Caleres Inc (NYSE:CAL) reported better-than-expected Q2 EPS and sales results.
The company, based in St. Louis, reported consolidated sales of $752.5 million, up 6.5%, with Brand Portfolio sales of $359.6 million, up 17.9%.
Famous Footwear total sales of $419.8 million, with same-store-sales up 1.5%.
Gross profit was $305.9 million, up 4.4%, representing gross margin of 40.7%. Operating earnings were $37.8 million, up 17.6%, representing operating margin of 5.0%.
Adjusted operating earnings were $38.4 million, up 10.4%, representing adjusted operating margin of 5.1%. Net earnings were $25.3 million, resulting in earnings per diluted share of $0.61, up 10.9%.
Says the company website, "Caleres is the home of today’s most coveted footwear brands and represents a diverse portfolio spanning all of life’s styles and experiences.
"Our collections have been developed and acquired to meet the evolving needs of today’s assorted and growing global audiences, with consumer insights driving every aspect of the innovation, design, and craft that go into our distinctly positioned brands, including Famous Footwear, Sam Edelman, Naturalizer, Allen Edmonds, Vionic, Dr. Scholl’s Shoes, Franco Sarto, and more."
CEO Diane Sullivan said, "During the quarter, we successfully executed on our strategies to strengthen the emotional connections we have with our consumers. 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."
Shares gained $4.02, or 26.4%, to $19.26
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