Caleres Reports Second Quarter 2025 Results

ST. LOUIS--(BUSINESS WIRE)-- Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for the second quarter 2025.

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• Reported consolidated sales of $658.5 million, down 3.6% versus the prior year;
  • Brand Portfolio sales decreased 3.5%, with gains in women’s fashion footwear market share and strong performance from Lead Brands in total, and approximately $10 million in tariff impact;
  • Famous Footwear sales declined 4.9%, with comparable sales down 3.4% and meaningful improvement in July;
• Reported gross margin of 43.4%, down 210-basis points year-over-year, reflecting tariff-related costs, selective promotions, and higher provision for inventory markdowns, partially offset by growth in higher-margin direct-to-consumer channels within Brand Portfolio;
• Achieved structural cost savings targets expected to generate annualized savings of $15 million;
• Reported $0.20 in earnings per diluted share and $0.35 in adjusted earnings per diluted share, both of which include a discrete tax benefit of $0.07;
• Enhanced financial flexibility by entering into an amended credit agreement, which extended the maturity date of our asset-based revolving credit facility and increased the company’s borrowing capacity;
• Completed the acquisition of Stuart Weitzman shortly after quarter-end.

“While we did experience headwinds due to market uncertainty, we demonstrated the strength and resilience of our company this quarter. Sales trends improved sequentially in both segments of our business and we saw market share gains in women’s fashion footwear and in shoe chains. We experienced strength in Lead Brands, our Brand Portfolio direct-to-consumer channels, and international. We also saw significant improvement in sales trends at Famous Footwear in July and continuing through August,” said Jay Schmidt, President and Chief Executive Officer.

“As we look to address the changes in the operating environment, we completed our previously announced structural cost savings initiatives that will deliver annualized savings of $15 million and support a more efficient operating structure. Just after quarter-end, we completed the acquisition of Stuart Weitzman, adding a new Lead Brand to our portfolio that aligns with our strategic focus on premium, direct-to-consumer, and international business,” said Schmidt. “Longer term, we will continue looking for ways to leverage our greatest capabilities across our portfolio, and we are confident in our ability to execute our strategic plan, invest to fuel our growth initiatives, and drive sustained value for our shareholders.”

Second Quarter 2025 Results

(13-weeks ended August 2, 2025 compared to 13-weeks ended August 3, 2024)

• Net sales were $658.5 million, down 3.6% from the second quarter of 2024;
  • Famous Footwear segment net sales decreased 4.9%, with comparable sales down 3.4%;
  • Brand Portfolio segment net sales declined 3.5%;
  • Direct-to-consumer sales represented approximately 75% of total net sales;
• Gross profit was $285.8 million, while gross margin was 43.4%, down 210 basis points versus last year;
  • Famous Footwear segment gross margin of 43.7%, down 130 basis points versus last year;
  • Brand Portfolio segment gross margin of 40.3%, down 240 basis points versus last year;
• SG&A was $269.7 million, or 41.0% of net sales, up 170 basis points versus last year, reflecting deleverage on lower sales;
• Net earnings of $6.7 million, or earnings per diluted share of $0.20, and adjusted net earnings of $11.7 million, or adjusted earnings per diluted share of $0.35, compared to net earnings of $30.0 million, or earnings per diluted share of $0.85 in the second quarter of 2024;
• Inventory was $693.3 million at quarter-end, up 4.9% compared to the second quarter of 2024;
• Borrowings under the asset-based revolving credit facility were $387.5 million at quarter-end, up $241 million from the second quarter of 2024, reflecting pre-positioned cash for the Stuart Weitzman acquisition.

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 our dividend. In June, Caleres entered into an amendment of its credit agreement, which extended the senior secured asset-based revolving credit facility to June 2030. The company’s borrowing capacity under the agreement increased by $200 million to $700 million, and the agreement includes an accordion feature, which allows the company to request an increase in the size of the facility to $950 million in the aggregate. The expanded facility provides Caleres with enhanced liquidity and flexibility and further strengthens the balance sheet. Given the volatile and challenging environment, Caleres’ capital allocation priorities are to continue to fund its dividend and to invest in our value-enhancing growth vectors. Longer term, we will balance investment priorities with debt reduction and returning capital to shareholders.

