Caleres Inc Stock Price, News & Analysis

Famous Footwear, a brand under Caleres (NYSE: CAL), is collaborating with Ticket to Dream Foundation this Giving Tuesday to support foster children across the U.S. Customers can donate in-store or online, helping provide gifts, laptops, and experiences to those in need. Since 2020, Famous Footwear has raised over $8.8 million for the foundation, with contributions this year including over 7,400 slippers, nearly 15,000 pairs of socks, and 4,800 pairs of Crocs. The initiative highlights Famous Footwear's community commitment and support for over 60,000 foster youth.

Caleres achieved record net sales of $798.3 million for Q3 2022, marking a 1.8% increase year-over-year. The company reported a net income of $39.2 million or $1.08 per diluted share. Significant improvements included a 15.8% decline in inventory from Q2 2022 and a robust gross margin of 42.6%. The company returned $24.1 million to shareholders through buybacks and dividends. For FY 2022, Caleres tightened its earnings outlook to an adjusted EPS range of $4.30 to $4.40, reinforcing its positive growth trajectory amidst economic challenges.

Caleres (NYSE: CAL) will release its third quarter 2022 financial results on November 22, before market opening. A conference call led by company executives is scheduled for 10:00 a.m. Eastern time on the same day to discuss results and provide a business update. North American participants can join by calling (877) 704-4453 or (201) 389-0920 for international callers. A replay will be available until December 6, 2022.

Caleres (NYSE: CAL) announced that five of its brands were recognized in Newsweek’s Best Online Shops 2023. The honored brands include Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer, and Vionic. This recognition reflects Caleres’ focus on enhancing digital experiences. Impressively, Sam Edelman saw a nearly 60% increase in ecommerce sales, while Naturalizer surged by 50%. The awards are based on thorough evaluations and a survey of over 6,000 online shoppers. This acknowledgment is a testament to Caleres' strategic investments in its digital capabilities.

Famous Footwear partnered with the Ticket to Dream Foundation to assist over 20,000 foster youth for back-to-school preparations. The initiative raised $1.1M through customer donations, providing essentials like nearly 16,000 backpacks and over 300 laptops. Famous Footwear also hosted shopping sprees for over 250 foster children. Since 2020, the company has raised $8.2M, enhancing the lives of foster youth by offering educational support and essential supplies, ensuring they begin the school year positively.

Caleres (NYSE: CAL) announced a collaboration with actress and lifestyle influencer Caitlin McHugh Stamos for the Famous Footwear 2022 fall campaign. The partnership highlights the brand's commitment to offering fashionable footwear options that adapt to consumers' lifestyles. Stamos will showcase various styles across digital platforms, including Instagram and TikTok, promoting fall trends. The campaign aims to resonate with consumers seeking versatile shoes that transition from day to night, emphasizing Famous Footwear's extensive selection of popular brands.

Vionic, part of Caleres (NYSE: CAL), is launching a limited-edition footwear collection for Breast Cancer Awareness Month, donating 100% of sales from three styles to the Breast Cancer Research Foundation (BCRF). This initiative includes a minimum commitment of $100,000 to support crucial research. The collection features the Gemma Mule Slipper, Relax Slipper, and Pismo Casual Sneaker, all in pink, with 100% of proceeds going to BCRF. Vionic emphasizes its commitment to corporate social responsibility and community support in the fight against breast cancer.

Allen Edmonds is launching the Legend Series, a collaboration with British heritage brand Barbour. This partnership celebrates craftsmanship, offering limited editions of the Higgins Mill Boot and Evelar Wax Jacket. The collection reflects over 200 years of combined expertise in high-quality menswear. The boots are priced at $475 and the jacket at $330, reflecting a commitment to sustainability with recrafting services available. This initiative aims to appeal to quality-seeking consumers valuing timeless styles. The collaboration is set to continue into 2023.

Caleres (NYSE: CAL) has appointed Jack Calandra as the new senior vice president and chief financial officer, effective September 12, 2022. Calandra succeeds Ken Hannah, who served as CFO for seven years and will assist in the transition. President Jay Schmidt emphasized Calandra's collaborative leadership and extensive experience in retail and finance, making him suitable for the role. Calandra aims to unlock growth opportunities and enhance the company's financial structure for long-term shareholder value.