All Caleres articles – Page 2
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ArticleCaleres’ CEO to step down in January
Diane Sullivan, who has served as Caleres’ chief executive officer for more than a decade, will retire as CEO on Jan. 15, 2023, and will assume the role of executive chairman. At that time, Jay Schmidt will succeed her as chief executive officer. Schmidt was named president of the ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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News briefs
Naturalizer partners with the designer Tracy Reese
Naturalizer, founded in 1927 with the ambition to design shoes specifically for women, and Tracy Reese, an American designer who launched her namesake fashion brand in 1996, jointly launched the “Hope for Flowers” footwear collection. The limited single run collection will range in price from $110-$148 a pair. The collection ...
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ArticleCaleres expects to meet many ESG commitments ahead of 2025 schedule
Caleres has published its 2021 environmental, social, governance (ESG) report indicating the progess made last year and in early 2022 against its 2025 targets. The U.S. footwear company pointed out that it is on track to meet many of its commitments ahead of schedule. “Since we debuted our 2025 ESG ...
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ArticleCaleres delivers strong results
Caleres’ operating income was $43.8 million in the fourth quarter ended Jan. 29 against a loss of $55.4 million a year earlier. Net income came in at $33.9 million against a loss of $77.1 million. Total period revenues increased by 19.0 percent to $679.3 million from $571.0 million as gross ...
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News briefs
Caleres hikes its full-year guidance
Caleres raised its earnings per share outlook for the fiscal year ending Jan. 29. The U.S. footwear company now anticipates reported earnings of $3.29-3.39 per share. Adjusted earnings per share is seen reaching a record $4.00-4.10.
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ArticleShoe industry marked by IPOs and takeovers in Q4
The footwear industry witnessed further extraordinary finance transactions during the fourth quarter as companies continue to take advantage of the abundant liquidity injected into the financial system by central banks worldwide to shore up the economy after the Covid-19 outbreak last year. Allbirds, the loss-making California-based producer of Wool Runner ...
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ArticleCaleres raises earnings outlook as Famous Footwear shows ‘exceptional upward momentum’
Caleres raised its earnings guidance for its full financial year, after reporting a record bottom line in the third quarter ended Oct. 30 as the Famous Footwear retail chain saw “continued, exceptional upward momentum” and recovery at the Brand Portfolio business progressed despite headwinds from higher freight costs. Caleres reported ...
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News briefs
Caleres hires a new head of customer marketing
Suzy Cirulis has joined Caleres as senior vice president in charge of customer marketing. In this role, she will lead the company’s customer marketing efforts across the entire Caleres portfolio including customer relationship marketing, customer insights and customer analytics. She was most recently chief marketing officer at Crate and Barrel. ...
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News briefs
Caleres hires a general manager for Allen Edmonds
The U.S. footwear company Caleres has appointed David Law as senior vice president and general manager of Allen Edmonds. He was previously in charge of men’s footwear at Vida Shoes International. “David is an accomplished omnichannel retail executive with over 15 years of extensive experience in various buying, planning and ...
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News briefs
Sam Edelman debuts in kids’ footwear
The U.S. brand Sam Edelman, which is part of the Caleres group, debuted kids footwear with a collection designed exclusively in-house for the fall 2021 season. The designer Sam Edelman explained that “designing a kids collection in-house was a no-brainer. I saw a space in the market for amazing quality ...
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ArticleStocks of footwear firms benefit from the re-opening of the economy in Q2
In the second quarter, stocks of footwear companies were generally higher as they benefited from the reopening of the economy, following the easing of Covid-19 restrictions, and a subsequent rebound in the consumption of clothing and shoes. Large U.S. footwear companies, which had already posted strong gains in the first ...
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ArticleCaleres' Q1 sales jump 61% led by Famous Footwear
Caleres’ sales in the first quarter ended on May 1 jumped by 60.9 percent year-on-year to $638.6 million and its bottom line moved into positive territory, lifted by record quarterly earnings and sales at its Famous Footwear retailer business and an “accelerated recovery in the marketplace”. Sales for ...
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News briefs
Caleres presents maiden ESG report
The U.S. company Caleres published its first environmental, social, governance (ESG) report, Caleres Cares … Feet First . The report covers the company’s activities in 2020 and sets commitments for the next five years. The pledges for 2025 include: Use environmentally preferred materials in all of ...
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ArticleCaleres cuts debt to below pre-Covid levels
Caleres posted lower sales and a net loss in the fourth quarter, but thanks to strong cash generation it continued to significantly deleverage its balance sheet, pushing debt below pre-pandemic levels. In the fourth quarter alone, it reduced credit facility borrowings by $50 million to $250 million, or $25 million ...
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News briefs
Caleres’ U.K. unit to distribute Naturalizer, Sam Edelman in Europe
Caleres ’ European distribution unit, based in Milton Keynes, about 80 kilometers northwest of London, will distribute the brands Naturalizer and Sam Edelman , starting with the upcoming autumn/winter collection. The initial focus will be on the U.K., where the brands of the American company will be sold ...
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ArticleStocks of footwear companies fell by 16.3% in 2020
Well functioning financial markets are providers of information and signals. We are analyzing last year’s performance of footwear companies, but also of luxury goods and e-commerce companies with a strong footwear component, to see how markets perceived some of the key players of our industry.
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News briefsCaleres reshuffles its senior management
Caleres has reshuffled its senior management, a move which it expects will ensure “greater alignment with its strategic direction, accelerate its growth initiatives, unlock the power of its portfolio of brands and drive sustainable, long-term value for its shareholders.” Under the reorganization announced in December, Jay Schmidt ...
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ArticleLower sales for Caleres, but results top expectations
Caleres recovered in the third fiscal quarter compared with the previous quarter but sales continued to decline sharply year-on-year. The company warned that fourth-quarter sales could be some 20 percent lower than the previous year. In the three months ended on Oct. 31, revenues were $647.5 million, down ...
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News briefsCaleres names Michael Edwards head of Famous Footwear
Caleres has appointed Michael Edwards as president of Famous Footwear , effective Nov. 20. He replaces Molly Adams , who resigned to pursue an opportunity outside the organization. Edwards joined Caleres in June 2008, most recently serving as senior vice president of digital commerce, planning, allocation and stores. ...
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