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Caleres Inc. (NYSE: CAL) is a globally recognized footwear company with a rich heritage dating back over a century. Caleres is committed to providing high-quality footwear that fits people’s lives, catering to individuals of all ages and lifestyles. The company boasts a diverse portfolio of well-known brands including Naturalizer, LifeStride, Ryka, Dr. Scholl’s, Sam Edelman, Via Spiga, Diane Von Furstenberg, Vince, Franco Sarto, Carlos by Carlos Santana, and Fergie Footwear. These brands are accessible through more than 1,200 retail stores under the banners of Famous Footwear and Naturalizer, as well as through various online platforms.
Caleres operates through two main segments: Famous Footwear and Brand Portfolio. The Famous Footwear segment includes retail stores and online sales channels like famousfootwear.com and famousfootwear.ca. The Brand Portfolio segment focuses on wholesale operations, designing, developing, sourcing, manufacturing, marketing, and distributing branded, licensed, and private-label footwear to a wide array of retailers including national chains, department stores, mass merchandisers, independent retailers, and Caleres’ own Famous Footwear, Sam Edelman, Naturalizer, and Allen Edmonds stores and e-commerce sites.
Employing a team driven by a passion for innovation and a commitment to excellence, Caleres aims to inspire people to feel good from their feet up. The company’s mission is to foster a collaborative work environment where creativity flourishes just as it does in a start-up, despite being a $2.6 billion enterprise.
Recent Achievements and Projects: Caleres has recently focused on expanding its digital footprint, enhancing customer experience through improved e-commerce platforms, and strengthening its brand presence globally. The company has also ventured into sustainable practices, ensuring their operations are environmentally friendly.
Financial Condition: As of the latest reports, Caleres remains financially robust, showcasing steady revenue growth and a commitment to shareholder value. The company continues to optimize its operations to improve profitability and maintain its competitive edge in the market.Partnerships and Collaborations: Caleres collaborates with various retailers and online platforms to broaden its market reach and ensure that its diverse portfolio of footwear brands is accessible to a global audience. These partnerships play a crucial role in reinforcing Caleres’ position as a leading footwear company.
Caleres (NYSE: CAL) has appointed Nancy Bitetto as senior vice president of New York brands, overseeing Franco Sarto, Vince, Veronica Beard, and private brand offerings. Bitetto brings over two decades of experience, most recently leading footwear and jewelry at Tory Burch, where she improved profitability and productivity. Her previous roles include head of women's footwear merchandising at Prada North America and leadership positions at Ferragamo and Sergio Rossi. The appointment aims to accelerate growth and expand profitability within the Caleres Brand Portfolio.
Caleres (NYSE: CAL) has expanded its board of directors to twelve members with the addition of Kyle Gendreau and Molly Langenstein. Gendreau, currently CEO of Samsonite International, brings expertise in global brand building, M&A, and financial management. Langenstein, former CEO of Chico's FAS, offers extensive retail industry experience and strategic leadership. Diane Sullivan, executive chairman of Caleres, emphasized how their combined experience will support the company's growth plans and shareholder value. Notably, Caleres maintains 50% women representation on its board and has been recognized by the Women's Forum of New York for achieving gender parity.
Caleres (NYSE: CAL), a portfolio of footwear brands, has scheduled its third quarter 2024 financial results release for Thursday, December 5, 2024, before market opening. A conference call with company executives will follow at 10 a.m. Eastern time to discuss quarterly results and provide business updates. The call will be accessible to North American participants at (877) 704-4453 and international callers at (201) 389-0920. A replay will be available through December 19, 2024, and can be accessed via phone or webcast.
