Overview
- Caleres reported first-quarter fiscal 2026 net sales of $666.6 million, up 8.5% year over year, and net earnings of $14.3 million, or $0.42 per diluted share, beating the company’s guidance.
- The brand portfolio drove the quarter with a 20.6% sales gain and a 5.8% increase excluding Stuart Weitzman, while Famous Footwear sales fell 2.5% and comparable sales dropped 2.3%.
- For the second quarter the company foresees consolidated sales rising in the mid-to-high-single digits, brand sales growing in the mid-20s percent range, Famous Footwear declining in the mid-single digits, and EPS of $0.32 to $0.38.
- Caleres attributes margin improvement to favorable product mix, tariff-mitigation actions and disciplined execution and is pursuing e-commerce growth, an 'elevate-and-edit' merchandising strategy and expanded Flair stores to lift Famous Footwear.
- The quarter positions Caleres for modest full-year sales growth and meaningful earnings recovery if Stuart Weitzman margins improve and Famous Footwear traffic trends reverse, making those two areas the key markers to watch.