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Article Date: June 2023
Word Count: 464

Famous Footwear Comps Down in Q1, but Expects BTS Improvement

Caleres' net income dipped 31% to $34,792,000 in the first quarter from $50,509,000 on sales that were down 10% to $662,734,000 from $735,116,000, including Famous Footwear sales that were off 9% to $349.2 million, with comps down 8.5% on soft consumer demand. While picking up market share amongst shoe chains in the quarter, softening consumer demand and a late start to the sandal season sunk the top line, particularly in Mar. Kids’ was the one bright spot among categories, outpacing the rest of the business with consumers prioritizing children’s footwear as ... Log in to view full article.


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