Fiscal 2025 Outlook

Given the uncertainty in the environment, the company will continue to suspend annual guidance. For the month of August, Famous Footwear same-store comparable sales were up 1% and Brand Portfolio sales excluding Stuart Weitzman were up low-single digits. We expect ongoing gross margin pressure in Brand Portfolio from tariffs for the balance of the year. We anticipate third quarter Brand Portfolio gross margin, excluding Stuart Weitzman, to be down similar to second quarter, with improvement in the fourth quarter as we realize more of the benefit from our mitigation strategies.

Investor Conference Call

Caleres will host a conference call at 10:00 a.m. ET today, Thursday, September 4, 2025. The webcast and associated slides will be available at investor.caleres.com/events-and-presentations. 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 also be available at investor.caleres.com/events-and-presentations for a limited period. Investors can access the replay through September 18, 2025 by dialing (844) 512-2921 in North America or (412) 317-6671 internationally and using the conference pin 13755075.

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) and estimated and future operating earnings, net earnings and earnings per diluted share, adjusted to exclude certain gains, charges and recoveries, which are non-GAAP financial measures, 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 these non-GAAP financial measures and metrics 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) changes in United States and international trade policies, including tariffs and trade restrictions; (ii) changing consumer demands, which may be influenced by general economic conditions and other factors; (iii) inflationary pressures and supply chain disruptions; (iv) rapidly changing consumer preferences and purchasing patterns and fashion trends; (v) supplier concentration, customer concentration and increased consolidation in the retail industry; (vi) intense competition within the footwear industry; (vii) foreign currency fluctuations; (viii) 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; (ix) cybersecurity threats or other major disruption to the company’s information technology systems including those related to our ERP upgrade; (x) transitional challenges with acquisitions and divestitures; (xi) the ability to accurately forecast sales and manage inventory levels; (xii) a disruption in the company’s distribution centers; (xiii) the ability to recruit and retain senior management and other key associates; (xiv) the ability to secure/exit leases on favorable terms; (xv) the ability to maintain relationships with current suppliers; (xvi) changes to tax laws, policies and treaties; (xvii) our commitments and shareholder expectations related to responsible business initiatives; (xviii) compliance with applicable laws and standards with respect to labor, trade and product safety issues; and (xix) 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 1, 2025, 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						Twenty-Six Weeks Ended
($ thousands, except per share data)		August 2, 2025			August 3, 2024			August 2, 2025			August 3, 2024
Net sales		$	658,519		$	683,317		$	1,272,740		$	1,342,515
Cost of goods sold			372,724			372,439			708,251			722,542
Gross profit			285,795			310,878			564,489			619,973
Selling and administrative expenses			269,747			268,349			536,230			534,685
Restructuring and other special charges, net			6,756			—			7,383			—
Operating earnings			9,292			42,529			20,876			85,288
Interest expense, net			(4,497)			(3,332)			(8,291)			(7,111)
Other income, net			993			1,177			1,677			2,169
Earnings before income taxes			5,788			40,374			14,262			80,346
Income tax benefit (provision)			1,273			(10,101)			(1,256)			(19,275)
Net earnings			7,061			30,273			13,006			61,071
Net earnings (loss) attributable to noncontrolling interests			348			315			(650)			173
Net earnings attributable to Caleres, Inc.		$	6,713		$	29,958		$	13,656		$	60,898
Basic earnings per common share attributable to Caleres, Inc. shareholders		$	0.20		$	0.85		$	0.40		$	1.73
Diluted earnings per common share attributable to Caleres, Inc. shareholders		$	0.20		$	0.85		$	0.40		$	1.73

