Caleres sales uptick driven by brand portfolio revenues

By

Benjamin Fitzgerald

Published
Aug 24, 2022

U.S. footwear company Caleres Inc. announced on Tuesday revenues for its second quarter rose 9.3 percent year-over-year, driven by positive momentum in its brand portfolio segment.

The St. Louis-based company said revenues for the quarter ending July 30 increased 9.3% to $738.3 million. By brand, the company registered a 3.8% sales decline in the Famous Footwear segment, offset by a 35.6% sales swing in its brand portfolio segment. Direct-to-consumer sales represented approximately 72 percent of total net sales, added the company.

Net earnings grew to $51.2 million, or earnings of $1.38 per diluted share, compared to net earnings of $37.4 million, or earnings of $0.97 per diluted share in the second quarter of fiscal 2021.

​“During the second quarter, Caleres delivered another exceptional financial and operational performance with record second quarter sales and earnings and strong gross profit margins – marking yet another period of outstanding results,” said Diane Sullivan, chairman and chief executive officer.

“In particular, Caleres utilized its growing and dynamic portfolio to capitalize on robust consumer demand in trending footwear categories, to support strong consolidated margin levels and to drive another excellent quarter of return on sales. In short, we demonstrated again that our versatile structure provides a significant and differentiating strength that, over the long term, enables Caleres to drive exceptional results in strong market environments while still generating attractive levels of profitability in difficult macro environments.”

Looking ahead, Caleres said it has raised and tightened its consolidated sales levels for the fiscal 2022 year, from up between 2 percent and 5 percent to up between 4 percent to 6 percent, when compared to fiscal year 2021.

It still expects earnings per diluted share to be between $4.20 and $4.40, which would represent another year of record or near-record earnings for the organization.