November 21, 2017
Net income plunged 90% to $4,037,000 from $38,963,000 for the third quarter ended Oct. 28 following an $82.7 million pre-tax impairment charge as sales rose 2% to $708,308,000 from $696,616,000 on a 0.4% comp store decline that was hampered by a slow start to the seasonal boot business as well as the recent hurricanes.
Caleres net income slipped 1% to $34,387,000 from $34,730,000 in the third quarter ended Oct. 28 as the top line expanded 6% to $774,656,000 from $732,230,000 despite $5 million in lost sales from the hurricanes in Sep. and another $30 million from an unseasonably warm start to fall.
The senior vice president of footwear and resident sneaker czar will be succeeded by Ryan Drew, who had been head of the basketball segment of Under Dog.
Omega Pacific is recalling about 1,900 G-FIRST series aluminum carabiners because they can break while in use.