SCHEDULE 2

CALERES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

		(Unaudited)
($ thousands)		August 2, 2025			August 3, 2024
ASSETS
Cash and cash equivalents		$	191,494		$	51,753
Receivables, net			136,070			151,055
Inventories, net			693,282			661,146
Property and equipment, held for sale			16,777			16,777
Prepaid expenses and other current assets			61,795			58,969
Total current assets			1,099,418			939,700
Lease right-of-use assets			551,167			588,842
Property and equipment, net			185,628			169,459
Goodwill and intangible assets, net			186,756			197,792
Other assets			129,259			124,192
Total assets		$	2,152,228		$	2,019,985
LIABILITIES AND EQUITY
Borrowings under revolving credit agreement		$	387,500		$	146,500
Trade accounts payable			296,327			396,450
Lease obligations			115,837			116,619
Other accrued expenses			215,423			200,854
Total current liabilities			1,015,087			860,423
Noncurrent lease obligations			465,794			508,950
Other liabilities			49,403			37,128
Total other liabilities			515,197			546,078
Total Caleres, Inc. shareholders’ equity			613,296			606,062
Noncontrolling interests			8,648			7,422
Total equity			621,944			613,484
Total liabilities and equity		$	2,152,228		$	2,019,985

SCHEDULE 3

CALERES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

		(Unaudited)
		Twenty-Six Weeks Ended
($ thousands)		August 2, 2025			August 3, 2024
OPERATING ACTIVITIES:
Net cash provided by operating activities		$	41,646		$	115,696
INVESTING ACTIVITIES:
Purchases of property and equipment			(32,877)			(20,886)
Capitalized software			(1,195)			(922)
Net cash used for investing activities			(34,072)			(21,808)
FINANCING ACTIVITIES:
Borrowings under revolving credit agreement			643,500			306,868
Repayments under revolving credit agreement			(475,500)			(342,368)
Debt issuance costs			(2,920)			—
Dividends paid			(4,729)			(4,899)
Acquisition of treasury stock			(5,049)			(15,070)
Issuance of common stock under share-based plans, net			(3,331)			(8,457)
Contributions by noncontrolling interests			2,250			500
Net cash provided by (used for) financing activities			154,221			(63,426)
Effect of exchange rate changes on cash and cash equivalents			63			(67)
Increase in cash and cash equivalents			161,858			30,395
Cash and cash equivalents at beginning of period			29,636			21,358
Cash and cash equivalents at end of period		$	191,494		$	51,753

SCHEDULE 4

CALERES, INC.

RECONCILIATION OF NET EARNINGS AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS)

		(Unaudited)
		Thirteen Weeks Ended
		August 2, 2025									August 3, 2024
		Pre-Tax			Net Earnings						Pre-Tax			Net Earnings
		Impact of			Attributable				Diluted		Impact of			Attributable			Diluted
($ thousands, except per share data)		Charges/Other			to Caleres,				Earnings		Charges/Other			to Caleres,			Earnings
		Items			Inc.				Per Share		Items			Inc.			Per Share
GAAP earnings					$	6,713		$	0.20					$	29,958		$	0.85
Charges/other items:
Stuart Weitzman acquisition and integration costs		$	2,259			1,678			0.05			—			—			—
Expense reduction initiatives			4,497			3,339			0.10			—			—			—
Total charges/other items		$	6,756		$	5,017		$	0.15		$	—		$	—		$	—
Adjusted earnings					$	11,730		$	0.35					$	29,958		$	0.85

		(Unaudited)
		Twenty-Six Weeks Ended
		August 2, 2025									August 3, 2024
		Pre-Tax			Net Earnings						Pre-Tax			Net Earnings
		Impact of			Attributable			Diluted			Impact of			Attributable			Diluted
($ thousands, except per share data)		Charges/Other			to Caleres,			Earnings			Charges/Other			to Caleres,			Earnings
		Items			Inc.			Per Share			Items			Inc.			Per Share
GAAP earnings					$	13,656		$	0.40					$	60,898		$	1.73
Charges/other items:
Stuart Weitzman acquisition and integration costs		$	2,886			2,143			0.06		$	—			—			—
Expense reduction initiatives			4,497			3,339			0.10			—			—			—
Total charges/other items		$	7,383		$	5,482		$	0.16		$	—		$	—		$	—
Adjusted earnings					$	19,138		$	0.56					$	60,898		$	1.73

