- Prachi Singh |
Caleres, for its third quarter reported consolidated sales of 775.8 million dollars compared to 774.6 million dollars. The company said Famous Footwear same-store-sales were up 2.8 percent but total sales of 448.8 million dollars, down 5.1 percent as one week of back-to-school sales shifted into the second quarter of this year versus the third quarter of last year. The company’s brand portfolio sales of 327.1 million dollars were up 8.5 percent, including Vionic. Adjusted net earnings of 34.9 million dollars were up 1.6 percent, while adjusted diluted net earnings per share of 0.81 cents were up 1.3 percent.
“Famous Footwear delivered its seventh consecutive year of positive back-to-school same-store-sales, while Brand Portfolio showed sales improvement of 8.5 percent, as our top brands continued to take consumer share in the market,” said Diane Sullivan, CEO, President and Chairman of Caleres in a statement, adding, “We now expect to report fiscal 2018 adjusted earnings per share of between 2.25 dollars and 2.35 dollars, and this range includes approximately 0.05 cents of dilution related to Vionic interest and amortization expense.
Highlights of Caleres Q3 and nine month results
Gross profit for the quarter was 310.6 million dollars, while gross margin was 40 percent and adjusted gross margin was 40.3 percent. Operating earnings were 39.7 million dollars, while adjusted operating earnings were 46.9 million dollars. Net earnings were 29.2 million dollars, while diluted earnings per share were 0.67 cents and included 0.14 cents for charges related to the acquisitions of Allen Edmonds, Blowfish Malibu and Vionic.
For the first nine months of 2018, Caleres reported consolidated sales of 2,114.6 million dollars. Famous Footwear same-store-sales were up 1.7 percent, while total sales were 1,241.6 million dollars. Brand portfolio sales of 872.9 million dollars were up 4.1 percent.
Gross profit for the period was 878.6 million dollars, while gross margin was 41.6 percent and adjusted gross margin was 41.7 percent. Operating earnings were 94.8 million dollars and included 11.6 million dollars of charges related to the acquisitions of Allen Edmonds, Blowfish Malibu and Vionic. Net earnings were 70 million dollars, while diluted earnings per share were 1.62 dollars and included 0.21 cents for charges related to the acquisitions of Allen Edmonds, Blowfish Malibu and Vionic. Adjusted net earnings of 79.1 million dollars were up 9.1 percent, while adjusted diluted net earnings per share of 1.83 dollars were up 8.9 percent.