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Article Date: March 2021
Word Count: 562

Famous Footwear Post Sequential Gain in Q4, but Caleres Has Big Loss

Net loss hit $77,079,000 for the fourth quarter against last year’s barely breakeven $9,000 profit on revenues that fell 18% to $570,959,000 from $698,948,000. The bottom line was hit by $23.8 million in impairment charges and $31.0 million in restructuring charges related to the Brand Portfolio’s Covid-19 expenses and business exits. Direct-to-consumer represented 75% of total sales in the quarter, and total company owned e-commerce website sales were up 25%, with 30% e-commerce penetration. Gross margin for the quarter decreased 30 b.p. to 39.5%, while SG&A was down 13% to $225,559,000 from $278,810,000, expanding as a percentage of sales by ... Log in to view full article.


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