		(Unaudited)
		Trailing Twelve Months Ended
		August 2, 2025							August 3, 2024
		Pre-Tax			Net Earnings				Pre-Tax			Net Earnings (Loss)
		Impact of			Attributable				Impact of			Attributable
		Charges/Other			to Caleres,				Charges/Other			to Caleres,
($ thousands)		Items			Inc.				Items			Inc.
GAAP earnings					$	60,013						$	163,619
Charges/other items:
Stuart Weitzman acquisition and integration costs			2,886			2,143				—			—
Expense reduction initiatives			4,497			3,339				4,456			3,308
Exit of Naturalizer retail store operations			4,216			3,131				—			—
Pension settlement cost			2,716			2,017				—			—
Restructuring costs			2,951			2,192				—			—
Deferred tax valuation allowance adjustments			—			—				—			(26,654)
Total charges/other items		$	17,266		$	12,822			$	4,456		$	(23,346)
Adjusted earnings					$	72,835						$	140,273

SCHEDULE 5
CALERES, INC.
SUMMARY FINANCIAL RESULTS BY SEGMENT
SUMMARY FINANCIAL RESULTS

	(Unaudited)
	Thirteen Weeks Ended
	Famous Footwear						Brand Portfolio						Eliminations and Other						Consolidated
	August 2,			August 3,			August 2,			August 3,			August 2,			August 3,			August 2,			August 3,
($ thousands)	2025			2024			2025			2024			2025			2024			2025			2024
Net sales	$	399,593		$	420,289		$	275,620		$	285,497		$	(16,694)		$	(22,469)		$	658,519		$	683,317
Gross profit		174,731			189,337			111,055			121,883			9			(342)			285,795			310,878
Gross margin		43.7	%		45.0	%		40.3	%		42.7	%		(0.1)	%		1.5	%		43.4	%		45.5	%
Operating earnings (loss)		18,551			34,384			6,649			23,620			(15,908)			(15,475)			9,292			42,529
Adjusted operating earnings (loss)		18,674			34,384			8,441			23,620			(11,067)			(15,475)			16,048			42,529
Operating margin		4.6	%		8.2	%		2.4	%		8.3	%		n/m	%		n/m	%		1.4	%		6.2	%
Adjusted operating earnings %		4.7	%		8.2	%		3.1	%		8.3	%		n/m	%		n/m	%		2.4	%		6.2	%
Comparable sales % (on a 13-week basis)		(3.4)	%		(2.9)	%		3.9	%		4.4	%		—	%		—	%		—	%		—	%
Company-operated stores, end of period		830			855			118			104			—			—			948			959
n/m – Not meaningful

RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)
	(Unaudited)
	Thirteen Weeks Ended
	Famous Footwear						Brand Portfolio						Eliminations and Other						Consolidated
	August 2,			August 3,			August 2,			August 3,			August 2,			August 3,			August 2,			August 3,
($ thousands)	2025			2024			2025			2024			2025			2024			2025			2024
Operating earnings (loss)	$	18,551		$	34,384		$	6,649		$	23,620		$	(15,908)		$	(15,475)		$	9,292		$	42,529
Charges/Other Items:
Stuart Weitzman acquisition and integration costs		—			—			—			—			2,259			—			2,259			—
Expense reduction initiatives		123			—			1,792			—			2,582			—			4,497			—
Total charges/other items		123			—			1,792			—			4,841			—			6,756			—
Adjusted operating earnings (loss)	$	18,674		$	34,384		$	8,441		$	23,620		$	(11,067)		$	(15,475)		$	16,048		$	42,529

