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Nov 01, 2025
Caleres Q3 2025 Earnings Report
Caleres reported Q3 2025 results with sales growth driven by the Brand Portfolio segment and contributions from the Stuart Weitzman acquisition, though net income was significantly lower year-over-year.
Key Takeaways
Caleres delivered revenue growth of 6.6% in Q3 2025, supported by strong performance in Brand Portfolio and eCommerce channels. However, net income declined sharply, impacted by acquisition-related expenses and margin pressure.
Revenue rose to $790.1 million, driven by a strong Brand Portfolio segment (+18.8%).
Net income dropped to $2.4 million from $41.4 million a year ago.
Gross margin declined to 41.8%, pressured by tariffs and acquisition dilution.
Adjusted EPS was $0.38, down from $1.23 last year; excluding Stuart Weitzman, it was $0.67.
Revenue by Segment
Forward Guidance
Caleres expects a loss in Q4 2025 and full-year GAAP EPS between -$0.18 and -$0.13, with adjusted EPS of $0.55 to $0.60. Stuart Weitzman will continue to dilute earnings.
Positive Outlook
- Stuart Weitzman integration expected to yield synergies in FY26
- Lead Brands posted double-digit growth
- eCommerce momentum remained strong
- Brand Portfolio now contributes over half of operating earnings
- Q3 sales exceeded internal expectations
Challenges Ahead
- Gross margin pressure from tariffs to persist
- Stuart Weitzman will continue to dilute earnings short-term
- SG&A expenses increased due to acquisition costs
- Q4 expected to result in a loss on both GAAP and adjusted basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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