Caleres reports small growth in Q4 and full year 2015

By

Obi Anyanwu

Published
Mar 17, 2016

Caleres on Tuesday announced its fourth quarter and full year results for fiscal 2015.

 
The company reported a small net sales increase of 0.4% to $608.7 million excluding sales from Shoes.com. Famous Footwear fourth quarter same store sales increased 0.8% and sales for the brand portfolio was up 0.8%. Gross margin went up 55 basis points to 40.8%, adjusted operating margin increased 13 basis points to 2.8% and adjusted diluted EPS was $0.26, up 30% on adjusted net earnings of $11.4 million.
 
Full year net sales increased 2.0% to $2,577.4 million, excluding sales from Shoes.com. Same store sales for Famous Footwear and the brand portfolio were up 1.9% and 2.3%, respectively, with the brand portfolio crossing $1 billion.

Diane Sullivan, CEO, president and chairman of Caleres said, “For the full year, we saw improvement at both the top and bottom line and delivered double digit earnings per share growth for the fourth year in a row.”
 
Ken Hannah, Chief Financial Officer of Caleres added, “While we’re pleased with our performance in 2015, we realistically expect fourth quarter 2015 industry-related challenges and uncertainty to continue into the first half of 2016.”
 
For 2016, Caleres expects its consolidated net sales to range between $2.65 billion and $2.68 billion, its Famous Footwear same store sales to be up low single digits and brand portfolio sales to be up mid-single digits.