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Caleres Reports First Quarter Results

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Caleres (NYSE: CAL) reported its first quarter 2024 financial results, achieving earnings per share of $0.88, surpassing expectations. The company generated a record first-quarter consolidated gross margin of 47%. Net sales were $659.2 million, down 0.5% from the previous year, with Famous Footwear segment net sales increasing by 0.1% while Brand Portfolio segment net sales declined by 2.6%.

Direct-to-consumer sales accounted for 69% of total net sales. The company reported a gross profit of $309.1 million and a gross margin of 46.9%, up 120 basis points from last year. SG&A expenses represented 40.4% of net sales.

Caleres reaffirmed its fiscal 2024 outlook, projecting net sales to be flat to up 2% and earnings per share to range between $4.30 and $4.60. The company also plans capital expenditures of $60 million to $70 million in 2024. Additionally, Caleres repurchased 416,000 shares of common stock for $15.1 million and returned $2.4 million to shareholders through dividends.

Positive
  • Achieved earnings per share of $0.88, exceeding expectations.
  • Generated a record first-quarter consolidated gross margin of 47%.
  • Net sales of $659.2 million, with Famous Footwear segment net sales increasing by 0.1%.
  • Gross margin increased by 120 basis points to 46.9% compared to the previous year.
  • Direct-to-consumer sales represented approximately 69% of total net sales.
  • Reaffirmed fiscal 2024 outlook with net sales expected to be flat to up 2% and earnings per share between $4.30 and $4.60.
  • Repurchased 416,000 shares of common stock for $15.1 million.
  • Returned $2.4 million to shareholders through dividends.
  • Inventory was down 5.2% from the first quarter of 2023 due to strategic inventory management.
  • Borrowings under the asset-based revolving credit facility decreased by about $100 million from the first quarter of 2023.
Negative
  • Net sales decreased by 0.5% from the first quarter of 2023.
  • Brand Portfolio segment net sales declined by 2.6%.
  • Net earnings were $30.9 million, compared to $34.7 million in the first quarter of 2023.
  • Earnings per diluted share decreased from $0.97 in the first quarter of 2023 to $0.88.
  • SG&A expenses represented 40.4% of net sales, reflecting higher investments in marketing and international expansion.

Insights

Caleres reported strong financial results for the first quarter of 2024, with notable achievements in earnings per share and gross margin. The earnings per share (EPS) of $0.88, although slightly decreased from last year’s $0.97, surpassed market expectations. This overperformance is significant in a challenging consumer demand environment.

The gross margin reached a record high of 47%, up 1.2% from the previous year. This increase in margin reflects effective cost management and pricing strategies across its segments. The Brand Portfolio segment showed a gross margin improvement of 2.4%, indicating strong operational efficiency.

Despite a slight decline in net sales (-0.5% year-over-year), strategic investments in marketing and international expansion were apparent, supported by a 40.4% SG&A ratio (selling, general and administrative expenses to net sales).

From a capital allocation perspective, Caleres is actively returning value to shareholders through share buybacks and dividends. The company repurchased 416,000 shares worth $15.1 million and paid $2.4 million in dividends during the quarter. Additionally, debt reduction efforts are notable, with borrowings under the asset-based revolving credit facility down by $100 million from the previous year.

Looking forward, the company reiterates its fiscal 2024 outlook, projecting net sales to be flat to up 2% and EPS in the range of $4.30-$4.60. This confidence is backed by expected benefits from strategic shifts such as the back-to-school calendar adjustment impacting the second quarter.

For retail investors, this performance demonstrates robust fundamental strengths, effective cost management and shareholder-friendly capital allocation strategies. However, it's important to monitor ongoing consumer demand challenges and competitive pressures within the footwear market.

The footwear market remains highly competitive, with Caleres maintaining a strong position through its diverse brand portfolio. The Famous Footwear segment’s slight net sales increase (0.1%) and stable gross margins suggest resilience in its core market, particularly noteworthy in the Kids category where sales and market share have risen significantly.

The direct-to-consumer strategy, which represents approximately 69% of total net sales, is a critical factor in sustaining profitability. This approach reduces dependency on traditional retail channels and aligns with consumer shopping preferences, providing flexibility and potentially higher margins.

