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Sales up by 8.7% at Caleres

Aug 29, 2017 / United States
Sales up by 8.7% at Caleres
The management highlighted the solid sales improvement across the business. Net earnings keep on the up side as well
“In the second quarter, we delivered solid sales improvement across both sides of our business, with Famous Footwear same-store-sales up 2.8% and Brand Portfolio sales up 16.8%”, commented Diane Sullivan, CEO, President and Chairman of Caleres, adding: “We saw consistent margin expansion, generated steady cash flow, and continued to pay down our revolving credit facility, following the Allen Edmonds acquisition. We have confidence in the execution of our strategic plan and are maintaining our guidance for fiscal 2017.”

The US-based company has announced consolidated sales of 677.0 million US dollars for the second quarter, up by 8.7%, compared to similar period in the previous year, and including the Allen Edmonds business. Famous Footwear sales totaled 404.9 million US dollars in the period, up by 3.8%, while same-store-sales up by 2.8%. Brand Portfolio sales reached 272.0 million US dollars, up by 16.8% including contribution from Allen Edmonds, which was acquired in December of 2016.

Net earnings for the period totaled 17.6 million US dollars, while diluted earnings per share were 0.41 US dollars and included 0.07 US dollars of expected charges related to the acquisition, integration and reorganization of men’s brands. Adjusted net earnings of 20.6 million US dollars were up by 4.4%, while adjusted diluted earnings per share of 0.48 US dollars, increasing by 4.3%.

For the first semester, consolidated sales totaled 1 308.5 million US dollars, up by 8.3%, including Allen Edmonds. 

Net earnings totaled 32.5 million US dollars, while diluted earnings per share were 0.75 US dollars and included 0.13 US dollars of expected charges related to the acquisition, integration and reorganization of men’s brands. Adjusted net earnings totaled 38.1 million US dollars, up by 1.4%, while adjusted diluted earnings per share of 0.88 US dollars, were up by 2.3%.

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