Caleres Reports Fourth Quarter & Full Year Results and Provides 2025 Outlook
Caleres (NYSE: CAL) reported Q4 2024 financial results with sales of $639.2 million, down 8.3% year-over-year, and full-year sales of $2.72 billion, down 3.4%. The company posted Q4 earnings per diluted share of $0.15 and adjusted EPS of $0.33, while full-year EPS was $3.09 with adjusted EPS of $3.30.
Key highlights include:
- Famous Footwear segment saw Q4 net sales decrease 9.6% with comparable sales down 2.9%
- Brand Portfolio segment experienced a 7.2% Q4 net sales decline
- Direct-to-consumer sales represented 73% of total net sales
- Company returned $74.7 million to shareholders through dividends and share repurchases in fiscal 2024
Looking ahead, Caleres expects fiscal 2025 consolidated net sales to range between -1% to +1% compared to 2024, with projected earnings per diluted share of $2.80 to $3.20. The guidance excludes the planned Stuart Weitzman acquisition, expected to close in summer 2025.
Caleres (NYSE: CAL) ha riportato i risultati finanziari del quarto trimestre 2024 con vendite di 639,2 milioni di dollari, in calo dell'8,3% rispetto all'anno precedente, e vendite per l'intero anno di 2,72 miliardi di dollari, in calo del 3,4%. L'azienda ha registrato un utile per azione diluita di $0,15 nel quarto trimestre e un EPS rettificato di $0,33, mentre l'EPS per l'intero anno è stato di $3,09 con un EPS rettificato di $3,30.
I punti salienti includono:
- Il segmento Famous Footwear ha visto un calo delle vendite nette del 9,6% nel quarto trimestre, con vendite comparabili in calo del 2,9%
- Il segmento Brand Portfolio ha registrato un declino delle vendite nette del 7,2% nel quarto trimestre
- Le vendite dirette al consumatore hanno rappresentato il 73% delle vendite nette totali
- L'azienda ha restituito 74,7 milioni di dollari agli azionisti attraverso dividendi e riacquisti di azioni nel 2024
Guardando al futuro, Caleres prevede che le vendite nette consolidate per l'anno fiscale 2025 varieranno tra -1% e +1% rispetto al 2024, con un utile per azione diluita previsto tra $2,80 e $3,20. Le previsioni non includono l'acquisizione pianificata di Stuart Weitzman, che dovrebbe concludersi nell'estate del 2025.
Caleres (NYSE: CAL) informó los resultados financieros del cuarto trimestre de 2024 con ventas de $639.2 millones, una disminución del 8.3% en comparación con el año anterior, y ventas anuales de $2.72 mil millones, una caída del 3.4%. La compañía reportó ganancias por acción diluida de $0.15 en el cuarto trimestre y un EPS ajustado de $0.33, mientras que el EPS anual fue de $3.09 con un EPS ajustado de $3.30.
Los aspectos destacados incluyen:
- El segmento Famous Footwear vio una disminución del 9.6% en las ventas netas del cuarto trimestre, con ventas comparables en descenso del 2.9%
- El segmento Brand Portfolio experimentó una caída del 7.2% en las ventas netas del cuarto trimestre
- Las ventas directas al consumidor representaron el 73% de las ventas netas totales
- La compañía devolvió $74.7 millones a los accionistas a través de dividendos y recompra de acciones en el año fiscal 2024
De cara al futuro, Caleres espera que las ventas netas consolidadas para el año fiscal 2025 oscilen entre -1% y +1% en comparación con 2024, con ganancias por acción diluida proyectadas entre $2.80 y $3.20. La guía no incluye la adquisición planificada de Stuart Weitzman, que se espera cerrar en el verano de 2025.
칼레레스 (NYSE: CAL)는 2024년 4분기 재무 결과를 발표하며 매출이 6억 3천 9백 20만 달러로 전년 대비 8.3% 감소했으며, 연간 매출은 27억 2천만 달러로 3.4% 감소했다고 밝혔습니다. 회사는 4분기 희석 주당 순이익이 $0.15, 조정된 EPS가 $0.33이며, 연간 EPS는 $3.09, 조정된 EPS는 $3.30이라고 보고했습니다.
주요 하이라이트는 다음과 같습니다:
- Famous Footwear 부문은 4분기 순매출이 9.6% 감소하고 비교 가능한 매출이 2.9% 감소했습니다.
- Brand Portfolio 부문은 4분기 순매출이 7.2% 감소했습니다.
- 소비자 직접 판매는 총 순매출의 73%를 차지했습니다.
- 회사는 2024 회계연도에 배당금 및 자사주 매입을 통해 주주에게 7천 470만 달러를 반환했습니다.
미래를 바라보며, 칼레레스는 2025 회계연도 통합 순매출이 2024년 대비 -1%에서 +1% 사이가 될 것으로 예상하며, 희석 주당 순이익은 $2.80에서 $3.20 사이로 예상하고 있습니다. 이 가이드는 2025년 여름에 마감될 예정인 Stuart Weitzman 인수를 포함하지 않습니다.
Caleres (NYSE: CAL) a publié ses résultats financiers pour le quatrième trimestre 2024, avec des ventes de 639,2 millions de dollars, en baisse de 8,3 % par rapport à l'année précédente, et des ventes annuelles de 2,72 milliards de dollars, en baisse de 3,4 %. L'entreprise a affiché un bénéfice par action diluée de 0,15 $ au quatrième trimestre et un BPA ajusté de 0,33 $, tandis que le BPA annuel était de 3,09 $ avec un BPA ajusté de 3,30 $.
Les points saillants incluent :
- Le segment Famous Footwear a connu une baisse de 9,6 % de ses ventes nettes au quatrième trimestre, avec des ventes comparables en baisse de 2,9 %.
- Le segment Brand Portfolio a enregistré une baisse de 7,2 % des ventes nettes au quatrième trimestre.
- Les ventes directes aux consommateurs ont représenté 73 % des ventes nettes totales.
- L'entreprise a restitué 74,7 millions de dollars aux actionnaires par le biais de dividendes et de rachats d'actions au cours de l'exercice 2024.