However, the 2.6% decline in the Brand Portfolio segment's net sales indicates potential areas of concern regarding market penetration and brand appeal. Nevertheless, the improved operating margin in this segment (13%) reflects effective cost controls and strategic efficiencies.

Investors should note that while Caleres is reiterating its fiscal 2024 outlook, the broader economic environment and consumer spending patterns will be influential. The emphasis on strategic growth initiatives and operational efficiencies positions Caleres favorably, but vigilance is required given competitive dynamics and market volatility.

For retail investors, understanding the balance between growth potential and operational efficiencies will be key to evaluating the long-term prospects of Caleres in the competitive footwear industry.

  • Achieved $0.88 in earnings per share, exceeding expectations
  • Generated record first quarter consolidated gross margin of 47 percent
  • Reiterates fiscal 2024 outlook of net sales flat to up 2 percent and earnings per share of $4.30 to $4.60

ST. LOUIS--(BUSINESS WIRE)-- Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for first quarter 2024 and reaffirmed its guidance for fiscal 2024.

“Caleres began 2024 in strong fashion, achieving earnings per share ahead of expectations, generating record first quarter consolidated gross margin, and making significant progress on our key strategic initiatives, all while investing for the long-term,” said Jay Schmidt, president and chief executive officer. “While the consumer demand environment remained challenging, we achieved growth in sales and profitability from our Lead Brands and strong margin performance across the Brand Portfolio. Notably, the segment delivered more than half of the company’s operating earnings during the quarter, with a 13 percent operating margin, and is once again expected to lead the financial performance of Caleres this year. At the same time, Famous Footwear maintained total year-over-year sales levels and generated solid gross margins, with sales and market share up significantly in the strategically important Kids category.”

“Looking ahead, we are confident in our ability to deliver earnings per share in line with our guidance range in 2024,” said Schmidt. “Longer-term, we believe we are exceptionally well positioned to execute our clear and actionable strategic plan, invest to fuel our growth initiatives, and drive sustained value for our shareholders.”

First Quarter 2024 Results
(13-weeks ended May 4, 2024, compared to 13-weeks ended April 29, 2023)

  • Net sales were $659.2 million, down 0.5 percent from the first quarter of 2023;
    • Famous Footwear segment net sales increased 0.1 percent, with comparable sales down 2.3 percent
    • Brand Portfolio segment net sales declined 2.6 percent
    • Direct-to-consumer sales represented approximately 69 percent of total net sales
  • Gross profit was $309.1 million, while gross margin was 46.9 percent, up 120 basis points versus last year;
    • Famous Footwear segment gross margin of 46.1 percent, up 50 basis points versus last year
    • Brand Portfolio segment gross margin of 46.6 percent, up 240 basis points versus last year
  • SG&A as a percentage of net sales was 40.4 percent, reflecting planned investment in marketing at certain Lead Brands, international expansion and the implementation of the integrated SAP platform;
  • Net earnings of $30.9 million, or earnings per diluted share of $0.88, compared to net earnings of $34.7 million, or earnings per diluted share of $0.97 in the first quarter 2023.
  • Earnings before interest, taxes, depreciation, and amortization (EBITDA) of $57.4 million, or 8.7 percent of sales;
  • Inventory was down 5.2 percent from the first quarter 2023, due to strategic inventory management – primarily in the Brand Portfolio segment; and
  • Borrowings under the asset-based revolving credit facility were $191.0 million at the end of the period, down about $100 million from the first quarter of 2023.

Capital Allocation Update

During the quarter, Caleres continued to invest in value-driving growth opportunities while at the same time returning cash to shareholders through share buybacks and dividends. More specifically, the company repurchased 416,000 shares of common stock, for $15.1 million and an average price of $36.23 per share. It also returned $2.4 million to shareholders through quarterly dividend payments.

In the near term, the company expects to continue to focus on reducing debt and still expects borrowings under its asset-based revolving credit facility will be less than $100 million by 2026. Caleres will continue to consider business performance and market conditions as it evaluates all opportunities for free cash flow as the year progresses.

