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Caleres (CAL) investor relations material

Caleres Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary9 Dec, 2025

Executive summary

  • Consolidated sales rose 6.6% year-over-year to $790.1 million, driven by Brand Portfolio growth and the Stuart Weitzman acquisition, while Famous Footwear sales declined 2.2%.

  • Lead brands achieved double-digit organic growth, with international sales up over 30% and eCommerce sales rising double digits across both segments.

  • Stuart Weitzman contributed $45.8 million in Q3 sales; integration is underway with a focus on cost synergies and break-even targeted for 2026.

  • Direct-to-consumer sales accounted for 71% of Q3 net sales.

  • GAAP EPS dropped to $0.07 from $1.19; adjusted EPS was $0.38, or $0.67 excluding Stuart Weitzman.

Financial highlights

  • Q3 net sales: $790.1 million, up 6.6% year-over-year; Brand Portfolio up 18.8%, Famous Footwear down 2.2%.

  • Gross profit: $329.9 million; gross margin 41.8%, down 230 bps; adjusted gross margin 42.7%, down 140 bps.

  • Adjusted operating earnings: $26.3 million (3.3% of sales); adjusted EPS $0.38, or $0.67 excluding Stuart Weitzman.

  • Inventory at $678 million, up $92 million year-over-year, with $77 million from Stuart Weitzman.

  • Borrowings under revolving credit facility: $355 million; liquidity: $312 million.

Outlook and guidance

  • Q4: Famous Footwear comp sales expected flat, total sales down low single digits; Brand Portfolio sales expected flat to up 1% organically, with Stuart Weitzman to add $55–$60 million.

  • Full-year adjusted EPS guidance: $0.55–$0.60 including Stuart Weitzman, $1.15–$1.25 excluding; full-year GAAP loss per share of $(0.13) to $(0.18).

  • Stuart Weitzman expected to be dilutive in 2025, with break-even targeted for 2026.

  • Consolidated gross margin expected down 75–100 bps; full-year tax rate projected at 27% to 28%.

  • Expense reduction initiatives projected to lower SG&A by $15 million annually.

SW aged inventory: How is it being cleared?
Famous Footwear: How to improve women's fashion?
How will tariffs impact 2026 operating margin?
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Frequently asked questions

Caleres, Inc. engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through three segments: Retail; Wholesale; and International. The company offers school and uniform athletic shoes, casual athletic shoes, and specialty footwear under various brands. It also provides footwear to schools and educational institutions; and sells its products through mass merchandisers and independent shoe retailers.

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