En regardant vers l'avenir, Caleres s'attend à ce que les ventes nettes consolidées pour l'exercice 2025 varient entre -1 % et +1 % par rapport à 2024, avec un bénéfice par action diluée prévu entre 2,80 $ et 3,20 $. Les prévisions n'incluent pas l'acquisition prévue de Stuart Weitzman, qui devrait être finalisée à l'été 2025.
Caleres (NYSE: CAL) hat die finanziellen Ergebnisse für das vierte Quartal 2024 veröffentlicht, mit einem Umsatz von 639,2 Millionen Dollar, was einem Rückgang von 8,3 % im Vergleich zum Vorjahr entspricht, und einem Jahresumsatz von 2,72 Milliarden Dollar, was einem Rückgang von 3,4 % entspricht. Das Unternehmen meldete einen Gewinn pro verwässerter Aktie von 0,15 $ im vierten Quartal und einen bereinigten EPS von 0,33 $, während der EPS für das gesamte Jahr bei 3,09 $ und der bereinigte EPS bei 3,30 $ lag.
Wichtige Höhepunkte sind:
- Das Segment Famous Footwear verzeichnete im vierten Quartal einen Rückgang der Nettoumsätze um 9,6 %, wobei die vergleichbaren Umsätze um 2,9 % zurückgingen.
- Das Segment Brand Portfolio erlebte einen Rückgang der Nettoumsätze um 7,2 % im vierten Quartal.
- Direktvertrieb an Verbraucher machte 73 % des gesamten Nettoumsatzes aus.
- Das Unternehmen gab 74,7 Millionen Dollar an die Aktionäre durch Dividenden und Aktienrückkäufe im Geschäftsjahr 2024 zurück.
Für die Zukunft erwartet Caleres, dass die konsolidierten Nettoumsätze für das Geschäftsjahr 2025 im Vergleich zu 2024 zwischen -1 % und +1 % liegen werden, mit einem prognostizierten Gewinn pro verwässerter Aktie von 2,80 $ bis 3,20 $. Die Prognose schließt die geplante Übernahme von Stuart Weitzman ein, die voraussichtlich im Sommer 2025 abgeschlossen wird.
- Returned $74.7M to shareholders through dividends and share repurchases
- Direct-to-consumer sales strong at 73% of total net sales
- Brand Portfolio segment gross margin improved 80 basis points to 43.7% in FY2024
- Gained market share in women's fashion footwear
- Lead Brands outperformed and increased sneaker penetration
- Q4 sales declined 8.3% to $639.2M year-over-year
- Full-year sales dropped 3.4% to $2.72B
- Q4 net earnings fell to $4.9M from $55.8M in prior year
- Famous Footwear segment performance weakened with 9.6% sales decline
- SG&A expenses increased 180 basis points as percentage of sales
- Inventory levels up 4.5% despite sales decline
Insights
Caleres reported Q4 sales of $639.2 million (down 8.3% YoY) and full-year sales of $2.72 billion (down 3.4% YoY). The company's Q4 adjusted EPS of $0.33 and full-year adjusted EPS of $3.30 reached the high end of previous guidance, but still declined significantly compared to the $0.86 and $4.18 reported in the prior year.
The financial guidance for 2025 signals continued challenges ahead, with sales projected between -1% to +1% and EPS expected between $2.80-$3.20, representing a potential year-over-year earnings decline of up to 15%. This outlook excludes the pending $105 million Stuart Weitzman acquisition.
Margin pressure is evident in the results, with Q4 gross margin contracting 80 basis points to 43.0% while SG&A expenses increased 180 basis points to 40.9% of sales, reflecting negative operating leverage from declining revenues. Full-year adjusted EBITDA margin compressed to 8.0% of sales.
The company continues prioritizing shareholder returns, delivering $74.7 million through dividends and share repurchases despite deteriorating performance. Inventory increased 4.5% against declining sales, potentially indicating merchandise accumulation issues requiring future markdown pressure.
Caleres is making strategic adjustments to mitigate external pressures, particularly accelerating sourcing diversification with 75% of Brand Portfolio production expected outside China by H2 2025. While gaining market share in women's fashion footwear, Famous Footwear's softening performance remains concerning.
Caleres' results reflect the ongoing challenges in specialty footwear retail, with the company's direct-to-consumer channels (representing 72% of total revenue) unable to fully offset broader consumer spending pressures. The Famous Footwear segment's 9.6% revenue decline and 2.9% comparable sales drop in Q4 indicate weakening consumer demand in the value footwear segment.
The company's strategic prioritization of its "Lead Brands" is delivering market share gains in women's fashion footwear, but not enough to counterbalance overall category weakness. The increased focus on contemporary styles and expanding sneaker penetration demonstrates appropriate tactical responses to shifting consumer preferences.
Supply chain evolution remains critical as tariff pressures intensify. Caleres' accelerated sourcing diversification strategy—targeting 75% of Brand Portfolio production outside China by late 2025—represents a significant operational pivot. This transition will likely involve short-term margin pressures but positions the company for greater long-term resilience against geopolitical disruptions.
The planned Stuart Weitzman acquisition signals Caleres' commitment to strengthening its premium portfolio despite current headwinds. This acquisition adds a recognized luxury footwear brand to complement their existing portfolio, potentially providing higher-margin opportunities as consumer spending eventually normalizes.
Management's candid acknowledgment that 2024 was "disappointing relative to initial expectations" reflects the reality many specialty retailers face: persistent inflation and cautious consumer spending requiring more conservative operational approaches. The company's inventory management will be important to watch, as the 4.5% inventory increase against declining sales could signal potential markdown risks in upcoming quarters.