SCHEDULE 5
CALERES, INC.
SUMMARY FINANCIAL RESULTS BY SEGMENT
SUMMARY FINANCIAL RESULTS

		(Unaudited)
		Famous Footwear						Brand Portfolio						Eliminations and Other						Consolidated
		Twenty-Six Weeks Ended
		August 2,			August 3,			August 2,			August 3,			August 2,			August 3,			August 2,			August 3,
($ thousands)		2025			2024			2025			2024			2025			2024			2025			2024
Net sales		$	727,269		$	769,841		$	571,015		$	602,708		$	(25,544)		$	(30,034)		$	1,272,740		$	1,342,515
Gross profit			323,173			350,342			240,341			269,695			975			(64)			564,489			619,973
Gross profit rate			44.4	%		45.5	%		42.1	%		44.7	%		(3.8)	%		0.2	%		44.4	%		46.2	%
Operating earnings (loss)			23,525			51,240			24,064			65,045			(26,713)			(30,997)			20,876			85,288
Adjusted operating earnings (loss)			23,648			51,240			25,856			65,045			(21,245)			(30,997)			28,259			85,288
Operating earnings %			3.2	%		6.7	%		4.2	%		10.8	%		n/m	%		n/m	%		1.6	%		6.4	%
Adjusted operating earnings %			3.3	%		6.7	%		4.5	%		10.8	%		n/m	%		n/m	%		2.2	%		6.4	%
Comparable sales % (on a 26-week basis)			(3.9)	%		(2.6)	%		1.1	%		1.9	%		—	%		—	%		—	%		—	%
Company-operated stores, end of period			830			855			118			104			—			—			948			959
n/m – Not meaningful

RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)

		(Unaudited)
		Famous Footwear						Brand Portfolio						Eliminations and Other						Consolidated
		Twenty-Six Weeks Ended
		August 2,			August 3,			August 2,			August 3,			August 2,			August 3,			August 2,			August 3,
($ thousands)		2025			2024			2025			2024			2025			2024			2025			2024
Operating earnings (loss)		$	23,525		$	51,240		$	24,064		$	65,045		$	(26,713)		$	(30,997)		$	20,876		$	85,288
Charges/Other Items:
Stuart Weitzman acquisition and integration costs			—			—			—			—			2,886			—			2,886			—
Expense reduction initiatives			123			—			1,792			—			2,582			—			4,497			—
Total charges/other items			123			—			1,792			—			5,468			—			7,383			—
Adjusted operating earnings (loss)		$	23,648		$	51,240		$	25,856		$	65,045		$	(21,245)		$	(30,997)		$	28,259		$	85,288

SCHEDULE 6

CALERES, INC.

BASIC AND DILUTED EARNINGS PER SHARE RECONCILIATION

		(Unaudited)
		Thirteen Weeks Ended						Twenty-Six Weeks Ended
		August 2, 2025			August 3, 2024			August 2, 2025			August 3, 2024
($ thousands, except per share data)
Net earnings attributable to Caleres, Inc.:
Net earnings		$	7,061		$	30,273		$	13,006		$	61,071
Net (earnings) loss attributable to noncontrolling interests			(348)			(315)			650			(173)
Net earnings attributable to Caleres, Inc.			6,713			29,958			13,656			60,898
Net earnings allocated to participating securities			(263)			(1,065)			(503)			(2,278)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities		$	6,450		$	28,893		$	13,153		$	58,620
Basic and diluted common shares attributable to Caleres, Inc.:
Basic common shares			32,494			33,883			32,509			33,838
Dilutive effect of share-based awards			127			106			127			106
Diluted common shares attributable to Caleres, Inc.			32,621			33,989			32,636			33,944
Basic earnings per common share attributable to Caleres, Inc. shareholders		$	0.20		$	0.85		$	0.40		$	1.73
Diluted earnings per common share attributable to Caleres, Inc. shareholders		$	0.20		$	0.85		$	0.40		$	1.73

SCHEDULE 7

CALERES, INC.

