Caleres Reports Second Quarter 2026 Results

ST. LOUIS--(BUSINESS WIRE)--Sep 9, 2026--

Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for the second quarter 2026.

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“We are pleased with our second quarter performance. In our Brand Portfolio, we experienced broad-based gains across brands, channels, and geographies and we gained market share in Women’s Fashion Footwear, according to Circana,” said Jay Schmidt, president and chief executive officer. “At Famous Footwear, results were below our expectations, as a later Back-to-School season and softness in lifestyle athletic pressured sales and margins. Quarter to date through Labor Day, Famous Footwear comparable store sales are flat."

“Despite the shift in Back-to-School, Caleres delivered strong profit improvement and earnings ahead of our guidance. Fashion footwear is clearly seeing breakout momentum – and Caleres’ brands are resonating with consumers. Within Famous Footwear, we are pivoting to quickly align our assortment with changing consumer demand, emphasizing fashion, which continues to meaningfully outperform lifestyle athletic products quarter to date.”

“We’re operating in an environment that remains dynamic, but our focus is clear. We will capitalize on the strength in our Brand Portfolio, improve performance at Famous Footwear, and continue rebuilding earnings power.”

Second Quarter 2026 Results

(13 weeks ended August 1, 2026, compared to 13 weeks ended August 2, 2025)

Third Quarter & Full Year Outlook

For third quarter 2026, we expect consolidated net sales to increase low-single digits versus last year. Brand Portfolio sales are anticipated to increase in the mid-high-single digit percent range. Famous Footwear sales and comparable sales are expected to be down low-single digits. Gross margin is expected to improve 150 to 200 basis points, reflecting tariff mitigation efforts and lower current tariff rates. We anticipate a third quarter tax rate of 23% to 25%. We expect GAAP earnings per diluted share of $0.62 to $0.70.

For full-year 2026, we anticipate total sales to increase low-to-mid-single digits. Brand Portfolio sales are expected to be up low-double digits. Famous Footwear sales and comparable sales are expected to be down low-to-mid-single digits. Consolidated gross margin is expected to improve 180 to 220 basis points. We anticipate interest expense of approximately $16 to $17 million, a full-year tax rate of 24% to 26%, and capital expenditures of $50 to $55 million. We expect GAAP earnings per diluted share of $2.80 to $2.95, and adjusted earnings per diluted share of $1.50 to $1.65.

Investor Conference Call

Caleres will host a conference call at 10:00 a.m. ET today, September 9, 2026 . The webcast and associated slides will be available at investor.caleres.com/events-and-presentations. A live conference call will be available at (877) 704-4453 for North America participants or (201) 389-0920 for international participants; no passcode necessary. A replay will also be available at investor.caleres.com/events-and-presentations for a limited period. Investors can access the replay through September 23, 2026, by dialing (844) 512-2921 in North America or (412) 317-6671 internationally and using the pin 13761988.

About Caleres

Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Stuart Weitzman, Allen Edmonds, Naturalizer and Vionic. Our products are available virtually everywhere — in the ~1,000 retail stores we operate, in hundreds of major department and specialty stores, on our branded e-Commerce sites, and on many additional third-party retail websites. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is nearly 150 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great… feet first. Visit caleres.com to learn more about us.

Definitions

All references in this press release, outside of the condensed consolidated financial statements that follow, unless otherwise noted, related to net earnings attributable to Caleres, Inc. and diluted earnings per common share attributable to Caleres, Inc. shareholders, are presented as net earnings and earnings per diluted share, respectively.