-
Reported fourth quarter sales of
, down$639.2 million 8.3% year-on-year, and full-year sales of , down$2,722.7 million 3.4% year-on-year and in line with our most recent guidance; -
Reported fourth quarter and full year earnings per diluted share of
and$0.15 , respectively, and fourth quarter and full year adjusted earnings per diluted share of$3.09 and$0.33 , respectively, at the high end of our most recent guidance;$3.30 -
Returned
to shareholders in fiscal 2024 through share repurchases and quarterly dividends;$74.7 million -
Now expects
75% of our Brand Portfolio, and an even greater percentage of our Lead Brands’ sourcing to be outside ofChina by the second half of 2025 -
Expects fiscal 2025 consolidated net sales to be down
1% to up1% compared to fiscal 2024; -
Expects fiscal 2025 earnings per diluted share of
to$2.80 ;$3.20 - Guidance excludes the previously announced acquisition of Stuart Weitzman, which is expected to close in the summer of 2025.

Sam Edelman Sarita Sneaker and Miles Sneaker
“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. We invested to support our long-term growth while continuing to evolve our supply chain and further mitigate the impact of additional tariffs,” said Jay Schmidt, president and chief executive officer. “While 2024 overall was disappointing relative to our initial expectations, we made meaningful progress in advancing our strategic priorities and positioning our brands for sustainable growth. We also returned
“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. Despite this posture, I am optimistic about what we have in store for 2025. Our Lead Brands remain strong and are collectively gaining market share, and we have expanded our customer reach with greater focus on the significant opportunity we see in contemporary,” said Schmidt. “The hard work of our talented teams and the impact of new leadership across several areas of our business, along with strategic brand partnerships and the planned acquisition of Stuart Weitzman, position us well to drive significant value in 2025 and beyond.”
Fourth Quarter 2024 Results
(13 weeks ended February 1, 2025, compared to 14 weeks ended February 3, 2024)
-
Net sales:
, down$639.2 million 8.3% year-over-year, with net sales excluding the impact of the 53rd week down4.0% -
Famous Footwear segment: Net sales decreased
9.6% , with comparable sales down2.9% -
Brand Portfolio segment: Net sales decreased
7.2%
-
Famous Footwear segment: Net sales decreased
-
Direct-to-consumer sales: Represented about
73% of total net sales -
Gross profit:
, with gross margin at$275.1 million 43.0% , down 80 basis points year-over-year-
Famous Footwear segment gross margin:
42.5% , down 40 basis points -
Brand Portfolio segment gross margin:
41.6% , down 100 basis points
-
Famous Footwear segment gross margin:
-
SG&A expenses:
40.9% of net sales, up 180 basis points compared to the prior year, reflecting expense deleverage due to the decline in sales -
Net earnings:
, or earnings per diluted share of$4.9 million , compared to net earnings of$0.15 , or earnings per diluted share of$55.8 million in the fourth quarter of 2023. Adjusted net earnings were$1.57 , or adjusted earnings per diluted share of$11.1 million , compared to adjusted net earnings of$0.33 , or adjusted earnings per diluted share of$30.8 million , in the fourth quarter of 2023.$0.86
Fiscal Year 2024 Results
(52-weeks ended February 1, 2025, compared to 53-weeks ended February 3, 2024)
-
Net sales:
, down$2.72 billion 3.4% from 2023-
Famous Footwear segment: Net sales declined
3.3% -
Brand Portfolio segment: Net sales declined
3.5% -
Direct-to-consumer sales: Represented about
72% of total net sales
-
Famous Footwear segment: Net sales declined
-
Gross profit:
with a gross margin of$1.22 billion 44.9% , up 10 basis points to 2023-
Famous Footwear segment gross margin:
44.1% , down 60 basis points to 2023 -
Brand Portfolio segment gross margin:
43.7% , up 80 basis points to 2023
-
Famous Footwear segment gross margin:
-
SG&A expenses:
39.1% of net sales, up 140 basis points compared to the prior year, reflecting inflationary factors and strategic investments -
Net earnings:
, down$107.3 million from 2023 and adjusted net earnings of$64.1 million , down$114.6 million from 2023$34.7 million -
Earnings per diluted share of
as compared with earnings per diluted share of$3.09 in 2023, and adjusted earnings per diluted share of$4.80 versus$3.30 in 2023$4.18 -
EBITDA:
, or$206.7 million 7.6% of sales, and adjusted EBITDA of or$216.6 million 8.0% of sales -
Inventory: Up
4.5% compared to 2023 -
Borrowings: Under the asset-based revolving credit facility, borrowings were
at the end of the period$219.5 million
Fiscal 2024 & Fourth Quarter Negative Impact from 53rd Week
Fiscal 2024 |
Fourth Quarter |
|
Consolidated Net Sales |
|
|
Famous Footwear Sales |
|
|
Brand Portfolio Sales |
|
|
Capital Allocation Update
During fiscal 2024, Caleres continued to invest in value-driving growth opportunities while at the same time returning
Fiscal 2025 Outlook
Metric |
2025 Annual Guidance |
Net Sales |
Down |
Operating Margin |
|
Tax Rate |
~ |
GAAP EPS |
|
Capital Expenditures |
|
First Quarter 2025 Outlook
Metric |
First Quarter Guidance |
Net Sales |
Down |
GAAP EPS |
|
Investor Conference Call
Caleres company executives will host a conference call at 10:00 a.m. ET today, Thursday, March 20, 2025. The webcast and associated slides will be available at investor.caleres.com/events-and-presentations. A live conference call will be available at (877) 704-4453 for
Definitions
All references in this press release, outside of the condensed consolidated financial statements that follow, unless otherwise noted, related to net earnings attributable to Caleres, Inc. and diluted earnings per common share attributable to Caleres, Inc. shareholders, are presented as net earnings and earnings per diluted share, respectively.
