Gross profit in the second quarter totalled US$305.9 million, up 4.4%, representing gross margin of 40.7% and net earnings were US$25.3 million, resulting in earnings per diluted share of US$0.61, up 10.9% in the period. “During the quarter we successfully executed on our strategies to strengthen the emotional connections we have with our consumers. Our deep insights, combined with our industry-leading footwear capabilities, allowed us to deliver relevant product, supporting growth in the Brand Portfolio and positive same-store-sales growth at Famous Footwear,” said Diane Sullivan, CEO, President and Chairman, Caleres.
For the first half of 2019, the Group’s consolidated sales amounted to US$1,430.2 million, up 6.8% and gross profit totalled US$585.8 million, up 3.1%, representing gross margin of 41%. Operating earnings were US$54.7 million, down 0.8%, representing operating margin of 3.8%, while net earnings amounted to US$34.4 million, resulting in earnings per diluted share of US$0.82, down 12.8%.