Caleres (NYSE: CAL) (caleres.com) today announced it plans to release its first quarter 2019 financial results after market close on Monday, June 3. Company executives will host a financial analyst call at 4:30 p.m. ET that day, to discuss first quarter results and to provide a general business update.
The dial-in number for financial analysts in North America is (877) 217-9089, or (706) 679-1723 for international analysts, and the conference ID is 8758845. To participate, please dial in a few minutes before the scheduled time. Employees, the media and the public are invited to listen to the call at investor.caleres.com/news/events.
A replay of the call will be available through Saturday, June 8, by dialing (855) 859-2056 in North America, or (404) 537-3406 internationally, and using the conference ID 8758845. A webcast replay will also be archived for a limited period at investor.caleres.com/news/events/archive.
Caleres also announced it is changing its segment presentation to reflect growth in intersegment activity, driven by recent acquisitions, and to better align reporting with its independent business model. The company will continue to present two reportable segments, Famous Footwear and Brand Portfolio, however, beginning with the first quarter of 2019, Caleres will present Brand Portfolio net sales inclusive of both external and intersegment sales.
The elimination of intersegment sales and profit from Brand Portfolio to Famous Footwear will be reflected within the Eliminations and Other category. In conjunction with the change, 2017 and 2018 results have been recast and the related quarterly historical segment results are included in the schedules to this release.
About Caleres - Caleres is a diverse portfolio of global footwear brands. Our products are available virtually everywhere - in the over 1,200 retail stores we operate, in hundreds of major department and specialty stores, on our branded e-commerce sites, and on many additional third-party retail websites. Famous Footwear offers great brands for the entire family with convenient, curated, affordable collections. Sam Edelman keeps expressive women in step with the latest trends in a playful, whimsical way. Naturalizer shoes are beautiful from the inside out, with elegant simplicity and legendary fit re-imagined for today’s consumer. Allen Edmonds combines old world craft with new world technology to create luxe footwear for the discerning man who wants sophisticated, modern classics. Rounding out our family of brands are Vionic, Dr. Scholl’s Shoes, Vince, Franco Sarto, LifeStride, Via Spiga, Blowfish Malibu, Bzees, Circus by Sam Edelman, Fergie and Ryka. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is our more than 140 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great… feet first. Visit caleres.com to learn more about us.
| CALERES, INC. | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
May 5, |
April 29, |
May 5, |
April 29, |
May 5, |
April 29, |
May 5, |
April 29, | ||||||||||||||||||||||||
| Net sales | $ | 363,411 | $ | 366,494 | $ | 283,497 | $ | 279,715 | $ | (14,766 | ) | $ | (14,700 | ) | $ | 632,142 | $ | 631,509 | ||||||||||||||
