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Caleres reports third quarter results

Dec 17, 2019 United States
 Caleres reports third quarter results
The US-based footwear company has announced consolidated sales of 792.4 million US dollars, up by 2.1% compared to similar period in 2018. Accumulated growth in the year reaches 5%
“Our third quarter results demonstrate continued execution against our strategy to broaden the reach of our powerful portfolio and strengthen consumer connections”, commented Diane Sullivan, CEO, President and Chairman of Caleres, adding: “We delivered our eighth consecutive year of positive back-to-school same-store-sales growth at Famous Footwear and our top brands continued to gain share within the Brand Portfolio. While the demand environment remains dynamic, we are focused on executing on our plan with fresh and compelling inventory and a continued emphasis on cost discipline across the organization.”

Third Quarter Results

In the third quarter of the current fiscal year, Caleres registered consolidated sales of 792.4 million US dollars, up by 2.1%. Famous Footwear sales totalled 446.6 million US dollars, with same-store-sales up by 2.5%. In the same period, Brand Portfolio sales of 359.9 million US dollars, up 4.9%. 

The company registered net earnings of 28.0 million US dollars, resulting in earnings per diluted share of 0.69 US dollars, up 3.0%, including 0.07 US dollars of fair value adjustment associated with the mandatory purchase obligation of Blowfish Malibu and 0.02 of Vionic integration expense. Adjusted net earnings of 31.6 million US dollars, resulting in adjusted earnings per diluted share of 0.78 US dollars, down 3.7%, including a 0.03 US dollars net impact from increased tariffs in the quarter.

First Nine Months 2019

Caleres announced consolidated sales of 2 222.6 million for the first nine months of the year, up by 5.1%. In the same period, Famous Footwear sales totalled 1 218.6 million US dollars, with same-store-sales up by 1.1%. Brand Portfolio sales reached 1 060.5 million US dollars, up by 13.8%.

Int he first nine months of the year, the company registered net earnings of 62.4 million US dollars, resulting in earnings per diluted share of 1.51 US dollars, down by 6.8%. Adjusted net earnings totalled 72.4 million US dollars, resulting in adjusted earnings per diluted share of 1.75 US dollars, down by 4.4%.

Image credits: Jason Briscoe on Unsplash

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