Companies

Caleres posts mixed fourth-quarter results

Mar 20, 2026 United States

The US-based footwear company closed the 2025 fiscal year with a mixed performance in the fourth quarter, achieving solid top-line growth while continuing to experience pressure on profitability

In the three months to the 31^st of January, Caleres reported a net sales growth of 8.7%, as compared to the same period of the previous fiscal year, reaching 695.1 million US dollars.

While sales in the Famous Footwear segment decreased by 1.2% year-on-year in the fourth quarter, comparable sales increased by 0.1%. Sales from the Brand Portfolio increased by 20.3% year-on-year, though this figure was 1.5% when Stuart Weitzman was excluded. Direct-to-consumer sales represented approximately 74% of total net sales.

“Our Lead Brands once again outperformed, and we gained market share in both women’s fashion footwear and total footwear. We also completed the Stuart Weitzman integration with minimal business disruption”, said Jay Schmidt, President and Chief Executive Officer.

Despite solid top-line growth, profits declined. The company reported a GAAP net loss of 22.7 million US dollars (or 0.70 US dollars per diluted share), as compared to net earnings of 4.9 million US dollars (or 0.15 US dollars per share) in the fourth quarter of the 2024 fiscal year.

On an adjusted basis, the net loss was 11.7 million US dollars, or 0.36 US dollars per diluted share, as compared to adjusted net earnings of 11.1 million US dollars, or 0.33 US dollars per share. This reflects margin pressure, acquisition-related costs, and higher operating expenses. Excluding Stuart Weitzman, the adjusted net loss narrowed to 1.9 million US dollars, which is roughly break-even per share.

Full-Year Results

In the 2025 fiscal year, Caleres reported net sales of 2.8 billion US dollars, an increase of 1.3% on the previous year, driven by the acquisition of Stuart Weitzman. Net sales in the Brand Portfolio segment increased by 7.3% compared to 2024; however, excluding Stuart Weitzman, net sales decreased by 1.0%. At the same time, sales from the Famous Footwear segment decreased by 3.6% year-on-year.

Profitability declined over the year, with adjusted earnings per share falling from 3.30 in the 2024 fiscal year to 0.61 US dollars. The company’s GAAP results even turned negative, reflecting the combined impact of higher operating costs, acquisition-related expenses, and broader external pressures on the business.

Fiscal 2026 Outlook

“As we look ahead, 2026 is shaping up as a build-back year with modest organic sales growth and meaningful earnings recovery”. The company expects net sales in 2026 to grow by a low to mid-single digit percentage, with GAAP earnings per share of between 1.31 and 1.61 US dollars, and adjusted earnings per share of between 1.35 and 1.65 US dollars.

Nevertheless, “while we have many reasons for optimism”, adds Schmidt, “we are also aware that the current geopolitical backdrop presents a level of risk and uncertainty. Profit improvement in 2026 will be driven primarily by our tariff mitigation efforts taking hold and our plan to bring Stuart Weitzman to breakeven profitability”.

Image Credits: dappered.com

United States Caleres Companies Footwear Quarter Results Results Year Results