Non-GAAP Financial Measures and Metrics
In this press release, the company’s financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures and metrics. In particular, the company provides earnings before interest, taxes, depreciation and amortization (EBITDA) and estimated and future operating earnings, net earnings and earnings per diluted share, adjusted to exclude certain gains, charges and recoveries, which are non-GAAP financial measures, and the debt to EBITDA leverage ratio, which is a non-GAAP financial metric. These results are included as a complement to results provided in accordance with GAAP because management believes this non-GAAP financial measure and metric help identify underlying trends in the company’s business and provide useful information to both management and investors by excluding certain items that may not be indicative of the company’s core operating results. This measure and metric should not be considered a substitute for or superior to GAAP results.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements and expectations regarding the company’s future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changes in
SCHEDULE 1 |
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||||||||||||||||
CALERES, INC. |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
(Unaudited) |
|||||||||||||||
|
|
Thirteen Weeks
|
|
Fourteen Weeks
|
|
Fifty-two
|
|
Fifty-three
|
||||||||
($ thousands, except per share data) |
|
February 1, 2025 |
|
February 3, 2024 |
|
February 1, 2025 |
|
February 3, 2024 |
||||||||
Net sales |
|
$ |
639,226 |
|
|
$ |
697,123 |
|
|
$ |
2,722,683 |
|
|
$ |
2,817,294 |
|
Cost of goods sold |
|
|
364,118 |
|
|
|
391,395 |
|
|
|
1,500,641 |
|
|
|
1,554,337 |
|
Gross profit |
|
|
275,108 |
|
|
|
305,728 |
|
|
|
1,222,042 |
|
|
|
1,262,957 |
|
Selling and administrative expenses |
|
|
261,664 |
|
|
|
272,830 |
|
|
|
1,065,019 |
|
|
|
1,062,399 |
|
Restructuring and other special charges, net |
|
|
5,574 |
|
|
|
2,151 |
|
|
|
7,167 |
|
|
|
6,103 |
|
Operating earnings |
|
|
7,870 |
|
|
|
30,747 |
|
|
|
149,856 |
|
|
|
194,455 |
|
Interest expense, net |
|
|
(3,932 |
) |
|
|
(4,103 |
) |
|
|
(13,957 |
) |
|
|
(19,343 |
) |
Other (expense) income, net |
|
|
(2,944 |
) |
|
|
1,550 |
|
|
|
(741 |
) |
|
|
6,210 |
|
Earnings before income taxes |
|
|
994 |
|
|
|
28,194 |
|
|
|
135,158 |
|
|
|
181,322 |
|
Income tax benefit (provision) |
|
|
2,913 |
|
|
|
27,466 |
|
|
|
(29,061 |
) |
|
|
(9,490 |
) |
Net earnings |
|
|
3,907 |
|
|
|
55,660 |
|
|
|
106,097 |
|
|
|
171,832 |
|
Net (loss) earnings attributable to noncontrolling interests |
|
|
(1,023 |
) |
|
|
(148 |
) |
|
|
(1,158 |
) |
|
|
441 |
|
Net earnings attributable to Caleres, Inc. |
|
$ |
4,930 |
|
|
$ |
55,808 |
|
|
$ |
107,255 |
|
|
$ |
171,391 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.15 |
|
|
$ |
1.57 |
|
|
$ |
3.10 |
|
|
$ |
4.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Diluted earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.15 |
|
|
$ |
1.57 |
|
|
$ |
3.09 |
|
|
$ |
4.80 |
|
SCHEDULE 2 | ||||||
|
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CALERES, INC. | ||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
|
||||||
|
|
(Unaudited) |
||||
($ thousands) |
|
February 1, 2025 |
|
February 3, 2024 |
||
ASSETS |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
29,636 |
|
$ |
21,358 |
Receivables, net |
|
|
155,905 |
|
|
140,400 |
Inventories, net |
|
|
565,241 |
|
|
540,674 |
Property and equipment, held for sale |
|
|
16,777 |
|
|
16,777 |
Prepaid expenses and other current assets |
|
|
68,950 |
|
|
69,700 |
Total current assets |
|
|
836,509 |
|
|
788,909 |
|
|
|
|
|
|
|
Lease right-of-use assets |
|
|
564,330 |
|
|
528,029 |
Property and equipment, net |
|
|
175,213 |
|
|
167,583 |
Goodwill and intangible assets, net |
|
|
192,274 |
|
|
203,310 |
Other assets |
|
|
126,428 |
|
|
116,915 |
Total assets |
|
$ |
1,894,754 |
$ |
1,804,746 |
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
||
Borrowings under revolving credit agreement |
|
$ |
219,500 |
|
$ |
182,000 |
Trade accounts payable |
|
|
237,038 |
|
|
251,912 |
Lease obligations |
|
|
127,522 |
|
|
112,764 |
Other accrued expenses |
|
|
173,873 |
|
|
196,280 |
Total current liabilities |
|
|
757,933 |
|
|
742,956 |
|
|
|
|
|
|
|
Noncurrent lease obligations |
|
|
479,524 |
|
|
453,097 |
Other liabilities |
|
|
51,348 |
|
|
41,123 |
Total other liabilities |
|
|
530,872 |
|
|
494,220 |
|
|
|
|
|
|
|
Total Caleres, Inc. shareholders’ equity |
|
|
599,024 |
|
|
560,631 |
Noncontrolling interests |
|
|
6,925 |
|
|
6,939 |
Total equity |
|
|
