Financial Data and Key Metrics Changes - In Q4 2023, the company reported sales of $697 million, a slight increase from the previous year, with adjusted earnings per share of $0.86, representing a 32% increase over Q4 2022 [10][71] - Annual consolidated sales were $2.82 billion, down 5.1% compared to fiscal 2022, with adjusted operating earnings of $201 million and a consolidated adjusted operating margin of more than 7% [22][32] - The company generated approximately $260 million in adjusted EBITDA, with a net interest expense of $19 million for the year [32][23] Business Line Data and Key Metrics Changes - The Brand Portfolio achieved a 4.5% increase in sales compared to Q4 2022, with a record annual adjusted operating earnings topping $148 million [11][34] - Famous Footwear experienced a 1.5% decline in total sales and a 5.9% decline in comparable sales, although it gained market share in Shoe Chains [15][22] - The Naturalizer brand saw double-digit sales growth and improved operating margins, gaining 1 point of market share during the quarter [13] Market Data and Key Metrics Changes - The company gained market share in both women's fashion footwear and Shoe Chains for Famous Footwear, particularly in the Kids segment, which saw a 2% increase in sales year-over-year [9][39] - The footwear market is expected to decline by 1% in 2024, impacting the company's growth outlook [25][51] Company Strategy and Development Direction - The company is focused on expanding its direct-to-consumer business and enhancing its e-commerce capabilities, with plans to invest in international expansion and consumer experience [18][20] - The Brand Portfolio is expected to contribute about half of total sales and 60% of operating profit within the next three years, with a strong emphasis on its Lead Brands [38][43] - The company plans to continue its SPEED programs to align inventory with consumer demand, aiming for more than 20% of Brand Portfolio receipts to come through this initiative [42] Management's Comments on Operating Environment and Future Outlook - Management noted a mixed demand environment as they transitioned from Q4 to Q1, with a focus on trend-driven consumer preferences [77] - The company anticipates modest growth in 2024, with guidance for consolidated net sales to be flat to up 1% and earnings per diluted share in line with Q4 2023 [26][73] - Management expressed optimism about the performance of key brands and the potential for improved consumer engagement through loyalty programs [18][56] Other Important Information - The company reduced borrowings by $126 million from 2022, maintaining a debt-to-trailing-12-month-EBITDA ratio of 0.7 times [33][72] - SG&A expenses for Q4 were $273 million, or 39.1% of sales, reflecting effective expense management initiatives [113] Q&A Session Summary Question: What is behind the expectation that the footwear industry will decline this year? - Management indicated that Circana projects the market to be down about 1%, with fashion expected to be the weakest segment [51] Question: How is the company positioned in terms of its own brands in Famous Footwear? - Management noted strong results from brands like Dr. Scholl's and Naturalizer, with plans for significant growth in the coming year [56] Question: What are the expectations for sales growth in the Brand Portfolio for 2024? - The company anticipates low-single digit positive growth for the Brand Portfolio, with Lead Brands expected to perform stronger [61] Question: How does the company plan to manage SG&A expenses throughout the year? - Management mentioned investments in SG&A for Q1, particularly related to marketing campaigns and platform implementation, but expects cost reductions to be built into the 2024 plan [55] Question: What is the outlook for the Kids segment in Famous Footwear? - Management highlighted strong performance in the Kids segment, particularly in athletic shoes, and noted a focus on key brands that resonate with consumers [96][107]

Caleres Inc. (CAL) reported $697.12 million in revenue for the quarter ended January 2024, representing a year- over-year increase of 0.1%. EPS of $0.86 for the same period compares to $0.65 a year ago. The reported revenue represents a surprise of -0.03% over the Zacks Consensus Estimate of $697.31 million. With the consensus EPS estimate being $0.86, the company has not delivered EPS surprise. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expe ...

Caleres Inc. (CAL) came out with quarterly earnings of $0.86 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this footwear wholesaler and retailer would post earnings of $1.28 per share when it actually produced earnings of $1.37, delivering a surprise of 7.03%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Caleres I ...

Exhibit 99.1 News Investor Contact: Logan Bonacorsi lbonacorsi@caleres.com Caleres Reports Fourth Quarter and Full Year 2023 Results ● Generates fourth quarter earnings per share of $1.57 and adjusted earnings per share of $0.86, up 32% year over year ● Achieves third consecutive year of adjusted earnings per share in excess of $4.00 baseline ● Delivers fourth quarter sales growth and record adjusted operating earnings in Brand Portfolio segment ● Reduces revolver borrowings by $40 million compared to third ...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced that Liz Dunn has joined the company as senior vice president of corporate development and strategic communications. In this newly created role, Dunn will leverage her nearly 30 years’ experience spanning equity research, investment banking, consulting, and finance to ensure Caleres aligns its growth ambitions and strategic communications with delivering shareholder value. Dunn ...

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.07 per share to be paid on April 12, 2024, to shareholders of record as of March 28, 2024. The company has paid a consecutive quarterly dividend for more than 100 years. About Caleres Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Allen Ed ...

Wall Street analysts forecast that Caleres Inc. (CAL) will report quarterly earnings of $0.86 per share in its upcoming release, pointing to a year-over-year increase of 32.3%. It is anticipated that revenues will amount to $694.29 million, exhibiting a decline of 0.3% compared to the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial pro ...

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NEW YORK--(BUSINESS WIRE)--Sam Edelman, the contemporary lifestyle brand celebrated for its iconic footwear and a lead brand in the Caleres (NYSE: CAL) portfolio, unveils its Spring/Summer 2024 campaign featuring Kylie Jenner. This seminal campaign marks the start of the Sam Edelman brand’s 20th anniversary celebration taking place throughout the year. Sam and his co-founder, muse, and wife, Libby Edelman’s visionary spirit is captured in a series of profound images of Kylie as we’ve never seen her befor ...

NEW YORK--(BUSINESS WIRE)--Sam Edelman, the contemporary lifestyle brand behind some of the world’s most iconic footwear and a lead brand in the Caleres (NYSE: CAL) portfolio, is thrilled to launch a capsule collection designed in collaboration with students from the Savannah College of Art and Design (SCAD). In a partnership through the university's innovation design studio, SCADpro, talented SCAD students from top-ranked degree programs including sneaker design, accessory design, industrial design, fashio ...