Caleres Reports Q2 Earnings with Strong Brand Portfolio Growth
Caleres (CAL) reported second-quarter results for fiscal year 2026 showing strong growth in its brand portfolio, which offset declining sales at Famous Footwear. Net sales reached $695.5 million, up 5.6%, driven by the integration of Stuart Weitzman and organic growth across key brands like Sam Edelman and Allen Edmonds. The company's adjusted diluted earnings per share (EPS) rose to $0.47 from $0.35 in the prior year period. Consolidated adjusted gross margin improved significantly, increasing 340 basis points due to favorable product mix. However, Famous Footwear sales declined by 6.3%, primarily due to softness in lifestyle athletic categories and increased promotional activity. Looking ahead, Caleres raised its fiscal year 2026 adjusted EPS guidance to $1.50–$1.65 from a previous range of $1.40–$1.65. The company also plans store network changes, including opening 13 new stores and closing 26 others during the year.
Tickers: $CAL
Topics: brand_performance retail sales_growth