“In the first quarter, we once again delivered improvement in gross margin, net earnings and earnings per share. Not surprisingly, the late start to spring delayed sales but – as expected – spring arrived and trends improved appreciably, with this momentum continuing into the second quarter,” said Diane Sullivan, CEO, President and Chairman of Caleres, adding: “In the first quarter, Brand Portfolio sales were up 1.4%, and both Brand Portfolio and Famous Footwear experienced continued growth in ecommerce-related sales. We remain on track for 2018 and are maintaining our guidance for the year.”

In the first quarter, consolidated sales totaled 632.1 million US dollars, up by 0.1% from 631.5 million US dollars in the same quarter a year ago. Famous Footwear total sales of 363.4 million US dollars were down by 0.8%, as were same-store-sales, and we operated 39 fewer doors year-over-year. Brand Portfolio sales of 268.7 million US dollars were up by 1.4%.

Net earnings reached 17.2 million US dollars, growing by 15.5% from 14.9 million US dollars, while diluted earnings per share were 0.40 US dollars and included a 0.03 US dollars charge for the previously announced transition of Allen Edmonds’ consumer-facing activities to St. Louis. Adjusted net earnings of 18.5 million US dollars were up 6.3%, while adjusted diluted net earnings per share of 0.43 US dollars were up by 7.5%.