| Gross profit | $ | 165,201 | $ | 167,690 | $ | 108,861 | $ | 102,504 | $ | 859 | $ | 714 | $ | 274,921 | $ | 270,908 | ||||||||||||||||
| Adjusted gross profit | $ | 165,201 | $ | 167,690 | $ | 108,861 | $ | 105,533 | $ | 859 | $ | 714 | $ | 274,921 | $ | 273,937 | ||||||||||||||||
| Gross profit rate | 45.5 | % | 45.8 | % | 38.4 | % | 36.7 | % | (5.8 | )% | (4.9 | )% | 43.5 | % | 42.9 | % | ||||||||||||||||
| Adjusted gross profit rate | 45.5 | % | 45.8 | % | 38.4 | % | 37.7 | % | (5.8 | )% | (4.9 | )% | 43.5 | % | 43.4 | % | ||||||||||||||||
| Operating earnings (loss) | $ | 21,857 | $ | 20,279 | $ | 11,627 | $ | 12,600 | $ | (10,538 | ) | $ | (9,590 | ) | $ | 22,946 | $ | 23,289 | ||||||||||||||
| Adjusted operating earnings (loss) | $ | 21,857 | $ | 20,279 | $ | 13,211 | $ | 16,475 | $ | (10,344 | ) | $ | (9,328 | ) | $ | 24,724 | $ | 27,426 | ||||||||||||||
| Operating earnings (loss) % | 6.0 | % | 5.5 | % | 4.1 | % | 4.5 | % | 71.4 | % | 65.2 | % | 3.6 | % | 3.7 | % | ||||||||||||||||
| Adjusted operating earnings % | 6.0 | % | 5.5 | % | 4.7 | % | 5.9 | % | 70.1 | % | 63.5 | % | 3.9 | % | 4.3 | % | ||||||||||||||||
| Same-store sales % (on a 13-week basis) (1) | (0.8 | )% | (0.6 | )% | (1.0 | )% | 2.3 | % | — | % | — | % | — | % | — | % | ||||||||||||||||
| Number of stores | 1,013 | 1,052 | 235 | 233 | — | — | 1,248 | 1,285 | ||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
May 5, |
April 29, |
May 5, |
April 29, |
May 5, |
April 29, |
May 5, |
April 29, | ||||||||||||||||||||||||
| Gross profit | $ | 165,201 | $ | 167,690 | $ | 108,861 | $ | 102,504 | $ | 859 | $ | 714 | $ | 274,921 | $ | 270,908 | ||||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Acquisition, integration and reorganization of men's brands | — | — | — | 3,029 | — | — | — | 3,029 | ||||||||||||||||||||||||
| Total charges/other items | — | — | — | 3,029 | — | — | — | 3,029 | ||||||||||||||||||||||||
| Adjusted gross profit | $ | 165,201 | $ | 167,690 | $ | 108,861 | $ | 105,533 | $ | 859 | $ | 714 | $ | 274,921 | $ | 273,937 | ||||||||||||||||
| Operating earnings (loss) | $ | 21,857 | $ | 20,279 | $ | 11,627 | $ | 12,600 | $ | (10,538 | ) | $ | (9,590 | ) | $ | 22,946 | $ | 23,289 | ||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Acquisition, integration and reorganization of men's brands | — | — | 1,584 | 3,875 | 194 | 262 | 1,778 | 4,137 | ||||||||||||||||||||||||
| Total charges/other items | — | — | 1,584 | 3,875 | 194 | 262 | 1,778 | 4,137 | ||||||||||||||||||||||||
| Adjusted operating earnings (loss) | $ | 21,857 | $ | 20,279 | $ | 13,211 | $ | 16,475 | $ | (10,344 | ) | $ | (9,328 | ) | $ | 24,724 | $ | 27,426 | ||||||||||||||
| (1) The thirteen-week period ended April 29, 2017 excludes sales from Allen Edmonds. | ||||||||||||||||||||||||||||||||
| CALERES, INC. | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
August 4, |
July 29, |
August 4, |
July 29, |
August 4, |
July 29, |
August 4, |
July 29, | ||||||||||||||||||||||||
| Net sales | $ | 429,472 | $ | 404,930 | $ | 305,021 | $ | 301,874 | $ | (27,881 | ) | $ | (29,850 | ) | $ | 706,612 | $ | 676,954 | ||||||||||||||
| Gross profit | $ | 187,114 | $ | 183,309 | $ | 108,288 | $ | 106,219 | $ | (2,301 | ) | $ | (2,067 | ) | $ | 293,101 | $ | 287,461 | ||||||||||||||