Caleres (NYSE: CAL) reported second quarter 2024 results and updated guidance. Key points include:
- Net sales of $683.3 million, down 1.8% year-over-year
- Famous Footwear sales up 1.5%, Brand Portfolio sales down 5.1%
- Gross margin improved to 45.5%, up 30 basis points
- Earnings per share of $0.85, below expectations
- Lowered fiscal 2024 outlook: net sales now expected to decline low-single-digits percent
- Revised EPS guidance to $3.94-$4.09, down from $4.30-$4.60 previously
- Announced restructuring actions for $7.5 million in annualized SG&A savings
The company cited operational challenges from SAP implementation and weak seasonal demand as factors impacting results.
Caleres (NYSE: CAL), a leading footwear brand portfolio company, has announced a regular quarterly cash dividend of $0.07 per share. The dividend will be paid on September 27, 2024, to shareholders of record as of September 13, 2024. This announcement highlights Caleres' commitment to shareholder returns, as the company has maintained a consistent quarterly dividend for over 100 years. The continuation of this long-standing dividend policy demonstrates Caleres' financial stability and dedication to providing value to its investors.
Allen Edmonds, a leading brand in the Caleres (NYSE: CAL) portfolio, has launched The Reserve Collection, showcasing over 100 years of American craftsmanship. This exclusive capsule represents the pinnacle of American shoemaking, featuring eight distinctive styles meticulously handcrafted in Port Washington, Wisconsin. The collection, priced from $800 to $3,000, uses the finest leathers and revitalized heritage machinery.
Jay Schmidt, CEO of Caleres, emphasized the collection's role in elevating American luxury and expanding Allen Edmonds' market presence. The Reserve Collection will be available in September at select retailers, supported by a campaign titled 'An Exhibition of Distinction', featuring model Sean O'Pry.
Caleres (NYSE: CAL), a leading portfolio of consumer-driven footwear brands, has announced its plans to release second quarter 2024 financial results on September 12, 2024, before the market opens. The company will host a conference call at 10 a.m. Eastern time to discuss the quarterly results and provide a business update. Investors can dial in using the numbers (877) 704-4453 for North America or (201) 389-0920 for international participants. The call will also be accessible via the "Investors" section of the Caleres website. A replay will be available until September 26, 2024, through various methods including phone and webcast.
Naturalizer, a Caleres (NYSE: CAL) brand, has launched a global inclusivity ambassador collective with founding members Deepica Mutyala and Lauren Chan. This initiative aims to advance the brand's commitment to inclusivity in fashion and create comfortable footwear designed for women's feet. The collective will drive conversations on inclusivity through digital campaigns and events over the next 12 months.
Naturalizer has also introduced Contoured Calf technology to address fit issues in tall shaft boots. The new collection offers sizes from 5M-12XW and extended calf sizing. This innovation is supported by the 'United in Fashion' campaign, featuring Chan and other thought leaders, promoting greater access to fashion that fits more women.
Caleres (NYSE: CAL) reported its first quarter 2024 financial results, achieving earnings per share of $0.88, surpassing expectations. The company generated a record first-quarter consolidated gross margin of 47%. Net sales were $659.2 million, down 0.5% from the previous year, with Famous Footwear segment net sales increasing by 0.1% while Brand Portfolio segment net sales declined by 2.6%.
Direct-to-consumer sales accounted for 69% of total net sales. The company reported a gross profit of $309.1 million and a gross margin of 46.9%, up 120 basis points from last year. SG&A expenses represented 40.4% of net sales.
Caleres reaffirmed its fiscal 2024 outlook, projecting net sales to be flat to up 2% and earnings per share to range between $4.30 and $4.60. The company also plans capital expenditures of $60 million to $70 million in 2024. Additionally, Caleres repurchased 416,000 shares of common stock for $15.1 million and returned $2.4 million to shareholders through dividends.
Caleres (NYSE: CAL), a leading portfolio of consumer-driven footwear brands, has declared a regular quarterly cash dividend of $0.07 per share. The dividend will be paid on June 20, 2024, to shareholders of record as of June 5, 2024. This announcement marks the continuation of a tradition, as the company has consistently paid a quarterly dividend for over 100 years.
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