Caleres Inc Stock Price, News & Analysis

Caleres reported record second quarter net sales of $738.3 million, up 9.3% from the previous year, with earnings per diluted share at $1.38, compared to $0.97 in Q2 2021. Despite a 3.8% decline in the Famous Footwear segment, the Brand Portfolio segment saw a robust 35.6% increase. The company also announced a share repurchase of 1.1 million shares totaling $27.0 million. Looking ahead, Caleres raised its fiscal year 2022 sales guidance to a growth of 4% to 6% and aims for earnings per share between $4.20 and $4.40.

Caleres (NYSE: CAL) will release its second quarter 2022 financial results on August 23 after market close. A conference call will follow at 5:00 p.m. Eastern time where executives will discuss the results and provide a business update. Analysts can join via dial-in numbers, with a replay available until September 6. The call will also be accessible on the Caleres investor website, enhancing transparency for stakeholders.

Caleres (NYSE: CAL) announces a leadership transition as Jay Schmidt will succeed Diane Sullivan as CEO on January 15, 2023. Sullivan, who will take on the role of Executive Chairman, has led the company for over a decade, achieving a six-fold increase in earnings per share. This transition is part of a planned succession process overseen by the Board of Directors. Both leaders express confidence in continuing Caleres' growth and brand strength.

Vionic Shoes, under Caleres (NYSE: CAL), introduces the VIONIC x PROTEUS™ sneaker collection, promoting sustainability and ocean health. The partnership with Proteus Ocean Group commits $500,000 over three years to support innovative ocean preservation solutions. The launch includes eco-conscious Beach sneakers made from recycled materials and features Vionic's Three-Zone Comfort technology. A beach cleanup event in Santa Monica marked the collaboration's start, collecting over 500 pounds of waste and fostering community engagement in ocean conservation.

PROTEUS™ and Vionic Shoes have launched a beach cleanup initiative in Santa Monica, aiming to raise awareness about ocean health and climate change. Fabien Cousteau, grandson of Jacques Cousteau, supports the event that promotes local actions for a sustainable future. The initiative coincides with Vionic's launch of a sustainable footwear collection, underscoring their commitment to environmental responsibility. Approximately 600 million pounds of plastic pollution are present in oceans, highlighting the urgency of such conservation efforts. This partnership emphasizes education and community involvement in addressing climate challenges.

Caleres (NYSE: CAL) has announced a quarterly cash dividend of $0.07 per share, payable on June 29, 2022, to shareholders of record by June 10, 2022. This marks the company's 397^th consecutive quarterly dividend, highlighting its commitment to returning value to shareholders. As a portfolio of global footwear brands, Caleres operates nearly 1,000 retail stores and offers a variety of products through various channels, demonstrating its strong market presence.

Vionic has launched its new recovery sandals, Rejuvenate and Restore, designed for optimal comfort post-activity. These sandals feature dual density cushioning and Three-Zone Comfort technology for enhanced arch support and stability. Available in multiple colors and styles, they aim to alleviate foot pain and promote natural alignment. The sandals are recommended by podiatrist Jacqueline Sutera as essential for recovery after sports or surgery. Vionic, part of Caleres (NYSE: CAL), focuses on merging fashion with foot health.

Caleres reported record first quarter net sales of $735.1 million, reflecting a 15.1% year-over-year increase. The company's gross profit margin reached 44.5%, with net earnings of $50.5 million or $1.32 per diluted share. Despite a 3.4% sales decline in the Famous Footwear segment, the Brand Portfolio segment saw a 46.1% sales increase. The company raised its fiscal year 2022 sales and earnings guidance, anticipating a 2-5% increase in sales and earnings per share of $4.20 to $4.40.

Rykä has launched its first collection of performance maternity shoes, the XpectFit, targeting expectant mothers. This collection features sneakers designed with a focus on comfort, including a wider forefoot and narrower heel for stability. With options for training, walking, and casual use, each shoe includes a massaging OrthoLite® insole and is machine-washable. The launch is timely, coinciding with the COVID-19 baby boom, and reflects Rykä's commitment to creating shoes for women, by women. The collection is available on various retail platforms, including Ryka.com and Famousfootwear.com.