Fiscal 2024 Outlook:

Caleres is reiterating its fiscal 2024 financial outlook and as previously noted, its fiscal 2024 is a 52-week year and compares to a 53-week year in fiscal 2023. Specifically, the company still expects consolidated net sales to be flat to up 2 percent, compared to 2023, and earnings per diluted share to be in the range of $4.30 to $4.60.

In addition, for fiscal 2024, the company still expects:

  • Consolidated operating margin of 7.3 percent to 7.5 percent;
  • Effective tax rate of about 24 percent; and
  • Capital expenditures of $60 million to $70 million.

For second quarter 2024 the company expects:

  • Consolidated net sales to be up 3 percent to 4 percent. This includes an estimated $20 to $25 million benefit in Famous Footwear as a result of the calendar shift of an important back-to-school week into second quarter 2024 from third quarter 2023; and
  • Earnings per diluted share of $1.20 to $1.25.

Investor Conference Call

Caleres will host a conference call at 11:00 a.m. ET today, Thursday, May 30. The webcast and associated slides will be available at investor.caleres.com/news/events. A live conference call will be available at (877) 704-4453 for North America participants or (201) 389-0920 for international participants, no passcode necessary. A replay will be also available at investor.caleres.com/news/events/archive for a limited period. Investors may also access the replay by dialing (844) 512-2921 in North America or (412) 317-6671 internationally and using the conference pin 13746617.

Definitions

All references in this press release, outside of the condensed consolidated financial statements that follow, unless otherwise noted, related to net earnings attributable to Caleres, Inc. and diluted earnings per common share attributable to Caleres, Inc. shareholders, are presented as net earnings and earnings per diluted share, respectively.

Non-GAAP Financial Measures and Metrics

In this press release, the company’s financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures and metrics. In particular, the company provides earnings before interest, taxes, depreciation and amortization (EBITDA), which is a non-GAAP financial measure, and the debt to EBITDA leverage ratio, which is a non-GAAP financial metric. These results are included as a complement to results provided in accordance with GAAP because management believes this non-GAAP financial measure and metric help identify underlying trends in the company’s business and provide useful information to both management and investors by excluding certain items that may not be indicative of the company’s core operating results. This measure and metric should not be considered a substitute for or superior to GAAP results.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking statements and expectations regarding the company’s future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changing consumer demands, which may be influenced by general economic conditions and other factors; (ii) inflationary pressures and supply chain disruptions (iii) rapidly changing consumer preferences and purchasing patterns and fashion trends; (iv) supplier concentration, customer concentration and increased consolidation in the retail industry; (v) intense competition within the footwear industry; (vi) foreign currency fluctuations; (vii) political and economic conditions or other threats to the continued and uninterrupted flow of inventory from China and other countries, where the company relies heavily on third-party manufacturing facilities for a significant amount of its inventory; (viii) cybersecurity threats or other major disruption to the company’s information technology systems; (ix) the ability to accurately forecast sales and manage inventory levels; (x) a disruption in the company’s distribution centers; (xi) the ability to recruit and retain senior management and other key associates; (xii) the ability to secure/exit leases on favorable terms; (xiii) the ability to maintain relationships with current suppliers; (xiv) transitional challenges with acquisitions and divestitures; (xiv) changes to tax laws, policies and treaties; (xvi) our commitments and shareholder expectations related to environmental, social and governance considerations; (xvii) compliance with applicable laws and standards with respect to labor, trade and product safety issues; and (xvii) the ability to attract, retain, and maintain good relationships with licensors and protect our intellectual property rights. The company's reports to the Securities and Exchange Commission contain detailed information relating to such factors, including, without limitation, the information under the caption Risk Factors in Item 1A of the company’s Annual Report on Form 10-K for the year ended February 3, 2024, which information is incorporated by reference herein and updated by the company’s Quarterly Reports on Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change.

 
 
 

SCHEDULE 1 

 

CALERES, INC. 