| Adjusted gross profit | $ | 187,114 | $ | 183,309 | $ | 108,828 | $ | 108,129 | $ | (2,301 | ) | $ | (2,067 | ) | $ | 293,641 | $ | 289,371 | ||||||||||||||
| Gross profit rate | 43.6 | % | 45.3 | % | 35.5 | % | 35.2 | % | 8.3 | % | 6.9 | % | 41.5 | % | 42.5 | % | ||||||||||||||||
| Adjusted gross profit rate | 43.6 | % | 45.3 | % | 35.6 | % | 35.8 | % | 8.3 | % | 6.9 | % | 41.6 | % | 42.7 | % | ||||||||||||||||
| Operating earnings (loss) | $ | 33,240 | $ | 25,112 | $ | 15,909 | $ | 17,983 | $ | (17,006 | ) | $ | (14,669 | ) | $ | 32,143 | $ | 28,426 | ||||||||||||||
| Adjusted operating earnings (loss) | $ | 33,240 | $ | 25,112 | $ | 18,248 | $ | 20,529 | $ | (16,682 | ) | $ | (12,440 | ) | $ | 34,806 | $ | 33,201 | ||||||||||||||
| Operating earnings (loss) % | 7.7 | % | 6.2 | % | 5.2 | % | 6.0 | % | 61.0 | % | 49.1 | % | 4.5 | % | 4.2 | % | ||||||||||||||||
| Adjusted operating earnings % | 7.7 | % | 6.2 | % | 6.0 | % | 6.8 | % | 59.8 | % | 41.7 | % | 4.9 | % | 4.9 | % | ||||||||||||||||
| Same-store sales % (on a 13-week basis) (1) | 2.6 | % | 2.8 | % | (1.3 | )% | 15.8 | % | — | % | — | % | — | % | — | % | ||||||||||||||||
| Number of stores | 1,008 | 1,055 | 233 | 238 | — | — | 1,241 | 1,293 | ||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
August 4, |
July 29, |
August 4, |
July 29, |
August 4, |
July 29, |
August 4, |
July 29, | ||||||||||||||||||||||||
| Gross profit | $ | 187,114 | $ | 183,309 | $ | 108,288 | $ | 106,219 | $ | (2,301 | ) | $ | (2,067 | ) | $ | 293,101 | $ | 287,461 | ||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Blowfish Malibu acquisition-related costs | — | — | 540 | — | — | — | 540 | — | ||||||||||||||||||||||||
| Acquisition, integration and reorganization of men's brands | — | — | — | 1,910 | — | — | — | 1,910 | ||||||||||||||||||||||||
| Total charges/other items | — | — | 540 | 1,910 | — | — | 540 | 1,910 | ||||||||||||||||||||||||
| Adjusted gross profit | $ | 187,114 | $ | 183,309 | $ | 108,828 | $ | 108,129 | $ | (2,301 | ) | $ | (2,067 | ) | $ | 293,641 | $ | 289,371 | ||||||||||||||
| Operating earnings (loss) | $ | 33,240 | $ | 25,112 | $ | 15,909 | $ | 17,983 | $ | (17,006 | ) | $ | (14,669 | ) | $ | 32,143 | $ | 28,426 | ||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Blowfish Malibu acquisition-related costs | — | — | 540 | — | 238 | — | 778 | — | ||||||||||||||||||||||||
| Acquisition, integration and reorganization of men's brands | — | — | 1,799 | 2,546 | 86 | 2,229 | 1,885 | 4,775 | ||||||||||||||||||||||||
| Total charges/other items | — | — | 2,339 | 2,546 | 324 | 2,229 | 2,663 | 4,775 | ||||||||||||||||||||||||
| Adjusted operating earnings (loss) | $ | 33,240 | $ | 25,112 | $ | 18,248 | $ | 20,529 | $ | (16,682 | ) | $ | (12,440 | ) | $ | 34,806 | $ | 33,201 | ||||||||||||||
| (1) The thirteen-week period ended July 29, 2017 excludes sales from Allen Edmonds. | ||||||||||||||||||||||||||||||||
| CALERES, INC. | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | ||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
November 3, |
October 28, |
November 3, |
October 28, |
November 3, |
October 28, |
November 3, |
October 28, | ||||||||||||||||||||||||
