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Article Date: May 2021
Word Count: 510

Famous Footwear Recovers but Caleres’ Brands Lag


The bottom line swung back to income of $6,147,000 from the prior year’s $345,838,000 bloodbath that included $262,719,000 of goodwill impairment, on revenues that were up 61% to $638,636,000 from $397,184,000, but are still down 6% vs. 2019. Famous Footwear sales were up 95% to a quarterly record $398.1 million, improving 13% over ’19, driving operating earnings to a record $47.9 million, up 28% from ’19, helped by lower promotional activity. E-commerce continued to perform as stores reopened, with online sales up nearly 100% over ’19, hitting 16% penetration compared to 9% in ’19. The new FF e-commerce platform resulted ... Log in to view full article.

 


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