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS 

 

 

 

(Unaudited)

 

 

Thirteen Weeks Ended

($ thousands, except per share data)

    

May 4, 2024

    

April 29, 2023

Net sales

 

$

 659,198

 

 

$

 662,734

 

Cost of goods sold

 

 

 350,103

 

 

 

 360,052

 

Gross profit

 

 

 309,095

 

 

 

 302,682

 

Selling and administrative expenses

 

 

 266,337

 

 

 

 253,095

 

Operating earnings

 

 

 42,758

 

 

 

 49,587

 

Interest expense, net

 

 

 (3,778

)

 

 

 (5,623

)

Other income, net

 

 

 992

 

 

 

 1,492

 

Earnings before income taxes

 

 

 39,972

 

 

 

 45,456

 

Income tax provision

 

 

 (9,174

)

 

 

 (10,664

)

Net earnings

 

 

 30,798

 

 

 

 34,792

 

Net (loss) earnings attributable to noncontrolling interests

 

 

 (141

)

 

 

 65

 

Net earnings attributable to Caleres, Inc.

 

$

 30,939

 

 

$

 34,727

 

 

 

 

 

 

 

 

Basic earnings per common share attributable to Caleres, Inc. shareholders

 

$

 0.88

 

 

$

 0.97

 

 

 

 

 

 

 

 

Diluted earnings per common share attributable to Caleres, Inc. shareholders

 

$

 0.88

 

 

$

 0.97

 

 
 
 
 

SCHEDULE 2

 

CALERES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

(Unaudited)

($ thousands)

    

May 4, 2024

    

April 29, 2023

ASSETS

 

 

  

 

 

 

  

 

Cash and cash equivalents

 

$

 30,709

 

 

$

 36,151

 

Receivables, net

 

 

 164,865

 

 

 

 148,068

 

Inventories, net

 

 

 530,570

 

 

 

 559,467

 

Property and equipment, held for sale

 

 

 16,777

 

 

 

 16,777

 

Prepaid expenses and other current assets

 

 

 62,415

 

 

 

 60,417

 

Total current assets

 

 

 805,336

 

 

 

 820,880

 

 

 

 

 

 

 

 

 

 

Lease right-of-use assets

 

 

 565,822

 

 

 

 513,817

 

Property and equipment, net

 

 

 168,154

 

 

 

 157,730

 

Goodwill and intangible assets, net

 

 

 200,551

 

 

 

 212,353

 

Other assets

 

 

 121,247

 

 

 

 113,303

 

Total assets

 

$

 1,861,110

 

 

$

 1,818,083

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

  

 

 

 

  

 

Borrowings under revolving credit agreement

 

$

 191,000

 

 

$

 291,500

 

Trade accounts payable

 

 

 267,388

 

 

 

 261,753

 

Lease obligations

 

 

 120,872

 

 

 

 136,297

 

Other accrued expenses

 

 

 185,105

 

 

 

 189,727

 

Total current liabilities

 

 

 764,365

 

 

 

 879,277

 

 

 

 

 

 

 

 

 

 

Noncurrent lease obligations

 

 

 482,163

 

 

 

 437,171

 

Other liabilities

 

 

 37,553

 

 

 

 49,754

 

Total other liabilities

 

 

 519,716

 

 

 

 486,925

 

 

 

 

 

 

 

 

 

 

Total Caleres, Inc. shareholders’ equity

 

 

 570,304

 

 

 

 446,317

 

Noncontrolling interests

 

 

 6,725

 

 

 

 5,564

 

Total equity

 

 

 577,029

 

 

 

 451,881

 

Total liabilities and equity

 

$

 1,861,110

 

 

$

 1,818,083

 
 
 
 
 

SCHEDULE 3 

 

CALERES, INC. 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

 

 

 

(Unaudited)

 

 

Thirteen Weeks Ended

($ thousands)

    

May 4, 2024

    

April 29, 2023

OPERATING ACTIVITIES:

 

 

  

 

 

  

Net cash provided by operating activities

 

$

 36,074

 

 

$

 37,497

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES:

 

 

  

 

 

  

Purchases of property and equipment

 

 

 (9,802

)

 

 

 (5,750

)

Capitalized software

 

 

 (524

)

 

 

 (798

)

Net cash used for investing activities

 

 

 (10,326

)

 

 

 (6,548

)

 

 

 

 

 

 

 

FINANCING ACTIVITIES:

 

 

  

 

 

  

Borrowings under revolving credit agreement

 

 

 118,500

 

 

 

 126,000

 

Repayments under revolving credit agreement

 