| Net sales | $ | 448,765 | $ | 473,118 | $ | 343,032 | $ | 316,756 | $ | (15,968 | ) | $ | (15,218 | ) | $ | 775,829 | $ | 774,656 | ||||||||||||||
| Gross profit | $ | 182,487 | $ | 198,073 | $ | 126,558 | $ | 117,026 | $ | 1,565 | $ | 1,786 | $ | 310,610 | $ | 316,885 | ||||||||||||||||
| Adjusted gross profit | $ | 182,487 | $ | 198,073 | $ | 128,404 | $ | 117,026 | $ | 1,565 | $ | 1,786 | $ | 312,456 | $ | 316,885 | ||||||||||||||||
| Gross profit rate | 40.7 | % | 41.9 | % | 36.9 | % | 37.0 | % | (9.8 | )% | (11.7 | )% | 40.0 | % | 40.9 | % | ||||||||||||||||
| Adjusted gross profit rate | 40.7 | % | 41.9 | % | 37.4 | % | 36.9 | % | (9.8 | )% | (11.7 | )% | 40.3 | % | 40.9 | % | ||||||||||||||||
| Operating earnings (loss) | $ | 24,414 | $ | 33,747 | $ | 25,114 | $ | 22,495 | $ | (9,780 | ) | $ | (5,864 | ) | $ | 39,748 | $ | 50,378 | ||||||||||||||
| Adjusted operating earnings (loss) | $ | 24,414 | $ | 33,747 | $ | 28,015 | $ | 22,495 | $ | (5,495 | ) | $ | (5,864 | ) | $ | 46,934 | $ | 50,378 | ||||||||||||||
| Operating earnings (loss) % | 5.4 | % | 7.1 | % | 7.3 | % | 7.1 | % | 61.2 | % | 38.5 | % | 5.1 | % | 6.5 | % | ||||||||||||||||
| Adjusted operating earnings % | 5.4 | % | 7.1 | % | 8.2 | % | 7.1 | % | 34.4 | % | 38.5 | % | 6.0 | % | 6.5 | % | ||||||||||||||||
| Same-store sales % (on a 13-week basis) (1) | 2.8 | % | 0.9 | % | 1.7 | % | 2.4 | % | — | % | — | % | — | % | — | % | ||||||||||||||||
| Number of stores | 1,007 | 1,042 | 232 | 235 | — | — | 1,239 | 1,277 | ||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) | ||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | |||||||||||||||||||||||||||||
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks |
13 Weeks | |||||||||||||||||||||||||
| (Thousands) |
November 3, |
October 28, |
November 3, |
October 28, |
November 3, |
October 28, |
November 3, |
October 28, | ||||||||||||||||||||||||
| Gross profit | $ | 182,487 | $ | 198,073 | $ | 126,558 | $ | 117,026 | $ | 1,565 | $ | 1,786 | $ | 310,610 | $ | 316,885 | ||||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Blowfish Malibu acquisition-related costs | — | — | 932 | — | — | — | 932 | — | ||||||||||||||||||||||||
| Vionic acquisition-related costs | — | — | 914 | — | — | — | 914 | — | ||||||||||||||||||||||||
| Total charges/other items | — | — | 1,846 | — | — | — | 1,846 | — | ||||||||||||||||||||||||
| Adjusted gross profit | $ | 182,487 | $ | 198,073 | $ | 128,404 | $ | 117,026 | $ | 1,565 | $ | 1,786 | $ | 312,456 | $ | 316,885 | ||||||||||||||||
| Operating earnings (loss) | $ | 24,414 | $ | 33,747 | $ | 25,114 | $ | 22,495 | $ | (9,780 | ) | $ | (5,864 | ) | $ | 39,748 | $ | 50,378 | ||||||||||||||
Charges/Other Items: | ||||||||||||||||||||||||||||||||
| Blowfish Malibu acquisition and integration-related costs | — | — | 932 | — | 68 | — | 1,000 | — | ||||||||||||||||||||||||
| Vionic acquisition-related costs | — | — | 914 | — | 4,108 | — | 5,022 | — | ||||||||||||||||||||||||
| Acquisition, integration and reorganization of men's brands | — | — | 1,055 | — | 109 | — | 1,164 | — | ||||||||||||||||||||||||
| Total charges/other items | — | — | 2,901 | — | 4,285 | — | 7,186 | — | ||||||||||||||||||||||||
