Caleres’ net income slipped 4% in the third quarter ended Nov. 2 to $27,987,000 from $29,153,000 on 2% higher sales of $792,375,000 up from $775,829,000 helped by a 5% improvement from the Brand Portfolio while Famous Footwear was slightly down. Consolidated gross margin was up 40 basis points to 40.4% while SG&A was $10 million higher, or 50 b.p. as a percent of sales, with fewer stores at Famous more than offset by additional spending on Vionic. The third quarter this year included $969,000 in restructuring and other special charges against $5,340,000 in Q3 ’18. Consolidated inventory at period end ... Log in to view full article.