Companies

Caleres delivers solid first quarter

Jun 9, 2026 United States

The US-based footwear retailer has reported strong first-quarter results, driven by growth across its brand portfolio, including the recently acquired Stuart Weitzman

“We were pleased to report first quarter sales at the top end and earnings ahead of our guidance, reflecting the strength of our strategic growth vectors and broad-based momentum across our Brand Portfolio”, said Jay Schmidt, President and Chief Executive Officer of Caleres.

First-Quarter Results

In the first quarter of the 2026 financial year, which ended on the 2^nd of May, the company’s net sales totalled 666.6 million US dollars, an increase of 8.5% compared to the same period of the previous year. Excluding Stuart Weitzman, net sales totalled 622.7 million US dollars, a 1.4% year-on-year increase.

During the period, net sales from the brand portfolio rose by 20.6% year-on-year and by 5.8% when Stuart Weitzman was excluded. Meanwhile, Famous Footwear’s net sales declined by 2.5% year-on-year, with comparable sales falling by 2.3%. Overall, direct-to-consumer sales accounted for around 67% of total net sales.

In the first quarter of the current financial year, Caleres’ gross profit was 315.5 million US dollars, with the gross margin rising by 200 basis points to 47.3% from the same period last year. Excluding Stuart Weitzman, the adjusted gross profit was 291.2 million US dollars, with the adjusted gross margin rising by 140 basis points year-on-year to 46.8%.

The company’s selling and administrative expenses totalled 293.7 million US dollars in the first quarter, accounting for 44.1% of net sales. This figure is up from 43.4% a year earlier and is mainly due to 25.6 million US dollars in costs related to the acquisition of Stuart Weitzman. Excluding these costs, the ratio improved to 43.1% of net sales.

In the first quarter of 2026, Caleres reported net earnings of 14.3 million US dollars, or 0.42 US dollars per diluted share, up from 6.9 million US dollars, or 0.21 US dollars per diluted share, in the same period a year ago. On an adjusted basis, net earnings increased to 12.7 million US dollars, or 0.38 US dollars per diluted share, up from 7.4 million US dollars, or 0.22 US dollars per diluted share, in the same period a year ago.

Outlook

For the second quarter, the company expects consolidated net sales to increase by a mid-to-high single-digit percentage year-on-year, and forecasts GAAP earnings per diluted share of between 0.32 and 0.38 US dollars.

For the full year, it expects total sales to grow by a low-to-mid single-digit percentage, forecasting GAAP earnings per diluted share of between 1.44 and 1.69 US dollars and adjusted earnings per diluted share of between 1.40 and 1.65 US dollars.

Image Credits: eu.stuartweitzman.com

United States Caleres Companies Footwear Quarter Results Results