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Caleres reports record Q1 trading, ups FY outlook

By Huw Hughes

May 25, 2022


Image: Caleres, Facebook

US footwear group Caleres has upped its full-year sales and earnings guidance after reporting record trading in the first quarter of the year.

In the three months to April 30, the group reported record net sales of 735.1 million dollars, up 15.1 percent from the prior year.

Sales in the group’s Brand Portfolio segment were up 46.1 percent, while sales in its Famous Footwear segment were down 3.4 percent.

The company also reported record first quarter earnings per diluted share of 1.32 dollars, up from 0.16 dollars a year earlier.

Caleres raises FY guidance

“Caleres had an outstanding start to the year, executing at a high level and delivering record first quarter sales, gross profit margins and earnings despite significant and ongoing macro-challenges,” said group chair and CEO Diane Sullivan.

She said the Famous segment “extended its exceptional performance from 2021”, while the Brand Portfolio segment “returned to nearly full strength”.

Sullivan said Caleres is “exceptionally well-positioned to capitalize on favorable market dynamics” despite “ongoing supply chain challenges and persistent macro-economic headwinds”.

Based on its strong Q1 performance, Caleres has upped its FY22 sales and earnings per share guidance.

It now expects consolidated sales to be between 2 percent and 5 percent higher than FY21 levels, and earnings per diluted share to be between 4.20 dollars and 4.40 dollars.