour set to arrive in June, Caleres Inc. reported earnings in the first quarter that were down but ahead of Wall Street’s targets.
Caleres’ Q1 Earnings Slide
The parent of Famous Footwear saw earnings decrease 16.7 percent but the company managed 8.0 sales growth and more than 50 basis points of gross margin improvement.
Caleres Appoints Board Members
With the addition of Wenda Harris Millard and Brenda Freeman, the Caleres board now has more than 50 percent of its board seats held by women.
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