| Adjusted operating earnings (loss) | $ | 24,414 | $ | 33,747 | $ | 28,015 | $ | 22,495 | $ | (5,495 | ) | $ | (5,864 | ) | $ | 46,934 | $ | 50,378 | ||||||||||||||
| (1) The thirteen-week period ended October 28, 2017 excludes sales from Allen Edmonds. | ||||||||||||||||||||||||||||||||
| CALERES, INC. | |||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | |||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | ||||||||||||||||||||||||||||||
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks | ||||||||||||||||||||||||||
| (Thousands) |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, | |||||||||||||||||||||||||
| Net sales | $ | 365,160 | $ | 393,085 | $ | 382,001 | $ | 334,736 | $ | (26,898 | ) | $ | (25,356 | ) | $ | 720,263 | $ | 702,465 | |||||||||||||||
| Gross profit | $ | 156,028 | $ | 175,362 | $ | 123,212 | $ | 118,415 | $ | (1,528 | ) | $ | (382 | ) | $ | 277,712 | $ | 293,395 | |||||||||||||||
| Adjusted gross profit | $ | 156,028 | $ | 175,362 | $ | 133,197 | $ | 118,415 | $ | (1,528 | ) | $ | (382 | ) | $ | 287,697 | $ | 293,395 | |||||||||||||||
| Gross profit rate | 42.7 | % | 44.6 | % | 32.3 | % | 35.4 | % | 5.7 | % | 1.5 | % | 38.6 | % | 41.8 | % | |||||||||||||||||
| Adjusted gross profit rate | 42.7 | % | 44.6 | % | 34.9 | % | 35.4 | % | 5.7 | % | 1.5 | % | 39.9 | % | 41.8 | % | |||||||||||||||||
| Operating earnings (loss) | $ | 5,757 | $ | 13,093 | $ | (93,450 | ) | $ | 27,082 | $ | (6,744 | ) | $ | (14,584 | ) | $ | (94,437 | ) | $ | 25,591 | |||||||||||||
| Adjusted operating earnings (loss) | $ | 6,149 | $ | 13,657 | $ | 20,678 | $ | 27,237 | $ | (6,341 | ) | $ | (14,361 | ) | $ | 20,486 | $ | 26,533 | |||||||||||||||
| Operating earnings (loss) % | 1.6 | % | 3.3 | % | (24.5 | )% | 8.1 | % | 25.1 | % | 57.5 | % | (13.1 | )% | 3.6 | % | |||||||||||||||||
| Adjusted operating earnings % | 1.7 | % | 3.5 | % | 5.4 | % | 8.1 | % | 23.6 | % | 56.6 | % | 2.8 | % | 3.8 | % | |||||||||||||||||
| Same-store sales % (on a 13-week basis) (1) | 1.1 | % | 2.8 | % | 0.2 | % | 5.9 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Number of stores | 992 | 1,026 | 229 | 236 | — | — | 1,221 | 1,262 | |||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) | |||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | ||||||||||||||||||||||||||||||
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks |
13 Weeks |
14 Weeks | ||||||||||||||||||||||||||
| (Thousands) |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, | |||||||||||||||||||||||||
| Gross profit | $ | 156,028 | $ | 175,362 | $ | 123,212 | $ | 118,415 | $ | (1,528 | ) | $ | (382 | ) | $ | 277,712 | $ | 293,395 | |||||||||||||||
Charges/Other Items: | |||||||||||||||||||||||||||||||||
| Blowfish Malibu acquisition and integration-related costs | — | — | 244 | — | — | — | 244 | — | |||||||||||||||||||||||||
| Vionic acquisition and integration-related costs | — | — | 7,973 | — | — | — | 7,973 | — | |||||||||||||||||||||||||
| Brand Portfolio - business exits | — | — | 1,768 | — | — | — | 1,768 | — | |||||||||||||||||||||||||
| Total charges/other items | — | — | 9,985 | — | — | — | 9,985 | — | |||||||||||||||||||||||||
| Adjusted gross profit | $ | 156,028 | $ | 175,362 | $ | 133,197 | $ | 118,415 | $ | (1,528 | ) | $ | (382 | ) | $ | 287,697 | $ | 293,395 | |||||||||||||||
