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Feb 01, 2025
Caleres Q4 2024 Earnings Report
Caleres reported its Q4 2024 earnings, reflecting a decline in net sales but achieving adjusted earnings at the high end of guidance.
Key Takeaways
In Q4 2024, Caleres reported net sales of $639.2 million, down 8.3% year-over-year. Adjusted earnings per diluted share were $0.33, with gross profit at $275.1 million and gross margin of 43%. The Famous Footwear segment saw declines while the Brand Portfolio maintained solid performance. Despite challenges, the company remains optimistic with strategic plans for 2025.
Q4 net sales totaled $639.2 million, a decline of 8.3% year-over-year.
Gross margin came in at 43.0%, down 80 basis points compared to Q4 2023.
Adjusted EPS reached $0.33, aligning with the high end of guidance.
Net income was $4.9 million, significantly down from $55.8 million in the prior year quarter.
Revenue by Segment
Forward Guidance
For fiscal 2025, Caleres expects net sales to range from down 1% to up 1% versus fiscal 2024, with GAAP EPS between $2.80 and $3.20, and operating margins between 5.1% and 5.6%.
Positive Outlook
- GAAP EPS guidance of $2.80 to $3.20.
- Operating margin expected between 5.1% and 5.6%.
- 75% of Brand Portfolio sourcing expected to be outside China by H2 2025.
- Continued investment in strategic brand partnerships.
- Strong market share gains in women's fashion footwear.
Challenges Ahead
- Persistent inflationary pressures affecting consumer spending.
- Impact from additional tariffs likely to weigh on margins.
- Softness in Famous Footwear business anticipated to continue.
- Expense deleverage from sales decline in Q4 may continue into early 2025.
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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