605,949 |
|
|
567,570 |
Total liabilities and equity |
|
$ |
1,894,754 |
|
$ |
1,804,746 |
|
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SCHEDULE 3 | ||||||||
|
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CALERES, INC. | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
||||||||
|
|
(Unaudited) |
||||||
|
|
Fifty-two
|
|
Fifty-three
|
||||
($ thousands) |
|
February 1, 2025 |
|
February 3, 2024 |
||||
OPERATING ACTIVITIES: |
|
|
|
|
|
|
||
Net cash provided by operating activities |
|
$ |
104,562 |
|
|
$ |
200,151 |
|
|
|
|
|
|
|
|
||
INVESTING ACTIVITIES: |
|
|
|
|
|
|
||
Purchases of property and equipment |
|
|
(49,147 |
) |
|
|
(44,584 |
) |
Capitalized software |
|
|
(2,539 |
) |
|
|
(5,034 |
) |
Net cash used for investing activities |
|
|
(51,686 |
) |
|
|
(49,618 |
) |
|
|
|
|
|
|
|
||
FINANCING ACTIVITIES: |
|
|
|
|
|
|
||
Borrowings under revolving credit agreement |
|
|
639,868 |
|
|
|
532,500 |
|
Repayments under revolving credit agreement |
|
|
(602,368 |
) |
|
|
(658,000 |
) |
Dividends paid |
|
|
(9,694 |
) |
|
|
(9,954 |
) |
Acquisition of treasury stock |
|
|
(65,039 |
) |
|
|
(17,445 |
) |
Issuance of common stock under share-based plans, net |
|
|
(9,276 |
) |
|
|
(11,094 |
) |
Contributions by noncontrolling interests |
|
|
2,000 |
|
|
|
1,000 |
|
Net cash used for financing activities |
|
|
(44,509 |
) |
|
|
(162,993 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
|
(89 |
) |
|
|
118 |
|
Increase (decrease) in cash and cash equivalents |
|
|
8,278 |
|
|
|
(12,342 |
) |
Cash and cash equivalents at beginning of period |
|
|
21,358 |
|
|
|
33,700 |
|
Cash and cash equivalents at end of period |
|
$ |
29,636 |
|
|
$ |
21,358 |
|
SCHEDULE 4 | ||||||||||||||||||||
|
||||||||||||||||||||
CALERES, INC. | ||||||||||||||||||||
RECONCILIATION OF NET EARNINGS AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO | ||||||||||||||||||||
ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) | ||||||||||||||||||||
|
|
(Unaudited) |
||||||||||||||||||
|
|
Thirteen Weeks Ended |
|
Fourteen Weeks Ended |
||||||||||||||||
|
|
February 1, 2025 |
|
February 3, 2024 |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Pre-Tax |
|
Net Earnings |
|
|
|
|
Pre-Tax |
|
Net Earnings |
|
|
|||||||
|
|
Impact of |
|
Attributable |
|
|
Diluted |
|
Impact of |
|
Attributable |
|
Diluted |
|||||||
|
|
Charges/Other |
|
to Caleres, |
|
|
Earnings |
|
Charges/Other |
|
to Caleres, |
|
Earnings |
|||||||
($ thousands, except per share data) |
|
Items |
|
Inc. |
|
|
Per Share |
|
Items |
|
Inc. |
|
Per Share |
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
GAAP earnings |
|
|
|
|
$ |
4,930 |
|
$ |
0.15 |
|
|
|
|
$ |
55,808 |
|
|
$ |
1.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Charges/other items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Exit of Naturalizer retail store operations |
|
$ |
4,216 |
|
|
3,131 |
|
|
0.09 |
|
|
— |
|
|
— |
|
|
|
— |
|
Restructuring costs |
|
|
1,359 |
|
|
1,009 |
|
|
0.03 |
|
|
— |
|
|
— |
|
|
|
— |
|
Pension settlement cost |
|
|
2,716 |
|
|
2,017 |
|
|
0.06 |
|
|
— |
|
|
— |
|
|
|
— |
|
Deferred tax valuation allowances adjustment |
|
|
— |
|
|
— |
|
|
— |
|
$ |
— |
|
|
(26,654 |
) |
|
|
(0.76 |
) |
Expense reduction initiatives |
|
|
— |
|
|
— |
|
|
— |
|
|
2,151 |
|
|
1,597 |
|
|
|
0.05 |
|
Total charges/other items |
|
$ |
8,291 |
|
$ |
6,157 |
|
$ |
0.18 |
|
$ |
2,151 |
|
$ |
(25,057 |
) |
|
$ |
(0.71 |
) |
Adjusted earnings |
|
|
|
|
$ |
11,087 |
|
$ |
0.33 |
|
|
|
|
$ |
30,751 |
|
|
$ |
0.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
(Unaudited) |
||||||||||||||||||
|
|
Fifty-two Weeks Ended |
|
Fifty-three Weeks Ended |
||||||||||||||||
|
|
February 1, 2025 |
|
February 3, 2024 |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Pre-Tax |
|
Net Earnings |
|
|
|
Pre-Tax |
|
Net Earnings |
|
|
||||||||
|
|
Impact of |
|
Attributable |
|
Diluted |
|
Impact of |
|
Attributable |
|
Diluted |
||||||||
|
|
Charges/Other |
|
to Caleres, |
|
Earnings |
|
Charges/Other |
|
to Caleres, |
|
Earnings |
||||||||
($ thousands, except per share data) |
|
Items |
|
Inc. |
|
Per Share |
|
Items |
|
Inc. |
|
Per Share |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
GAAP earnings |
|
|
|
|
$ |
107,255 |
|
$ |
3.09 |
|
|
|
|
$ |
171,391 |
|
|
$ |
4.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Charges/other items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Exit of Naturalizer retail store operations |
|
$ |
4,216 |
|
|
3,131 |
|
|
0.09 |
|
$ |
— |
|
|
— |
|
|
|
— |
|
Restructuring costs |
|
|
2,951 |
|
|
2,192 |
|
|
0.06 |
|
|
— |
|
|
— |
|
|
|
— |
|
