All Caleres articles
-
ArticleCaleres aims to bring Stuart Weitzman to breakeven in 2026
Caleres said that it plans to bring Stuart Weitzman to breakeven in 2026 and to achieve profitability for the brand after that, as the latest addition to its Brand Portfolio segment dragged down earnings in the third quarter and management predicted it would be dilutive to the bottom line for ...
-
News briefs
Asak&Co to distribute Vionic in Italy
Asak&Co, an Italian company founded in 1992 by the sisters Barbara and Sonia Dalla Rosa, has been selected to distribute Vionic, a Caleres-owned brand, in Italy. The company already conducted a test with Vionic’s spring/summer 2025 collection and the collaboration will start in full with the spring/summer 2026 season. ...
-
ArticleCaleres’ earnings, sales fall in Q2 on declining sales and margins
Caleres saw its earnings fall sharply in the second quarter of its fiscal year as sales continued to decline and margins were squeezed due to US import tariffs, added inventory reserves and higher clearance promotions at its Famous Footwear chain. Given the continued uncertainty tied to tariffs, Caleres said it ...
-
News briefs
Caleres partners with the buy now, pay later provider Afterpay
Afterpay, a provider of “buy now, pay later” payments, has entered into an extensive partnership with Caleres. Through the partnership, shoppers in the US can use Afterpay’s Pay in 4 and Pay Monthly options to purchase Caleres’ brands including Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, Vionic, Bzees, Circus NY, ...
-
News briefs
Caleres appoints a new Chief Human Resources Officer
On Aug. 15, Caleres announced that Kathleen Welter has joined the company as Chief Human Resources Officer. She will oversee all human resources functions for the company’s portfolio of brands and its more than 9,000 associates worldwide, including recruitment, talent management, training, culture, compensation, benefits and labor law compliance. Welter ...
-
News briefs
Caleres names Brian Costello President of Famous Footwear
Caleres announced that Brian Costello has been named division President of Famous Footwear effective immediately. He will continue to report to Jay Schmidt, President and CEO of Caleres. Costello joined Famous Footwear in February this year as Chief Merchandising Officer, assuming responsibility for all buying and merchandising, including women’s, ...
-
News briefs
Caleres completes the acquisition of Stuart Weitzman
On Aug. 4, Caleres completed the acquisition of Stuart Weitzman from Tapestry for $120.2 million, which included $11.5 million in cash received at the closing. Excluding cash received at the closing, the net purchase price was $108.7 million. The price is subject to final adjustments for net working capital. The ...
-
News briefs
Caleres increases and extends its revolving credit facility
Caleres has entered into an amendment of its credit agreement, which extends its senior secured asset-based revolving credit facility to June 2030. The US footwear company’s borrowing capacity under the agreement will increase by $200 million to $700 million, and includes an accordion feature, which allows Caleres to request an ...
-
ArticleCaleres cuts costs, accelerates shift away from China after worse-than-expected Q1
Caleres said it will cut costs and continue a shift away from sourcing from China, after posting worse-than-expected sales and earnings in its first quarter ended May 3. The disappointing performance came as US import tariffs started to have an effect and amid signs of worsening customer credit issues. Sales ...
-
ArticleCaleres sees sales continuing to fall in Q1 amid consumer headwinds, retailer caution
Caleres expects sales in the first quarter of fiscal year 2025 to fall by 5-6 percent compared to the year earlier, a result encompassing the “very challenging business” it saw in February and an improvement in the first three weeks of March. Earnings per diluted share for the quarter are ...
-
ArticleCaleres buys Stuart Weitzman for $105m
Tapestry has entered into a definitive agreement to sell the Stuart Weitzman footwear brand to Caleres for $105 million. The transaction is expected to close in the summer of 2025. “The acquisition cements Caleres’ leadership position in women’s fashion footwear, particularly in the contemporary segment of the market,” Caleres said ...
-
ArticleCaleres enters a footwear license deal with Favorite Daughter
Caleres has entered into an exclusive license agreement to launch Favorite Daughter’s first shoe line. Caleres will produce the US brand’s women’s shoes starting with the fall 2025 season. The partnership follows a collaboration between Caleres’ portfolio brand, Dr. Scholl’s, and Favorite Daughter dropping in May 2025. Favorite Daughter is ...
-
News briefs
Caleres cuts its guidance after holiday sales disappoint
Caleres cut its sales and earnings guidance for fiscal year 2024 after reporting disappointing sales in the holiday season and into January, partially due to weather-related closures at some of its Famous Footwear stores. The US company is now expecting a 3.0 to 3.5 percent decline in full-year sales compared ...
-
ArticleCaleres cuts earnings guidance, sees more balanced international growth
Caleres once again cut its sales and earnings guidance for its full fiscal year, after a slump in boot sales made the biggest contribution to disappointing financial results for the third quarter ended Nov. 2. Third-quarter sales fell by 2.8 percent to reach $740.9 million, worse than the company’s guidance ...
-
ArticleCaleres names a new head of its New York brands
Nancy Bitetto has joined Caleres as Senior Vice President of New York brands, which include Franco Sarto, Vince, Veronica Beard and private brand offerings. “In this role, Bitetto will focus on accelerating growth and expanding profitability within the Caleres Brand Portfolio,” the company said. She will report directly to Jay ...
-
ArticleCaleres unveils cost-cutting measures, lowers guidance after falls short in Q2
Caleres said it was accelerating cost-cutting measures and cutting guidance for its full fiscal year, after missing sales and earnings guidance in the second quarter ended Aug. 3. Second-quarter sales slipped by 1.8 percent compared to the year earlier to $683.3 million, a decline that was attributed to a fall ...
-
ArticleCaleres maintains outlook after Q1 sales fall short of expectations
Caleres maintained its guidance for a top line this year that is flat to up 2 percent compared to the year earlier after reporting sales in the first quarter ended May 4 that were slightly worse than expectations. First-quarter sales at Caleres fell by 0.5 percent to $659.2 million, versus ...
-
ArticleCaleres to bolster international presence with “outsized investments”
Caleres is focusing first on China as part of a strategy to build its international business, announcing the opening of 45 new Sam Edelman stores in the country this year and the return of its Naturalizer brand to China with 10 new stores in autumn 2024 and a digital relaunch. ...
-
News briefs
Caleres hires Liz Dunn as head of corporate development and strategic communications
Liz Dunn has joined Caleres as Senior Vice President of corporate development and strategic communications. “In this newly created role, Dunn will leverage her nearly 30 years’ experience spanning equity research, investment banking, consulting, and finance to ensure Caleres aligns its growth ambitions and strategic communications with delivering shareholder value. ...
-
News briefsFamous Footwear hires a general merchandise manager
Andrew Leckie has joined Famous Footwear as senior vice president and general merchandise manager. He will oversee buying and merchandising for the adult athletic, kids and Canadian businesses, announced Caleres, owner of the American footwear retailer. Leckie began his career in athletics and footwear nearly 30 years ago and has ...