| Operating earnings (loss) | $ | 5,757 | $ | 13,093 | $ | (93,450 | ) | $ | 27,082 | $ | (6,744 | ) | $ | (14,584 | ) | $ | (94,437 | ) | $ | 25,591 | |||||||||||||
Charges/Other Items: | |||||||||||||||||||||||||||||||||
| Impairment of goodwill and intangible assets | — | — | 98,044 | — | — | — | 98,044 | — | |||||||||||||||||||||||||
| Integration and reorganization of men's brands | — | — | 984 | — | 30 | — | 1,014 | — | |||||||||||||||||||||||||
| Logistics transition | — | — | 4,488 | — | — | — | 4,488 | — | |||||||||||||||||||||||||
| Blowfish Malibu acquisition and integration-related costs | — | — | 244 | — | — | — | 244 | — | |||||||||||||||||||||||||
| Vionic acquisition and integration-related costs | — | — | 7,973 | — | 373 | — | 8,346 | — | |||||||||||||||||||||||||
| Brand Portfolio - business exits | — | — | 2,395 | — | — | — | 2,395 | — | |||||||||||||||||||||||||
| Retail operations restructuring | 392 | 564 | — | 155 | — | 223 | 392 | 942 | |||||||||||||||||||||||||
| Total charges/other items | 392 | 564 | 114,128 | 155 | 403 | 223 | 114,923 | 942 | |||||||||||||||||||||||||
| Adjusted operating earnings (loss) | $ | 6,149 | $ | 13,657 | $ | 20,678 | $ | 27,237 | $ | (6,341 | ) | $ | (14,361 | ) | $ | 20,486 | $ | 26,533 | |||||||||||||||
| (1) The fourteen-week period ended February 3, 2018 excludes sales from Allen Edmonds. | |||||||||||||||||||||||||||||||||
| CALERES, INC. | |||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | |||||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS | |||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Eliminations and Other | Consolidated | ||||||||||||||||||||||||||||||
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks | ||||||||||||||||||||||||||
| (Thousands) |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, | |||||||||||||||||||||||||
| Net sales | $ | 1,606,808 | $ | 1,637,627 | $ | 1,313,551 | $ | 1,233,081 | $ | (85,513 | ) | $ | (85,124 | ) | $ | 2,834,846 | $ | 2,785,584 | |||||||||||||||
| Gross profit | $ | 690,830 | $ | 724,434 | $ | 466,919 | $ | 444,164 | $ | (1,405 | ) | $ | 51 | $ | 1,156,344 | $ | 1,168,649 | ||||||||||||||||
| Adjusted gross profit | $ | 690,830 | $ | 724,434 | $ | 479,291 | $ | 449,103 | $ | (1,405 | ) | $ | 51 | $ | 1,168,716 | $ | 1,173,588 | ||||||||||||||||
| Gross profit rate | 43.0 | % | 44.2 | % | 35.5 | % | 36.0 | % | 1.6 | % | — | % | 40.8 | % | 42.0 | % | |||||||||||||||||
| Adjusted gross profit rate | 43.0 | % | 44.2 | % | 36.5 | % | 36.4 | % | 1.6 | % | — | % | 41.2 | % | 42.1 | % | |||||||||||||||||
| Operating earnings (loss) | $ | 85,268 | $ | 92,230 | $ | (40,799 | ) | $ | 80,160 | $ | (44,068 | ) | $ | (44,707 | ) | $ | 401 | $ | 127,683 | ||||||||||||||
| Adjusted operating earnings (loss) | $ | 85,660 | $ | 92,794 | $ | 80,152 | $ | 86,736 | $ | (38,861 | ) | $ | (41,993 | ) | $ | 126,951 | $ | 137,537 | |||||||||||||||
| Operating earnings (loss) % | 5.3 | % | 5.6 | % | (3.1 | )% | 6.5 | % | 51.5 | % | 52.5 | % | 0.0 | % | 4.6 | % | |||||||||||||||||
| Adjusted operating earnings % | 5.3 | % | 5.7 | % | 6.1 | % | 7.0 | % | 45.4 | % | 49.3 | % | 4.5 | % | 4.9 | % | |||||||||||||||||