Pension settlement cost |
|
|
2,716 |
|
|
2,017 |
|
|
0.06 |
|
|
— |
|
|
— |
|
|
|
— |
|
Deferred tax valuation allowances adjustment |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(26,654 |
) |
|
|
(0.75 |
) |
|
Expense reduction initiatives |
|
|
— |
|
|
— |
|
|
— |
|
|
6,103 |
|
|
4,532 |
|
|
|
0.13 |
|
Total charges/other items |
|
$ |
9,883 |
|
$ |
7,340 |
|
$ |
0.21 |
|
$ |
6,103 |
|
$ |
(22,122 |
) |
|
$ |
(0.62 |
) |
Adjusted earnings |
|
|
|
|
$ |
114,595 |
|
$ |
3.30 |
|
|
|
|
$ |
149,269 |
|
|
$ |
4.18 |
|
SCHEDULE 5 | ||||||||
|
||||||||
CALERES, INC. | ||||||||
SUMMARY FINANCIAL RESULTS BY SEGMENT |
SUMMARY FINANCIAL RESULTS |
|
|
(Unaudited) |
|
|||||||||||||||||||||||||||||
|
|
Famous Footwear |
|
Brand Portfolio |
|
Eliminations and Other |
|
Consolidated |
|
|||||||||||||||||||||||
|
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
|
|||||||||||||||
|
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
|||||||||||||||
($ thousands) |
|
2025 |
|
|
2024 |
|
|
2025 |
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
2024 |
|
||||||||||
Net sales |
|
$ |
358,351 |
|
|
$ |
396,227 |
|
|
$ |
300,318 |
|
$ |
323,689 |
|
|
$ |
(19,443 |
) |
|
$ |
(22,793 |
) |
|
$ |
639,226 |
|
$ |
697,123 |
|
||
Gross profit |
|
|
152,461 |
|
|
|
170,129 |
|
|
|
125,041 |
|
|
137,868 |
|
|
|
(2,393 |
) |
|
|
(2,269 |
) |
|
|
275,109 |
|
|
305,728 |
|
||
Gross margin |
|
|
42.5 |
% |
|
|
42.9 |
% |
|
|
41.6 |
% |
|
42.6 |
% |
|
|
12.3 |
% |
|
|
10.0 |
% |
|
|
43.0 |
% |
|
43.9 |
% |
||
Operating earnings (loss) |
|
|
6,267 |
|
|
|
19,551 |
|
|
|
23,026 |
|
|
37,751 |
|
|
|
(21,423 |
) |
|
|
(26,555 |
) |
|
|
7,870 |
|
|
30,747 |
|
||
Adjusted operating earnings (loss) |
|
|
6,713 |
|
|
|
19,551 |
|
|
|
28,277 |
|
|
38,634 |
|
|
|
(21,546 |
) |
|
|
(25,287 |
) |
|
|
13,444 |
|
|
32,898 |
|
||
Operating margin |
|
|
1.7 |
% |
|
|
4.9 |
% |
|
|
7.7 |
% |
|
11.7 |
% |
|
|
n/m |
% |
|
|
n/m |
% |
|
|
1.2 |
% |
|
4.4 |
% |
||
Adjusted operating earnings % |
|
|
1.9 |
% |
|
|
4.9 |
% |
|
|
9.4 |
% |
|
11.9 |
% |
|
|
n/m |
% |
|
|
n/m |
% |
|
|
2.1 |
% |
|
4.7 |
% |
||
Comparable sales % (on a 13-week basis) |
|
|
(2.9 |
)% |
|
(5.9 |
)% |
|
|
0.5 |
% |
|
(3.8 |
)% |
|
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
— |
% |
|||
Company-operated stores, end of period |
|
|
846 |
|
|
|
860 |
|
|
|
114 |
|
|
98 |
|
|
|
— |
|
|
|
— |
|
|
|
960 |
|
|
958 |
|
||
|
||||||||||||||||||||||||||||||||
n/m – Not meaningful |
RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
(Unaudited) |
||||||||||||||||||||||||
|
|
Famous Footwear |
|
Brand Portfolio |
|
Eliminations and Other |
|
Consolidated |
||||||||||||||||||
|
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
|
13 weeks ended |
|
14 weeks ended |
||||||||||
|
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
||||||||||
($ thousands) |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
2025 |
|
|
2024 |
|
|
2025 |
|
2024 |
||||||||
Operating earnings (loss) |
|
$ |
6,267 |
|
$ |
19,551 |
|
$ |
23,026 |
|
$ |
37,751 |
|
$ |
(21,423 |
) |
|
$ |
(26,555 |
) |
|
$ |
7,870 |
|
$ |
30,747 |
Charges/Other Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Restructuring costs |
|
|
446 |
|
|
— |
|
|
5,251 |
|
|
— |
|
|
(123 |
) |
|
|
— |
|
|
|
5,574 |
|
|
— |
Expense reduction initiatives |
|
|
— |
|
|
— |
|
|
— |
|
|
883 |
|
|
— |
|
|
|
1,268 |
|
|
|
— |
|
|
2,151 |
Total charges/other items |
|
|
446 |
|
|
— |
|
|
5,251 |
|
|
883 |
|
|
(123 |
) |
|
|
1,268 |
|
|
|
5,574 |
|
|
2,151 |
Adjusted operating earnings (loss) |
|
$ |
6,713 |
|
$ |
19,551 |
|
$ |
28,277 |
|
$ |
38,634 |
|
$ |
(21,546 |
) |
|
$ |
(25,287 |
) |
|
$ |
13,444 |
|
$ |
32,898 |
SCHEDULE 5 | ||||||||
|
||||||||
CALERES, INC. | ||||||||
SUMMARY FINANCIAL RESULTS BY SEGMENT |
SUMMARY FINANCIAL RESULTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
(Unaudited) |
|
|||||||||||||||||||||||||||||
|
|
Famous Footwear |
Brand Portfolio |
Eliminations and Other |
Consolidated |
|
||||||||||||||||||||||||||
|
|
52 weeks ended |
53 weeks ended |
52 weeks ended |
53 weeks ended |
52 weeks ended |
53 weeks ended |
52 weeks ended |
53 weeks ended |
|
||||||||||||||||||||||
|
|
February 1, |
February 3, |
February 1, |
February 3, |
February 1, |
February 3, |
February 1, |
February 3, |
|
||||||||||||||||||||||
($ thousands) |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||||||||||||
Net sales |
|
$ |
1,556,456 |
|
$ |
1,609,396 |
|
$ |
1,225,963 |
|
$ |
1,270,853 |
|
$ |
(59,736 |
) |
$ |
(62,955 |
) |
$ |
2,722,683 |
|
$ |
2,817,294 |
|
|||||||
Gross profit |
|
|
686,627 |
|
|
719,549 |
|
|
536,295 |
|
|
546,005 |
|
|
(880 |
