Caleres profits, sales gain in 2022

U.S. footwear company Caleres said net sales in fiscal 2022 were $2.97 billion, up 6.9%, on the back of fourth-quarter sales which lifted 2.5% to $696.4 million for the three months ending January 28.

The St. Louis-based company said its Famous Footwear segment sales improved 0.1% in the quarter and
brand portfolio segment sales increased 6.4%, with direct-to-consumer sales representing approximately 75% of total net sales.

Likewise, Famous Footwear segment sales declined 2.5% in 2022, while brand portfolio segment sales surges 22.4%. Annual direct-to-consumer sales represented approximately 72% of total net sales.

The company's profits lifted in 2022, with net earnings of $181.7 million, or earnings per diluted share of $4.92, compared to net earnings of $137 million, or earnings per diluted share of $3.56 in fiscal 2021.

“Caleres closed a record-setting 2022 with another quarter of strong sales and earnings performance that exceeded initial expectations,” said Jay Schmidt, president and chief executive officer.

“Our fourth quarter results were led by our brand portfolio, which experienced strong growth in sales, gross margin and earnings and a solid performance from Famous Footwear, which continues to provide the brands, trends and value aligned with consumer preferences. Overall, Caleres generated annual results well ahead of pre-pandemic levels. The power of the Caleres portfolio and the structural changes made in recent years have effectively doubled the baseline earnings power of the company.

Looking ahead, the company said it is confident in its ability to consistently deliver annual earnings per share of more than $4.00.

Caleres profits, sales gain in 2022

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