Caleres Earnings Call Transcripts
Fiscal Year 2027
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First quarter sales and EPS exceeded guidance, led by strong brand portfolio growth and margin expansion, while Famous Footwear faced a softer market but saw e-commerce gains. Full-year guidance remains positive for brand portfolio, with risks from tariffs and inflation considered.
Fiscal Year 2026
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Fourth quarter results exceeded guidance with strong e-commerce and international growth, while integration of Stuart Weitzman and strategic initiatives set the stage for improved profitability in 2026. Guidance anticipates modest sales growth, margin recovery, and continued market share gains.
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Q3 saw organic sales growth, strong lead brand performance, and improved e-commerce, offset by margin pressure from tariffs and integration costs for Stuart Weitzman. Guidance anticipates flat to slightly positive sales trends and margin improvement in 2026 as integration synergies are realized.
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Second quarter sales declined 3.6% year-over-year, with gross margin pressured by tariffs and promotions. Lead brands and e-commerce performed well, and the Stuart Weitzman acquisition is expected to drive future efficiencies. No annual guidance was provided due to tariff uncertainty.
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First-quarter sales and earnings missed expectations due to weak early sales, tariff-related costs, and higher reserves, but market share gains and international growth were achieved. Guidance is suspended amid tariff uncertainty, with $15 million in annualized SG&A savings targeted.
Fiscal Year 2025
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Direct-to-consumer and lead brands drove strong Q2 results, with international and digital channels showing robust growth. The Stuart Weitzman acquisition and cost-saving initiatives are expected to enhance future performance, while tariff mitigation remains a key focus.
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Fourth quarter and full-year adjusted EPS were at the high end of guidance, with strong lead brand performance and strategic investments offsetting sales declines. 2025 guidance anticipates flat to slightly up sales, margin pressure from tariffs, and continued focus on premium and contemporary segments.
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Q3 sales declined 2.8% year-over-year with adjusted EPS of $1.23, impacted by weak boot sales, late athletic receipts, and softness in China. Market share gains were seen in both segments, but full-year guidance was lowered due to ongoing challenges and a more promotional Q4.
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Q2 sales and earnings missed expectations due to ERP disruptions and weak seasonal demand, but corrective actions and restructuring are underway. Guidance for 2024 was revised lower, with strong performance in athletic and kids categories offsetting softness in seasonal products.