Caleres ends year on a high note with strong Q4
Missouri-based footwear and accessories company Caleres capped a strong year on Tuesday thanks to high fourth quarter results including a sales increase of nearly 10 percent.
The company, which owns brands such as Diane von Furstenberg, Vince and Sam Edelman, as well as footwear retailer Famous Footwear, announced on Tuesday consolidated sales of $2,785.6 million for the full year ended February 3, up 8 percent compared to the same period last year.
By brand category, Brand Portfolio sales were up 16 percent hitting $1,148.0 million including contributions from Allen Edmonds, which was acquired in December of 2016. Meanwhile, Famous Footwear sales totalled $1,637.6 million, up 3 percent, while same-store-sales were up 1.4 percent.
Fourth quarter sales were particularly high following a lacklustre third quarter, which Caleres blamed on unseasonably warm weather in October and hurricanes in September.
Caleres' revenue for the quarter rose 9.8 percent to $702.5 million. Brand Portfolio sales climbed 13.8 percent to $309.4 million, while Famous Footwear sales rose 7 percent $393.1 million and same-store-sales 2.8 percent.
For the full year, adjusted net earnings reached $93.1 million, up 7.5 percent, while adjusted diluted earnings per share were $2.16, up 8 percent.
Gross profit came in at $1,168.6 million.
“Our success in 2017 is reflective of the foundational strength of our diversified portfolio of brands and is directly attributable to our ability to move to where the consumer is going,” said Diane Sullivan, CEO, president and chairman of Caleres, in a news statement.
“We expect to leverage our success in both of these areas in 2018 and to deliver adjusted earnings per share of between $2.40 and $2.50.”
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