Third quarter (Q3) sales at Caleres, an operator of a portfolio of consumer-centric footwear brands, has reported a 21.1 per cent sales increase to $784.2 million over the sales of $647.5 million in the corresponding period of previous fiscal. The company’s net earnings for the three-month period recorded a four-fold jump to $59.7 million (Q3 FY20: $14.9 million).

 

Third quarter (Q3) sales at Caleres, an operator of a portfolio of consumer-centric footwear brands, has reported a 21.1 per cent sales increase to $784.2 million over the sales of $647.5 million in the corresponding period of previous fiscal. The company's net earnings for the three-month period recorded a four-fold jump to $59.7 million ($14.9 million).#

“Caleres achieved another record performance in the quarter just ended, driven principally by continued, exceptional upward momentum in our Famous Footwear business,” Diane Sullivan, chairman and chief executive officer at Caleres, said in a press release. “As robust consumer demand dynamics continue to accelerate, we fully expect the ongoing recovery in the Brand Portfolio to be an increasingly strong complement to the ongoing success at Famous Footwear in the quarters ahead.”

 

Third quarter (Q3) sales at Caleres, an operator of a portfolio of consumer-centric footwear brands, has reported a 21.1 per cent sales increase to $784.2 million over the sales of $647.5 million in the corresponding period of previous fiscal. The company's net earnings for the three-month period recorded a four-fold jump to $59.7 million ($14.9 million).#

During the quarter ended on October 31, 2021, sales from Famous Footwear segment surged 26.3 per cent to $494.6, while Brand Portfolio segment’s sales went up 12.3 per cent to $300.5. The American footwear company’s direct-to-consumer sales for Q3 expanded 73.5 per cent over the same quarter of 2020.

 

Third quarter (Q3) sales at Caleres, an operator of a portfolio of consumer-centric footwear brands, has reported a 21.1 per cent sales increase to $784.2 million over the sales of $647.5 million in the corresponding period of previous fiscal. The company's net earnings for the three-month period recorded a four-fold jump to $59.7 million ($14.9 million).#

Gross profit advanced to $335.3 million ($256.9 million), whereas the company’s operating loss for the quarter narrowed to $5.0 million ($10.9 million).

 

Third quarter (Q3) sales at Caleres, an operator of a portfolio of consumer-centric footwear brands, has reported a 21.1 per cent sales increase to $784.2 million over the sales of $647.5 million in the corresponding period of previous fiscal. The company's net earnings for the three-month period recorded a four-fold jump to $59.7 million ($14.9 million).#

“As we progress through the remainder of the year and head into 2022, we expect supply chain challenges to persist,” Sullivan said in the outlook. “However, our global Associates have taken quick action – leaning into our capabilities; optimising our inventory position; and diversifying and leveraging our sourcing model to help offset the impacts caused by the ongoing disruptions. We believe we are well-positioned to navigate this dynamic market environment and we are confident in our ability to utilize our diversified brand model, achieve our short and long-term strategic objectives, and continue to create value for our shareholders.”