 

 (109,500

)

 

 

 (142,000

)

Dividends paid

 

 

 (2,442

)

 

 

 (2,482

)

Acquisition of treasury stock

 

 

 (15,070

)

 

 

 —

 

Issuance of common stock under share-based plans, net

 

 

 (7,847

)

 

 

 (10,006

)

Net cash used for financing activities

 

 

 (16,359

)

 

 

 (28,488

)

Effect of exchange rate changes on cash and cash equivalents

 

 

 (38

)

 

 

 (10

)

Increase in cash and cash equivalents

 

 

 9,351

 

 

 

 2,451

 

Cash and cash equivalents at beginning of period

 

 

 21,358

 

 

 

 33,700

 

Cash and cash equivalents at end of period

 

$

 30,709

 

 

$

 36,151

 

 
 
 

SCHEDULE 4 

 

CALERES, INC. 

SUMMARY FINANCIAL RESULTS BY SEGMENT 

 

SUMMARY FINANCIAL RESULTS

         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Thirteen Weeks Ended

 

 

Famous Footwear

 

Brand Portfolio

 

Eliminations and Other

 

Consolidated

 

    

May 4,

 

April 29,

 

May 4,

 

April 29,

 

May 4,

 

April 29,

 

May 4,

 

April 29,

($ thousands)

 

2024

 

2023

 

2024

 

2023

 

2024

 

2023

 

2024

 

2023

Net sales

 

$

349,553

 

 

$

349,158

 

 

$

317,211

 

 

$

325,516

 

 

$

(7,566

)

 

$

(11,940

)

 

$

659,198

 

 

$

662,734

 

Gross profit

 

 

161,005

 

 

 

159,133

 

 

 

147,812

 

 

 

143,858

 

 

 

278

 

 

 

(309

)

 

 

309,095

 

 

 

302,682

 

Gross margin

 

 

46.1

%

 

 

45.6

%

 

 

46.6

%

 

 

44.2

%

 

 

(3.7

)%

 

 

2.6

%

 

 

46.9

%

 

 

45.7

%

Operating earnings (loss)

 

 

16,855

 

 

 

17,056

 

 

 

41,425

 

 

 

42,669

 

 

 

(15,522

)

 

 

(10,138

)

 

 

42,758

 

 

 

49,587

 

Operating margin

  

 

4.8

%

 

 

4.9

%

 

 

13.1

%

 

 

13.1

%

 

 

n/m

%

 

 

n/m

%

 

 

6.5

%

 

 

7.5

%

Comparable sales % (on a 13-week basis)

 

 

(2.3

)%

 

 

(8.5

)%

 

 

0.1

%

 

 

9.4

%

 

 

%

 

 

%

 

 

%

 

 

%

Number of stores

 

 

855

 

 

 

866

 

 

 

99

 

 

 

93

 

 

 

 

 

 

 

 

 

954

 

 

 

959

 

n/m – Not meaningful

 
 
 
 

SCHEDULE 5 

 

CALERES, INC. 

BASIC AND DILUTED EARNINGS PER SHARE RECONCILIATION 

 

 

 

(Unaudited)

 

 

Thirteen Weeks Ended

 

 

May 4, 2024

 

April 29, 2023

($ thousands, except per share data)

 

 

 

 

 

 

Net earnings attributable to Caleres, Inc.:

 

 

  

 

 

  

Net earnings

 

$

 30,798

 

 

$

 34,792

 

Net loss (earnings) attributable to noncontrolling interests

 

 

 141

 

 

 

 (65

)

Net earnings attributable to Caleres, Inc.

 

 

 30,939

 

 

 

 34,727

 

Net earnings allocated to participating securities

 

 

 (1,208

)

 

 

 (1,478

)

Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities

 

$

 29,731

 

 

$

 33,249

 

 

 

 

 

 

 

 

Basic and diluted common shares attributable to Caleres, Inc.:

 

 

  

 

 

  

Basic common shares

 

 

 33,793

 

 

 

 34,407

 

Dilutive effect of share-based awards

 

 

 106

 

 

 

 —

 

Diluted common shares attributable to Caleres, Inc.

