Caleres reports second quarter financial results

United States
Published:  26 August, 2022
Credit: Allen Edmonds

U.S.-based footwear company Caleres has reported its second quarter financial results for the 2022 fiscal year.

The company achieved net sales of US$738.3 million in the period, up 9.3% year-on-year, with gross profit of US$336.8 million and a gross margin of 45.6%.

Caleres reported a 3.8% sales decline for its Famous Footwear segment while the Brand Portfolio segment increased by 35.6%. Direct-to-consumer sales represented around 72% of total net sales during the quarter.

The company has reiterated its 2022 financial outlook, adjusting its expected consolidated sales levels to a growth of around 4-6% over 2021.

“During the second quarter, Caleres delivered another exceptional financial and operational performance with record second-quarter sales and earnings and strong gross profit margins – marking yet another period of outstanding results,” said Diane Sullivan, Chairman and CEO.

“In particular, Caleres utilised its growing and dynamic portfolio to capitalise on robust consumer demand in trending footwear categories, to support strong consolidated margin levels and to drive another excellent quarter of return on sales.”