Exhibit 99.1
News

 
Investor and Media Contact
 
Peggy Reilly Tharp, Caleres
 
ptharp@caleres.com


Caleres Reports First Quarter 2019 Results

ST. LOUIS, June 3, 2019 - Caleres (NYSE: CAL, caleres.com), a diverse portfolio of global footwear brands, today reported first quarter 2019 financial results.

“Despite a soft marketplace, Brand Portfolio performed extremely well and continued to grow - with sales up more than 20% year-over-year - and to take share. Once again, we owned six of the top 25 women’s fashion footwear brands and grew sales ahead of market rate while gaining share,” said Diane Sullivan, CEO, president and chairman of Caleres. “At Famous Footwear, while the quarter ended on an encouraging note - with positive same-store-sales for both March and April - the slow start in February was tough to overcome. Going forward, we expect to see softness at Famous Footwear through at least the second quarter, as we continue to prepare for back-to-school by aggressively clearing underperforming inventory. While new additions to our elevated and refreshed product assortment are gaining traction, we expect to see more evidence of this during back-to-school, as we’ve previously discussed.

“Rather than maintaining the mid-point of our adjusted EPS guidance range at a 13% growth rate, we are prudently bringing the mid-point for earnings growth down to 9%,” continued Sullivan. “While we still expect to see year-over-year gains, we believe this new rate more accurately reflects industry challenges to date and gradual improvement over the balance of the year.”

First Quarter 2019 Results Versus 2018
Consolidated sales of $677.8 million, up 7.2%.
Brand Portfolio sales of $341.1 million were up 20.3%.
Famous Footwear total sales were $352.2 million, while same-store-sales were down 1.0%.
Gross profit was $279.8 million, up 1.8%, while gross margin was 41.3% and adjusted gross margin was 42.3% and excluded $7.2 million related to Vionic inventory adjustment amortization and for Brand Portfolio business exit expense.
SG&A expense of $262.1 million represented 38.7% of sales, an improvement of more than 90 basis points.
Operating earnings of $16.9 million and adjusted operating earnings of $24.9 million.
Net earnings were $9.1 million, resulting in earnings per diluted share of $0.22.
Adjusted net earnings were $15.0 million, while adjusted earnings per diluted share were $0.36.

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The following information was filed by Caleres Inc (CAL) on Monday, June 3, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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