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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
May 5,2018
April 29,2017
May 5,2018
April 29,2017
May 5,2018
April 29,2017
May 5,2018
April 29,2017
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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
May 5,2018
April 29,2017
May 5,2018
April 29,2017
May 5,2018
April 29,2017
May 5,2018
April 29,2017
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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
August 4,2018
July 29,2017
August 4,2018
July 29,2017
August 4,2018
July 29,2017
August 4,2018
July 29,2017
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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
August 4,2018
July 29,2017
August 4,2018
July 29,2017
August 4,2018
July 29,2017
August 4,2018
July 29,2017
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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
November 3,2018
October 28,2017
November 3,2018
October 28,2017
November 3,2018
October 28,2017
November 3,2018
October 28,2017
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 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
13 WeeksEnded
(Thousands)
November 3,2018
October 28,2017
November 3,2018
October 28,2017
November 3,2018
October 28,2017
November 3,2018
October 28,2017
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 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
(Thousands)
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
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 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
13 WeeksEnded
14 WeeksEnded
(Thousands)
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
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 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
(Thousands)
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
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 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
52 WeeksEnded
53 WeeksEnded
(Thousands)
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
February 2,2019
February 3,2018
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/
Investor and Media Contact:Peggy Reilly Tharp,
Caleres(314) 854-4134, ptharp@caleres.com
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