World Footwear

Companies

Caleres updates strategic growth plan and financial targets

Oct 2, 2019 United States
Caleres updates strategic growth plan and financial targets
The US-based footwear giant underlined its focus on customer, products and innovation to ensure a winning strategy. Caleres also introduced its 2022 financial targets
“We are focused on building on the progress we have made over the last several years to position our portfolio to capture rapidly changing consumer preferences and enhance our capabilities to better service our customers”, commented Diane Sullivan, CEO, President and Chairman of Caleres. “Focused investment in our core competency as builders of loved and trusted footwear brands will allow us to extend the reach of our powerful portfolio no matter where our consumers choose to purchase our products. We are confident that this will create consistent sales and earnings growth and create value for all our stakeholders”, she concluded.

Long-term Strategic Plan


Caleres is announcing a new long-term strategic plan to build on its unique advantages and capture share in the global footwear market by focusing on the following three key areas:
- Broaden reach and power of brands and products by cultivating the company’s consumer-focused brands and products to maintain consistency of results and maximize profitability across the portfolio;
- Strengthen connections with consumers by focusing on data-driven analytical capabilities and leveraging the company’s marketing expertise to deepen its brands’ emotional connections with consumers and enhance their market position;
- Accelerate innovation of capabilities and operations. Caleres says it will continue to work on enabling speed, agility and efficiency of scale to ensure that the company moves quickly  and responds appropriatly to changing preferences maximizing consumer fulfillment capabilities.

2022 Financial Plan


In support of the new strategic plan, the company is introducing 2022 financial targets including:
- Revenue: Low single-digit compound annual growth rate (CAGR) through 2022;
- Earnings per share: Double-digit CAGR through 2022;
- Return on invested capital: Greater than 15% through 2022.

Image credits: Photo by Helloquence on Unsplash

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