By Emon Reiser
Caleres said it is taking a conservative view of the year ahead amid persistent inflation and newer tariffs after reporting declines in fourth-quarter sales and profit.
The St. Louis-based footwear company reported net income of $4.9 million, or 15 cents a share, for the quarter ended Feb. 1, down from $55.8 million, or 1.57 cents a share, a year earlier.
Stripping out one-time items, adjusted earnings per share came in at 33 cents, above the 25 cents a share expected by analysts polled by FactSet.
Quarterly sales fell to $639.2 million and came below analyst estimates of $646 million. The company reported $697.1 million in sales in the year-ago quarter.
Caleres guided for full-year net sales ranging down 1% to up 1%. Earnings per share for the year is expected to be between $2.80 and $3.20.
For the first quarter, Caleres guided for earnings per share between 35 cents and 40 cents.
Chief Executive Jay Schmidt said the company's Famous Footwear business softened during the quarter, while its lead brands outperformed. The company gained market share in women's fashion footwear, he said.
Caleres sources much of its footwear from China, a target of President Trump's recent tariff actions.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
March 20, 2025 07:15 ET (11:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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