Solid performance for Caleres in third quarter

United States
Published:  29 November, 2022
Credit: Allen Edmonds

U.S.-based footwear company Caleres has reported its third quarter financial results for the 2022 fiscal period, with consolidated net sales of US$798.3 million.

Net sales were up by 1.8% year-on-year for the company, which it put down to positive momentum in its Brand Portfolio segment and robust customer demand.

There was a 2.6% decline in sales for Caleres’ Famous Footwear segment, with comparable store sales down 0.8%, while the Brand Portfolio segment was up by 7.6%.

Gross profit for the third quarter came in at US$339.9 million, with a gross margin of 42.6%, and the adjusted net income result totalled US$42 million.

Looking forward to the full 2022 fiscal year, Chairman and CEO Diane Sullivan said: “Looking ahead, we are confident that Caleres is well-positioned to close 2022 with record-setting earnings.

“We believe our curated family of brands, powerful platform and robust capabilities in the areas of brand building, production creation, marketing and logistics will enable us to navigate any market environment.”