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Article Date: March 2023
Word Count: 456

Caleres Improves in Q4, but Famous is Flat

Net income posted a 21% gain to $40,808,000 to finish the year from $33,854,000 last year on sales that were up 3% to a quarterly record $696,434,000 from $679,280,000, but Famous Footwear sales inched up just 0.1% to $402.3 million as comps ticked up 0.7%. A high-single-digit sales decline in Nov. turned to a sharp mid-Dec. rebound, with the last 6 weeks of the quarter exceeding guidance and pushing quarterly results into the black. Key athletic brand demand drove the turnaround, able to be met with better in-stock inventory position compared ... Log in to view full article.


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