Caleres reports record Q3 sales $798.3M, tightens FY22 adjusted EPS to $4.30-$4.40

Caleres Reports Strong Results in Third Quarter 2022 ● Delivers record quarterly consolidated net sales of $798.3 million ● Improves inventory position with a 15.8 percent sequential decline from second quarter 2022 ● Returns $24.1 million to shareholders via share repurchases and dividends ● Tightens fiscal year 2022 adjusted earnings per share outlook at upper end of previous guidance range ​ ST. LOUIS, November 22, 2022 - Caleres (NYSE: CAL), a diverse portfolio of consumer-driven footwear brands, today reported financial results for the third quarter ended October 29, 2022. During the quarter, Caleres continued its strong performance, achieving record quarterly sales and delivering another period of solid earnings. Net sales rose 1.8 percent year-over-year driven by positive momentum in the Brand Portfolio segment reflecting robust consumer demand for its fashion brands and products. The company achieved net income of $39.2 million, or earnings per diluted share of $1.08.

Given the strong execution to date and expectations for the fourth quarter, Caleres is tightening its fiscal year 2022 earnings outlook at the upper end of its previous guidance range. Specifically, the company expects adjusted earnings per share to be in the range of $4.30 and $4.40, representing another year of record earnings for the organization. In addition, the company is reiterating its full year sales outlook, with the range still expected to be between 4 percent and 6 percent as compared to fiscal year 2021.