BASIC AND DILUTED ADJUSTED EARNINGS PER SHARE RECONCILIATION

		(Unaudited)
		Thirteen Weeks Ended						Twenty-Six Weeks Ended
		August 2, 2025			August 3, 2024			August 2, 2025			August 3, 2024
($ thousands, except per share data)
Adjusted net earnings attributable to Caleres, Inc.:
Adjusted net earnings		$	12,078		$	30,273		$	18,488		$	61,071
Net (earnings) loss attributable to noncontrolling interests			(348)			(315)			650			(173)
Adjusted net earnings attributable to Caleres, Inc.			11,730			29,958			19,138			60,898
Net earnings allocated to participating securities			(461)			(1,065)			(711)			(2,278)
Adjusted net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities		$	11,269		$	28,893		$	18,427		$	58,620
Basic and diluted common shares attributable to Caleres, Inc.:
Basic common shares			32,494			33,883			32,509			33,838
Dilutive effect of share-based awards			127			106			127			106
Diluted common shares attributable to Caleres, Inc.			32,621			33,989			32,636			33,944
Basic adjusted earnings per common share attributable to Caleres, Inc. shareholders		$	0.35		$	0.85		$	0.57		$	1.73
Diluted adjusted earnings per common share attributable to Caleres, Inc. shareholders		$	0.35		$	0.85		$	0.56		$	1.73

SCHEDULE 8

CALERES, INC.

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

		(Unaudited)
		Thirteen Weeks Ended
($ thousands)		August 2, 2025				August 3, 2024
EBITDA:
Net earnings attributable to Caleres, Inc.		$	6,713			$	29,958
Income tax (benefit) provision			(1,273)				10,101
Interest expense, net			4,497				3,332
Depreciation and amortization (1)			15,365				13,818
EBITDA		$	25,302			$	57,209
EBITDA margin			3.8	%			8.4	%
Adjusted EBITDA:
Adjusted net earnings attributable to Caleres, Inc. (2)		$	11,730			$	29,958
Income tax provision (3)			466				10,101
Interest expense, net			4,497				3,332
Depreciation and amortization (1)			15,365				13,818
Adjusted EBITDA		$	32,058			$	57,209
Adjusted EBITDA margin			4.9	%			8.4	%

		(Unaudited)
		Trailing Twelve Months Ended
($ thousands)		August 2, 2025				August 3, 2024
EBITDA:
Net earnings attributable to Caleres, Inc.		$	60,013			$	163,619
Income tax provision			11,042				6,275
Interest expense, net			15,137				15,703
Depreciation and amortization (1)			59,269				55,140
EBITDA		$	145,461			$	240,737
EBITDA margin			5.5	%			8.6	%
Adjusted EBITDA:
Adjusted net earnings attributable to Caleres, Inc. (2)		$	72,835			$	140,273
Income tax provision (3)			15,486				34,077
Interest expense, net			15,137				15,703
Depreciation and amortization (1)			59,269				55,140
Adjusted EBITDA		$	162,727			$	245,193
Adjusted EBITDA margin			6.1	%			8.8	%
		(Unaudited)
($ thousands)		August 2, 2025				August 3, 2024
Debt/EBITDA leverage ratio:
Borrowings under revolving credit agreement		$	387,500			$	146,500
EBITDA (trailing twelve months)			145,461				240,737
Debt/EBITDA			2.7				0.6

___________________________
(1)		Includes depreciation and amortization of capitalized software and intangible assets.
(2)		Refer to Schedule 4 for the consolidated reconciliation of net earnings attributable to Caleres, Inc. to adjusted net earnings attributable to Caleres, Inc.
(3)		Excludes the income tax impacts of the adjustments on Schedule 4.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250904899109/en/

Investor Contact

Liz Dunn

ldunn@caleres.com

Source: Caleres