Caleres Faces Setbacks: How Did FIVE, GCO & ANF Perform This Holiday?

Core Insights - The holiday season is critical for retailers, significantly affecting their performance, with Caleres Inc. facing unexpected challenges leading to a revised financial outlook [1][2] Group 1: Caleres Inc. Performance - Caleres has revised its financial outlook for fiscal 2024 due to softer-than-expected sales performance [2] - Sales momentum in the athletic segment at Famous Footwear declined in mid-December and January, falling short of expectations, compounded by weather-related disruptions [3] - The updated forecast anticipates consolidated net sales to decline approximately 3% to 3.5% year-over-year, with adjusted earnings projected between $3.20 and$3.30 per share, down from earlier guidance of a 2.5% to 3% decline in sales and adjusted earnings of $3.45-$3.55 per share [4][5] Group 2: Other Retailers' Performance - Five Below reported net sales of $1.19 billion during the holiday period, up from$1.10 billion in the previous year, but comparable sales dipped 3.2% [8] - Based on holiday performance, Five Below expects fourth-quarter sales to be in the upper half of its previous guidance of $1.35 billion to$1.38 billion [9] - Genesco announced a 10% increase in comparable sales for the fourth-quarter-to-date period, with same-store sales rising 6% and e-commerce sales surging 20% [10][11] - Abercrombie & Fitch revised its net sales outlook upward for the fourth quarter and fiscal 2024, expecting growth between 7% and 8% for the fourth quarter, up from 5% to 7% [12][13]