Caleres (CAL) Q4 2026 earnings summary

Executive summary

• Fourth quarter and FY25 results exceeded guidance, driven by strong e-commerce and international growth, with lead brands and Brand Portfolio outperforming and gaining market share in women's fashion and total footwear.

• Stuart Weitzman integration and acquisition were completed on time and on budget, with operational improvements and inventory liquidation.

• Famous Footwear delivered positive comps during the holiday period, with e-commerce up double digits for the third straight quarter.

• 2026 is positioned as a build-back year with modest organic sales growth and meaningful earnings recovery.

• Gained 0.3%–0.34% market share in total footwear and 0.85% in women's fashion footwear.

Financial highlights

• Q4 sales were $695.1M, up 8.7% year-over-year; Brand Portfolio sales up 20.3%, Famous Footwear sales down 1.2%.

• Q4 consolidated gross margin was 42.9%, down 10 bps; Brand Portfolio gross margin was 41.6%; Famous Footwear gross margin 42.5%.

• Q4 operating loss was $11.6M; excluding Stuart Weitzman, operating earnings were $0.5M.

• Q4 EPS was a loss of $0.36; excluding Stuart Weitzman, loss was $0.06.

• FY25 net sales were $2.8B, up 1.3% year-over-year; adjusted EPS $0.61 (including Stuart Weitzman), $1.19 (excluding Stuart Weitzman).

Outlook and guidance

• FY26 consolidated sales expected up low- to mid-single digits; Famous Footwear sales flat to down low single digits; Brand Portfolio up low double digits.

• Gross margin projected to rise 140–180 bps, mainly from Brand Portfolio improvements and tariff mitigation.

• SG&A rate to remain relatively flat; interest expense around $18M; tax rate 28%–30%.

• GAAP EPS guidance for FY26 is $1.31–$1.61; adjusted EPS $1.35–$1.65.

• CapEx planned at $55–$60M, subject to macroeconomic conditions.