| Same-store sales % (on a 52-week basis) (1) | 1.5 | % | 1.4 | % | (0.1 | )% | 6.4 | % | — | % | — | % | — | % | — | % | |||||||||||||||||
| Number of stores | 992 | 1,026 | 229 | 236 | — | — | 1,221 | 1,262 | |||||||||||||||||||||||||
| (1) The fifty-three week period ended February 3, 2018 excludes sales from Allen Edmonds. | |||||||||||||||||||||||||||||||||
| SCHEDULE 5 | |||||||||||||||||||||||||||||||
| CALERES, INC. | |||||||||||||||||||||||||||||||
| SUMMARY FINANCIAL RESULTS BY SEGMENT | |||||||||||||||||||||||||||||||
| RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) | |||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||
| Famous Footwear | Brand Portfolio | Other | Consolidated | ||||||||||||||||||||||||||||
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks |
52 Weeks |
53 Weeks | ||||||||||||||||||||||||
| (Thousands) |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, |
February 2, |
February 3, | |||||||||||||||||||||||
| Gross profit | $ | 690,830 | $ | 724,434 | $ | 466,919 | $ | 444,164 | $ | (1,405 | ) | $ | 51 | $ | 1,156,344 | $ | 1,168,649 | ||||||||||||||
Charges/Other Items: | |||||||||||||||||||||||||||||||
| Integration and reorganization of men's brands | — | — | — | 4,939 | — | — | — | 4,939 | |||||||||||||||||||||||
| Blowfish Malibu acquisition and integration-related costs | — | — | 1,717 | — | — | — | 1,717 | — | |||||||||||||||||||||||
| Vionic acquisition and integration-related costs | — | — | 8,886 | — | — | — | 8,886 | — | |||||||||||||||||||||||
| Brand Portfolio - business exits | — | — | 1,769 | — | — | — | 1,769 | — | |||||||||||||||||||||||
| Total charges/other items | — | — | 12,372 | 4,939 | — | — | 12,372 | 4,939 | |||||||||||||||||||||||
| Adjusted gross profit | $ | 690,830 | $ | 724,434 | $ | 479,291 | $ | 449,103 | $ | (1,405 | ) | $ | 51 | $ | 1,168,716 | $ | 1,173,588 | ||||||||||||||
| Operating earnings (loss) | $ | 85,268 | $ | 92,230 | $ | (40,799 | ) | $ | 80,160 | $ | (44,068 | ) | $ | (44,707 | ) | $ | 401 | $ | 127,683 | ||||||||||||
Charges/Other Items: | |||||||||||||||||||||||||||||||
| Impairment of goodwill and intangible assets | — | — | 98,044 | — | — | — | 98,044 | — | |||||||||||||||||||||||
| Integration and reorganization of men's brands | — | — | 5,421 | 6,421 | 420 | 2,491 | 5,841 | 8,912 | |||||||||||||||||||||||
| Logistics transition | — | — | 4,488 | — | — | — | 4,488 | — | |||||||||||||||||||||||
| Blowfish Malibu acquisition and integration-related costs | — | — | 1,717 | — | 305 | — | 2,022 | — | |||||||||||||||||||||||
| Vionic acquisition and integration-related costs | — | — | 8,886 | — | 4,482 | — | 13,368 | — | |||||||||||||||||||||||
| Brand Portfolio - business exits | — | — | 2,395 | — | — | — | 2,395 | — | |||||||||||||||||||||||
| Retail operations restructuring | 392 | 564 | — | 155 | — | 223 | 392 | 942 | |||||||||||||||||||||||
| Total charges/other items | 392 | 564 | 120,951 | 6,576 | 5,207 | 2,714 | 126,550 | 9,854 | |||||||||||||||||||||||
| Adjusted operating earnings (loss) | 85,660 | 92,794 | 80,152 | 86,736 | (38,861 | ) | (41,993 | ) | 126,951 | 137,537 | |||||||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20190522005755/en/
Contacts:
Peggy Reilly Tharp, Caleres
(314)
854-4134, ptharp@caleres.com