) |
|
(2,597 |
) |
|
1,222,042 |
|
|
1,262,957 |
|
|||||||
Gross profit rate |
|
|
44.1 |
% |
|
44.7 |
% |
|
43.7 |
% |
|
43.0 |
% |
|
1.5 |
% |
|
4.1 |
% |
|
44.9 |
% |
|
44.8 |
% |
|||||||
Operating earnings (loss) |
|
|
87,076 |
|
|
123,838 |
|
|
122,122 |
|
|
145,459 |
|
|
(59,342 |
) |
|
(74,842 |
) |
|
149,856 |
|
|
194,455 |
|
|||||||
Adjusted operating earnings (loss) |
|
|
87,715 |
|
|
125,204 |
|
128,465 |
|
|
148,067 |
|
|
(59,157 |
) |
|
(72,713 |
) |
|
157,023 |
|
|
200,558 |
|
||||||||
Operating earnings % |
|
|
5.6 |
% |
|
7.7 |
% |
|
10.0 |
% |
|
11.4 |
% |
|
n/m |
% |
|
n/m |
% |
|
5.5 |
% |
|
6.9 |
% |
|||||||
Adjusted operating earnings % |
|
|
5.6 |
% |
|
7.8 |
% |
|
10.5 |
% |
|
11.7 |
% |
|
n/m |
% |
|
n/m |
% |
|
5.8 |
% |
|
7.1 |
% |
|||||||
Comparable sales % (on a 52-week basis) |
|
|
(1.3 |
)% |
|
(6.3 |
)% |
0.3 |
% |
|
1.3 |
% |
|
— |
% |
|
— |
% |
|
— |
% |
|
— |
% |
||||||||
Company-operated stores, end of period |
|
|
846 |
|
|
860 |
|
114 |
|
|
98 |
|
|
— |
|
|
— |
|
|
960 |
|
|
958 |
|
||||||||
|
||||||||||||||||||||||||||||||||
n/m – Not meaningful |
RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
(Unaudited) |
||||||||||||||||||||||||
|
|
Famous Footwear |
|
Brand Portfolio |
|
Eliminations and Other |
|
Consolidated |
||||||||||||||||||
|
|
52 weeks ended |
|
53 weeks ended |
|
52 weeks ended |
|
53 weeks ended |
|
52 weeks ended |
|
53 weeks ended |
|
52 weeks ended |
|
53 weeks ended |
||||||||||
|
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
||||||||||
($ thousands) |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
2025 |
|
|
2024 |
|
|
2025 |
|
2024 |
||||||||
Operating earnings (loss) |
|
$ |
87,076 |
|
$ |
123,838 |
|
$ |
122,122 |
|
$ |
145,459 |
|
$ |
(59,342 |
) |
|
$ |
(74,842 |
) |
|
$ |
149,856 |
|
$ |
194,455 |
Charges/Other Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Restructuring costs |
|
|
639 |
|
|
— |
|
|
6,343 |
|
|
— |
|
|
185 |
|
|
|
— |
|
|
|
7,167 |
|
|
— |
Expense reduction initiatives |
|
|
— |
|
|
1,366 |
|
|
— |
|
|
2,608 |
|
|
— |
|
|
|
2,129 |
|
|
|
— |
|
|
6,103 |
Total charges/other items |
|
|
639 |
|
|
1,366 |
|
|
6,343 |
|
|
2,608 |
|
|
185 |
|
|
|
2,129 |
|
|
|
7,167 |
|
|
6,103 |
Adjusted operating earnings (loss) |
|
$ |
87,715 |
|
$ |
125,204 |
|
$ |
128,465 |
|
$ |
148,067 |
|
$ |
(59,157 |
) |
|
$ |
(72,713 |
) |
|
$ |
157,023 |
|
$ |
200,558 |
SCHEDULE 6 | ||||||||||||||||
|
||||||||||||||||
CALERES, INC. | ||||||||||||||||
BASIC AND DILUTED EARNINGS PER SHARE RECONCILIATION | ||||||||||||||||
|
||||||||||||||||
|
|
(Unaudited) |
||||||||||||||
|
|
Thirteen Weeks Ended |
|
Fourteen Weeks Ended |
|
Fifty-two Weeks Ended |
|
Fifty-three Weeks Ended |
||||||||
|
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
||||||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||||
($ thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net earnings attributable to Caleres, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net earnings |
|
$ |
3,907 |
|
|
$ |
55,660 |
|
|
$ |
106,097 |
|
|
$ |
171,832 |
|
Net loss (earnings) attributable to noncontrolling interests |
|
|
1,023 |
|
|
|
148 |
|
|
|
1,158 |
|
|
|
(441 |
) |
Net earnings attributable to Caleres, Inc. |
|
|
4,930 |
|
|
|
55,808 |
|
|
|
107,255 |
|
|
|
171,391 |
|
Net earnings allocated to participating securities |
|
|
(165 |
) |
|
|
(2,414 |
) |
|
|
(3,839 |
) |
|
|
(7,517 |
) |
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities |
|
$ |
4,765 |
|
|
$ |
53,394 |
|
|
$ |
103,416 |
|
|
$ |
163,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted common shares attributable to Caleres, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic common shares |
|
|
32,477 |
|
|
|
33,965 |
|
|
|
33,397 |
|
|
|
34,142 |
|
Dilutive effect of share-based awards |
|
|
147 |
|
|
|
115 |
|
|
|
116 |
|
|
|
10 |
|
Diluted common shares attributable to Caleres, Inc. |
|
|
32,624 |
|
|
|
34,080 |
|
|
|
33,513 |
|
|
|
34,152 |
|
|
|
|
|
|
|
|||||||||||
Basic earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.15 |
|
|
$ |
1.57 |
|
|
$ |
3.10 |
|
|
$ |
4.80 |
|
|
|
|
|
|
||||||||||||
Diluted earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.15 |
|
|
$ |
1.57 |
|
|
$ |
3.09 |
|
|
$ |
4.80 |
|
|
||||||||||||||||
SCHEDULE 7 | ||||||||||||||||
|
||||||||||||||||
CALERES, INC. | ||||||||||||||||
BASIC AND DILUTED ADJUSTED EARNINGS PER SHARE RECONCILIATION | ||||||||||||||||
|
||||||||||||||||
|
|
(Unaudited) |
||||||||||||||
|
|
Thirteen Weeks Ended |
|
Fourteen Weeks Ended |
|
Fifty-Two Weeks Ended |
|
Fifty-Three Weeks Ended |
||||||||
|
|
February 1, |
|
February 3, |
|
February 1, |
