NEW YORK - Footwear retailer Caleres (NYSE:CAL) saw its shares fall 5% in premarket on Thursday after reporting fourth quarter earnings and revenue that fell short of analyst expectations.
The company, which owns brands like Famous Footwear and Sam Edelman, posted adjusted earnings per share of $0.33 for the quarter, missing the consensus estimate of $0.40. Revenue came in at $639.2 million, below analysts’ projections of $651.24 million.
Caleres reported that net sales decreased 8.3% YoY to $639.2 million in Q4. The company’s Famous Footwear segment saw net sales decline 9.6%, with comparable sales down 2.9%. Brand Portfolio segment sales decreased 7.2%.
"Our fourth quarter earnings were at the high end of our most recent guidance. We gained market share in women’s fashion footwear, our Lead Brands outperformed, and we grew our sneaker penetration," said Jay Schmidt, President and CEO of Caleres.
For fiscal 2025, Caleres expects consolidated net sales to be down 1% to up 1% compared to fiscal 2024. The company projects earnings per diluted share of $2.80 to $3.20 for the full year.
Schmidt added, "While 2024 overall was disappointing relative to our initial expectations, we made meaningful progress in advancing our strategic priorities and positioning our brands for sustainable growth."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.