Non-GAAP Financial Measures

In this press release, the company’s financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures. In particular, the company provides estimated and future gross profit, operating earnings (loss), net earnings and earnings per diluted share, adjusted to exclude certain gains, charges and tariff refund recoveries and the financial results of the acquired Stuart Weitzman business, which are non-GAAP financial measures. These results are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help identify underlying trends in the company’s business and provide useful information to both management and investors by excluding certain items that may not be indicative of the company’s core operating results. These measures should not be considered a substitute for or superior to GAAP results.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking statements and expectations regarding the company’s future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changes in United States and international trade policies, including tariffs and trade restrictions; (ii) changing consumer demands, which may be influenced by general economic conditions and other factors; (iii) inflationary pressures and supply chain disruptions; (iv) rapidly changing consumer preferences and purchasing patterns and fashion trends; (v) supplier concentration, customer concentration and increased consolidation in the retail industry; (vi) intense competition within the footwear industry; (vii) foreign currency fluctuations; (viii) political and economic conditions or other threats to the continued and uninterrupted flow of inventory from China and other countries, where the company relies heavily on third-party manufacturing facilities for a significant amount of its inventory; (ix) transitional challenges with acquisitions and divestitures; (x) cybersecurity threats or other major disruption to the company’s information technology; (xi) the ability to accurately forecast sales and manage inventory levels; (xii) a disruption in the company’s distribution centers; (xiii) the ability to recruit and retain senior management and other key associates; (xiv) the ability to secure/exit leases on favorable terms; (xv) changes to tax laws, policies and treaties; (xvi) our commitments and shareholder expectations related to responsible business initiatives; (xvii) compliance with applicable laws and standards with respect to labor, trade and product safety issues; and (xviii) the ability to attract, retain, and maintain good relationships with licensors and protect our intellectual property rights.

The company's reports to the Securities and Exchange Commission contain detailed information relating to such factors, including, without limitation, the information under the caption Risk Factors in Item 1A of the company’s Annual Report on Form 10-K for the year ended January 31, 2026, which information is incorporated by reference herein and updated by the company’s Quarterly Reports on Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change.

 

Sam Edelman Alie Ballet Flats

ABU SNAN, Israel (AP) — John Malkovich has canceled a planned performance in Israel after promoters circulated a quote attributed to the American actor that he said was completely false. The producer of the show acknowledged the mistake, citing “human error.”

Israel has faced growing cultural isolation in recent years over the war in Gaza, settler violence and its military occupation of the West Bank. A number of international artists have refused to perform in Israel, and the Israel Festival, an annual cultural event, went ahead without a single international act this year.

Malkovich was slated to perform “The Music Critic,” a touring comedy featuring classical music and criticism of world-famous composers, in Tel Aviv in April.

A recent press release quoted Malkovich as saying: “I am thrilled to return to Israel and am looking forward to meeting the warm Israeli audience once again, to whom I feel a strong closeness and solidarity.” The quote appeared in some Israeli and U.S. media outlets.

Malkovich told The Hollywood Reporter that he “never made the statements that were quoted, nor was I consulted before they were printed.”

“I did not utter these phrases, and they most certainly are not approved by me, nor do they reflect my feelings,” he said. “For this reason, I have decided I cannot participate in the Tel Aviv performance.”

Representatives for Malkovich did not immediately respond to a request for comment.

Alon Yurik, the Israeli producer of the show, said in a statement that the quote was wrongly attributed to Malkovich because of “human error.” He said the production contacted media outlets to remove the quote and correct the reports, and that it had issued an apology.

“I regret that the incident developed to the point of the performance being canceled,” Yurik said.

Malkovich has performed in Israel before. He has said that performing in a country does not mean he agrees with its political leaders or their policies.

Malkovich is a two-time Academy Award nominee whose film credits include “Dangerous Liaisons,” “In the Line of Fire” and “Con Air.”

He played a fictionalized version of himself in “Being John Malkovich” in 1999, in which a struggling puppeteer, played by John Cusack, discovered a portal into the actor's head.

Malkovich stars alongside Sam Rockwell in this year's “Wild Horse Nine,” a film centered on the CIA's role in the 1973 military coup in Chile.

FILE - John Malkovich poses for photographers at the red carpet for the film 'Wild Horse Nine' during the 83rd edition of the Venice Film Festival in Venice, Italy, on Thursday, Sept. 3, 2026. (Photo by Alessandra Tarantino/Invision/AP, File)