Caleres posts 10.9 percent rise in Q2 earnings

For the second quarter, Caleres delivered net earnings of 25.3 million dollars with earnings per diluted share of 61 cents, up 10.9 percent, while adjusted net earnings reached 25.8 million dollars, resulting in adjusted earnings per diluted share of 62 cents, up 5.1 percent. Sales of 752.5 million dollars, increased 6.5 percent year-over-year. Brand Portfolio sales of 359.6 million dollars, were up 17.9 percent, while total sales at Famous Footwear were 419.8 million dollars, with same-store-sales up 1.5 percent. The company’s gross profit of 305.9 million dollars, rose 4.4 percent, representing gross margin of 40.7 percent.

“Our deep insights, combined with our industry-leading footwear capabilities, allowed us to deliver relevant product, supporting growth in the Brand Portfolio and positive same-store-sales growth at Famous Footwear,” said Diane Sullivan, CEO, President and Chairman of Caleres in a statement, adding, “A continued focus on expense discipline improved profitability for the quarter.”

For its first half, Caleres posted consolidated sales of 1,430.2 million dollars, up 6.8 percent. Brand Portfolio sales of 700.6 million dollars, rose 19 percent, while Famous Footwear total sales reached 772 million dollars, with same-store-sales up 0.4 percent. Gross profit for the period of 585.8 million dollars, increased 3.1 percent, representing gross margin of 41 percent. Net earnings of 34.4 million dollars, resulted in earnings per diluted share of 82 cents, down 12.8 percent, while adjusted net earnings of 40.8 million dollars, resulted in adjusted earnings per diluted share of 98 cents, down 3.9 percent.

Picture:Facebook/Famous Footwear

 

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