|
February 3, |
||||||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||||
($ thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted net earnings attributable to Caleres, Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjusted net earnings |
|
$ |
10,064 |
|
|
$ |
30,603 |
|
|
$ |
113,437 |
|
|
$ |
149,710 |
|
Net loss (earnings) attributable to noncontrolling interests |
|
|
1,023 |
|
|
|
148 |
|
|
|
1,158 |
|
|
|
(441 |
) |
Adjusted net earnings attributable to Caleres, Inc. |
|
|
11,087 |
|
|
|
30,751 |
|
|
|
114,595 |
|
|
|
149,269 |
|
Net earnings allocated to participating securities |
|
|
(377 |
) |
|
|
(1,324 |
) |
|
|
(4,106 |
) |
|
|
(6,537 |
) |
Adjusted net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities |
|
$ |
10,710 |
|
|
$ |
29,427 |
|
|
$ |
110,489 |
|
|
$ |
142,732 |
|
|
|
|
|
|
|
|||||||||||
Basic and diluted common shares attributable to Caleres, Inc.: |
|
|
|
|
|
|
|
|
|
|
||||||
Basic common shares |
|
|
32,477 |
|
|
|
33,965 |
|
|
|
33,397 |
|
|
|
34,142 |
|
Dilutive effect of share-based awards |
|
|
147 |
|
|
|
115 |
|
|
|
116 |
|
|
|
10 |
|
Diluted common shares attributable to Caleres, Inc. |
|
|
32,624 |
|
|
|
34,080 |
|
|
|
33,513 |
|
|
|
34,152 |
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic adjusted earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.33 |
|
|
$ |
0.87 |
|
|
$ |
3.31 |
|
|
$ |
4.18 |
|
|
|
|
|
|
|
|
|
|
|
|||||||
Diluted adjusted earnings per common share attributable to Caleres, Inc. shareholders |
|
$ |
0.33 |
|
|
$ |
0.86 |
|
|
$ |
3.30 |
|
|
$ |
4.18 |
|
SCHEDULE 8 | ||||||||
|
||||||||
CALERES, INC. | ||||||||
CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) | ||||||||
|
||||||||
|
|
(Unaudited) |
||||||
|
|
Thirteen Weeks Ended |
|
|
Fourteen Weeks Ended |
|
||
($ thousands) |
|
February 1, 2025 |
|
February 3, 2024 |
||||
EBITDA: |
|
|
|
|
|
|
|
|
Net earnings attributable to Caleres, Inc. |
|
$ |
4,930 |
|
|
$ |
55,808 |
|
Income tax provision |
|
|
(2,913) |
|
|
|
(27,466) |
|
Interest expense, net |
|
|
3,932 |
|
|
|
4,103 |
|
Depreciation and amortization (1) |
|
|
14,756 |
|
|
14,875 |
|
|
EBITDA |
|
$ |
20,705 |
|
$ |
47,320 |
|
|
|
|
|
|
|
|
|
|
|
EBITDA margin |
|
|
3.2 |
% |
|
|
6.8 |
% |
|
|
|
|
|
|
|
|
|
Adjusted EBITDA: |
|
|
|
|
|
|
|
|
Adjusted net earnings attributable to Caleres, Inc. (2) |
|
$ |
11,087 |
|
|
$ |
30,751 |
|
Income tax provision (3) |
|
|
(779) |
|
|
|
(258) |
|
Interest expense, net |
|
|
3,932 |
|
|
|
4,103 |
|
Depreciation and amortization (1) |
|
|
14,756 |
|
|
|
14,875 |
|
Adjusted EBITDA |
|
$ |
28,996 |
|
|
$ |
49,471 |
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA margin |
|
|
4.5 |
% |
|
|
7.1 |
% |
|
||||||||
|
|
(Unaudited) |
||||||
|
|
Trailing Twelve Months Ended |
||||||
($ thousands) |
|
February 1, 2025 |
|
February 3, 2024 |
||||
EBITDA: |
|
|
|
|
|
|
|
|
Net earnings attributable to Caleres, Inc. |
|
$ |
107,255 |
|
|
$ |
171,391 |
|
Income tax provision |
|
|
29,061 |
|
|
|
9,490 |
|
Interest expense, net |
|
|
13,957 |
|
|
|
19,343 |
|
Depreciation and amortization (1) |
|
|
56,428 |
|
|
|
53,280 |
|
EBITDA |
|
$ |
206,701 |
|
|
$ |
253,504 |
|
|
|
|
|
|
|
|
|
|
EBITDA margin |
|
|
7.6 |
% |
|
|
9.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA: |
|
|
|
|
|
|
|
|
Adjusted net earnings attributable to Caleres, Inc. (2) |
|
$ |
114,595 |
|
|
$ |
149,269 |
|
Income tax provision (3) |
|
|
31,604 |
|
|
|
37,715 |
|
Interest expense, net |
|
|
13,957 |
|
|
|
19,343 |
|
Depreciation and amortization (1) |
|
|
56,428 |
|
|
|
53,280 |
|
Adjusted EBITDA |
|
$ |
216,584 |
|
|
$ |
259,607 |
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA margin |
|
|
8.0 |
% |
|
|
9.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
(Unaudited) |
||||||
($ thousands) |
|
February 1, 2025 |
|
February 3, 2024 |
||||
Debt/EBITDA leverage ratio: |
|
|
|
|
|
|
|
|
Borrowings under revolving credit agreement (4) |
|
$ |
219,500 |
|
|
$ |
182,000 |
|
EBITDA (trailing twelve months) |
|
|
206,701 |
|
|
|
253,504 |
|
Debt/EBITDA |
|
|
1.1 |
|
|
|
0.7 |
|
_____________________ |
||
(1) |
|
Includes depreciation and amortization of capitalized software and intangible assets. |
(2) |
|
Refer to Schedule 4 for the consolidated reconciliation of net earnings attributable to Caleres, Inc. to adjusted net earnings attributable to Caleres, Inc. |
(3) |
|
Excludes the income tax impacts of the adjustments on Schedule 4. |
(4) |
|
Total availability under the revolving credit agreement was |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250319156056/en/
Investor Contact:
Liz Dunn
ldunn@caleres.com
Source: Caleres