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Article Date: March 2018
Word Count: 451

Famous Footwear Swings to Profit in Q4

Caleres net income was $20,316,000 in the fourth quarter ended Feb. 3 against a loss of $6,622,000 last year impacted by acquisition, restructuring and other charges that did not recur, on sales that were 10% higher at $702,465,000 vs. $639,488,000. Famous sales increased 7% to $393,085,000 from $367,530,000, benefitting from $19.7 million from the extra week this year, driving operating income up fivefold to $13,093,000 from $2,668,000. Same store sales increased 2.8% excluding the 14th week. Gross margin expanded 60 basis points to 44.6%. Famous e-commerce sales increased 14% and now represents 10% of total sales. Year-end inventory was down ... Log in to view full article.


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