 

 

 33,899

 

 

 

 34,407

 

 

 

 

 

 

 

 

Basic earnings per common share attributable to Caleres, Inc. shareholders

 

$

 0.88

 

 

$

 0.97

 

 

 

 

 

 

 

 

Diluted earnings per common share attributable to Caleres, Inc. shareholders

 

$

 0.88

 

 

$

 0.97

 

 
 
 
 

SCHEDULE 6 

 

CALERES, INC. 

CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) 

 

 

 

(Unaudited)

 

    

Thirteen Weeks Ended

($ thousands)

 

May 4, 2024

 

April 29, 2023

EBITDA:

 

 

 

 

 

 

Net earnings attributable to Caleres, Inc.

 

$

30,939

 

 

$

34,727

 

Income tax provision

 

 

9,174

 

 

 

10,664

 

Interest expense, net

 

 

3,778

 

 

 

5,623

 

Depreciation and amortization (1)

 

 

13,490

 

 

 

12,714

 

EBITDA

 

$

57,381

 

 

$

63,728

 

 

 

 

 

 

 

 

EBITDA margin

 

 

8.7

%

 

 

9.6

%

 

 

 

 

 

 

 

 

 

(Unaudited)

 

    

Trailing Twelve Months Ended

($ thousands)

 

May 4, 2024

 

April 29, 2023

EBITDA:

 

 

 

 

 

 

Net earnings attributable to Caleres, Inc.

 

$

167,603

 

 

$

165,960

 

Income tax provision

 

 

8,000

 

 

 

26,670

 

Interest expense, net

 

 

17,498

 

 

 

17,588

 

Depreciation and amortization (1)

 

 

54,056

 

 

 

49,368

 

EBITDA

 

$

247,157

 

 

$

259,586

 

 

 

 

 

 

 

 

EBITDA margin

 

 

8.8

%

 

 

9.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited)

($ thousands)

 

May 4, 2024

 

April 29, 2023

Debt/EBITDA leverage ratio:

 

 

 

 

 

 

Borrowings under revolving credit agreement (2)

 

$

191,000

 

 

$

291,500

 

EBITDA (trailing twelve months)

 

 

247,157

 

 

 

259,586

 

Debt/EBITDA

 

 

0.8

 

 

 

1.1

 

__________________________________

(1)

Includes depreciation and amortization of capitalized software and intangible assets. 

(2)

Total availability under the revolving credit agreement was $299.6 million and $197.9 million as of May 4, 2024 and April 29, 2023, respectively.  Total liquidity, which includes cash and cash equivalents and availability under the revolving credit agreement, was $330.3 million and $234.0 million for the respective periods. 

 

Investor Contact:

Logan Bonacorsi

lbonacorsi@caleres.com

Source: Caleres

FAQ

What were Caleres' earnings per share (EPS) for Q1 2024?

Caleres reported earnings per share of $0.88 for Q1 2024, exceeding expectations.

What was the gross margin for Caleres in the first quarter of 2024?

Caleres achieved a record first-quarter consolidated gross margin of 47%.

How did Caleres' net sales perform in the first quarter of 2024?

Net sales were $659.2 million, down 0.5% from the first quarter of 2023.

What is Caleres' fiscal 2024 outlook for net sales and earnings per share?

Caleres expects fiscal 2024 net sales to be flat to up 2% and earnings per share to range between $4.30 and $4.60.

How much did Caleres invest in share repurchases during the first quarter of 2024?

Caleres repurchased 416,000 shares of common stock for $15.1 million.

What was the percentage of direct-to-consumer sales in Caleres' total net sales for Q1 2024?

Direct-to-consumer sales represented approximately 69% of Caleres' total net sales in Q1 2024.

How did Caleres' inventory change in the first quarter of 2024?

Inventory was down 5.2% from the first quarter of 2023 due to strategic inventory management.

What were Caleres' borrowings under the asset-based revolving credit facility at the end of Q1 2024?

Borrowings under the asset-based revolving credit facility were $191.0 million at the end of Q1 2024, down about $100 million from the first quarter of 2023.

Caleres Inc

NYSE:CAL

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1.12B
35.13M
3.25%
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12.71%
Apparel Retail
Footwear, (no Rubber)
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United States of America
ST LOUIS