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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) 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.
Caleres (NYSE: CAL) will announce its first quarter 2024 financial results on May 30. The company will host a conference call to discuss the results and provide a business update. Participants can join via dial-in or webcast.
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