Caleres news and archive

Caleres secures amended credit agreement ahead of Stuart Weitzman acquisition

US footwear company Caleres has secured an amendment of its existing credit agreement, extending its senior secured asset-based revolving credit facility to June 2030. The deal comes ahead of the company’s acquisition of fellow footwear label Stuart Weitzman, which it is intending to take off the hands of luxury giant Tapestry. Through the...

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Caleres to acquire Stuart Weitzman from Tapestry Inc. for $105 million

Tapestry, Inc., the parent company of several leading accessories and lifestyle brands, including Coach and Kate Spade New York, has announced the sale of its Stuart Weitzman brand to Caleres, a portfolio of consumer footwear brands, for 105 million dollars in cash today. Caleres stated that it aims to fund the acquisition through the company’s...

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Favorite Daughter to launch shoes with Caleres this autumn

Favorite Daughter, the contemporary lifestyle brand based in Los Angeles, is launching its first shoe collection under a new licensing agreement with Caleres. Launched in 2020 by sister duo Erin Foster and Sara Foster in partnership with Centric Brands, the digital-first brand offers collections featuring trend-led fashion, denim and closet...

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Brian Costello joins Famous Footwear as chief merchandising officer

Footwear retailer Caleres has appointed Brian Costello as chief merchandising officer of Famous Footwear. In this role, the company said in a release, he will oversee all buying and merchandising, including women’s, men’s and kids’ athletic and fashion footwear and accessories, for the brand’s US and Canada stores and e-commerce sites. “Brian...

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Caleres hires Nancy Bitetto as senior vice president of New York brands

Nancy Bitetto has joined Caleres as senior vice president of New York brands, which include Franco Sarto, Vince, Veronica Beard, and private brand offerings. In this role, the company said, Bitetto will focus on accelerating growth and expanding profitability within the Caleres brand portfolio. She will report directly to Jay Schmidt, president...

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Caleres lowers sales and earnings forecast

Caleres reported sales of 683.3 million dollars for the second quarter, down 1.8 percent. Caleres has lowered fiscal 2024 outlook of net sales to down low-single-digits percent versus previous guidance of flat to up 2 percent; and earnings per diluted share to 3.94 dollars to 4.09 dollars versus prior guidance of 4.30 dollars to 4.60 dollars and...

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Caleres reports marginal quarterly sales decline

Caleres net sales were 659.2 million dollars in the first quarter, down 0.5 percent. Famous Footwear segment net sales increased 0.1 percent, with comparable sales down 2.3 percent, brand portfolio segment net sales declined 2.6 percent, while direct-to-consumer sales represented approximately 69 percent of total net sales “Caleres began 2024 in...

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Caleres expects Q3 sales at low-end of guidance, announces 3-year growth plan

US footwear group Caleres said Friday it expects sales for the third quarter of the year to be at the lower end of its previously announced guidance. It expects Q3 sales to be down low-single digits compared to the prior year due to a “challenging consumer demand environment in September”. The company has reiterated its outlook for the full...

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Caleres appoints first-ever chief design and product officer

American footwear group Caleres, which includes Vince, Dr Scholl's, and Blowfish Malibu, has promoted Natelle Baddeley to chief design and product officer, effective immediately. In the newly created role, Baddeley will have creative oversight of the majority of the Caleres brand portfolio, including Naturalizer, Vionic, Dr Scholl's, Veronica...

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Caleres Q2 sales and profits fall, but reiterates FY23 outlook

Caleres has reported a drop in revenue and profit in the second quarter of the year, but has reiterated its full-year outlook. The US footwear group generated net sales of 695.5 million dollars in the three months to July 29, down 5.8 percent from the prior year. It had expected a drop of between 4 percent and 5 percent. Sales at the group’s...

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Caleres lowers FY revenue outlook, announces cost-cutting drive

US footwear group Caleres has lowered its full-year revenue outlook and announced new cost-cutting measures after reporting a drop in sales and profit in the first quarter. The company reported a 9.8 percent drop in net sales to 662.7 million dollars in the three months to April 29, with Famous Footwear segment sales down 9.2 percent, and Brand...

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Caleres enjoys ‘record-setting’ year following bumper Q4 sales

US footwear group Caleres has reported record sales in both its Q4 and full-year results. The company made net sales of 696.4 million dollars in the quarter ended January 28, up 2.5 percent from the 679.3 million dollars it made a year earlier. Breaking it down by segment, Famous Footwear segment sales increased 0.1 percent, while Brand...