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Article Date: September 2024
Word Count: 474

Caleres Cuts Guidance as Back-to-School Starts Slowly


Profits dropped 13% to $29,958,000 from $34,365,000 on 2% lower sales of $683,317,000 down from $695,533,000 for the second quarter as a botched ERP upgrade impacted Brand Portfolio results and Back-to-School got a late start at Famous Footwear. Famous sales improved 2% to $420.3 million, comping down 2.9%, with sequential improvement through the quarter. E-commerce posted 10% growth. Kids’ outpaced all other segments for the 14th consecutive quarter, while athletic demand started to ramp up in July in the early weeks of BTS. The updated “Flair” concept stores stood at 31 ... Log in to view full article.

 


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