Footwear retailer Caleres reports drop in sales and earnings
Caleres store Credits: Facebook/Caleres Fourth quarter net sales at footwear retailer Caleres of 639.2 million dollars, declined 8.3 percent year-over-year. The company also reported a 9.6 percent drop in Famous Footwear segment, with comparable sales down 2.9 percent, while the Brand Portfolio segment also decreased 7.2 percent. Net earnings declined to 11.1 million dollars or earnings per diluted share of 33 cents, compared to 30.8 million dollars or 86 cents, in the fourth quarter of 2023. “Our fourth quarter earnings were at the high end of our most recent guidance. We gained market share in women’s fashion footwear, our lead brands outperformed, and we grew our sneaker penetration. Famous Footwear’s business softened in the quarter, but we maximized key selling periods,” said Jay Schmidt, president and chief executive officer. “As we look forward to 2025 and the macroeconomic environment with persistent inflation and newer tariffs, we believe it is prudent to take a conservative view for the year,” added Schmidt.
Fourth quarter net sales at footwear retailer Caleres of 639.2 million dollars, declined 8.3 percent year-over-year.
The company also reported a 9.6 percent drop in Famous Footwear segment, with comparable sales down 2.9 percent, while the Brand Portfolio segment also decreased 7.2 percent.
Net earnings declined to 11.1 million dollars or earnings per diluted share of 33 cents, compared to 30.8 million dollars or 86 cents, in the fourth quarter of 2023.
“Our fourth quarter earnings were at the high end of our most recent guidance. We gained market share in women’s fashion footwear, our lead brands outperformed, and we grew our sneaker penetration. Famous Footwear’s business softened in the quarter, but we maximized key selling periods,” said Jay Schmidt, president and chief executive officer.
“As we look forward to 2025 and the macroeconomic environment with persistent inflation and newer tariffs, we believe it is prudent to take a conservative view for the year,” added Schmidt.
