Caleres Inc Stock Price, News & Analysis

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.

Sam Edelman, a leading footwear brand, launched its Fall/Winter 2022 campaign featuring supermodel Naomi Campbell. The campaign highlights both innovative footwear styles and heritage classics like the Felicia ballet and Lorraine loafer. Collaborating with industry icons like Steven Klein and Pat McGrath, the campaign embodies a blend of nostalgia and modernity. It will be showcased in major publications and billboards in New York and Los Angeles. The collection is available on SamEdelman.com and retail locations globally.

Caleres (NYSE: CAL) announced a quarterly cash dividend of $0.07 per share, payable on September 30, 2022, to shareholders on record as of September 9, 2022. This marks the 398th consecutive quarterly dividend paid by the company, reflecting its commitment to returning value to shareholders. Caleres boasts a diverse portfolio of global footwear brands available across various retail channels, emphasizing a dedication to quality and customer satisfaction.

Caleres reported record second quarter net sales of $738.3 million, up 9.3% from the previous year, with earnings per diluted share at $1.38, compared to $0.97 in Q2 2021. Despite a 3.8% decline in the Famous Footwear segment, the Brand Portfolio segment saw a robust 35.6% increase. The company also announced a share repurchase of 1.1 million shares totaling $27.0 million. Looking ahead, Caleres raised its fiscal year 2022 sales guidance to a growth of 4% to 6% and aims for earnings per share between $4.20 and $4.40.

Caleres (NYSE: CAL) will release its second quarter 2022 financial results on August 23 after market close. A conference call will follow at 5:00 p.m. Eastern time where executives will discuss the results and provide a business update. Analysts can join via dial-in numbers, with a replay available until September 6. The call will also be accessible on the Caleres investor website, enhancing transparency for stakeholders.

Caleres (NYSE: CAL) announces a leadership transition as Jay Schmidt will succeed Diane Sullivan as CEO on January 15, 2023. Sullivan, who will take on the role of Executive Chairman, has led the company for over a decade, achieving a six-fold increase in earnings per share. This transition is part of a planned succession process overseen by the Board of Directors. Both leaders express confidence in continuing Caleres' growth and brand strength.

Vionic Shoes, under Caleres (NYSE: CAL), introduces the VIONIC x PROTEUS™ sneaker collection, promoting sustainability and ocean health. The partnership with Proteus Ocean Group commits $500,000 over three years to support innovative ocean preservation solutions. The launch includes eco-conscious Beach sneakers made from recycled materials and features Vionic's Three-Zone Comfort technology. A beach cleanup event in Santa Monica marked the collaboration's start, collecting over 500 pounds of waste and fostering community engagement in ocean conservation.

PROTEUS™ and Vionic Shoes have launched a beach cleanup initiative in Santa Monica, aiming to raise awareness about ocean health and climate change. Fabien Cousteau, grandson of Jacques Cousteau, supports the event that promotes local actions for a sustainable future. The initiative coincides with Vionic's launch of a sustainable footwear collection, underscoring their commitment to environmental responsibility. Approximately 600 million pounds of plastic pollution are present in oceans, highlighting the urgency of such conservation efforts. This partnership emphasizes education and community involvement in addressing climate challenges.