Tariffs mean Caleres takes a conservative view
Footwear group Caleres has reported a 3.4% decline in sales for 2024 to $2.7 billion.
However, in the fourth quarter it gained market share in women’s fashion footwear, its lead brands outperformed, it grew its trainers market.
Jay Schmidt, Caleres CEO, said: “While 2024 overall was disappointing relative to our initial expectations, we made meaningful progress in advancing our strategic priorities and positioning our brands for sustainable growth. We also returned $75 million to shareholders in the form of dividends and share repurchases.”
“As we look forward to 2025 and the macroeconomic environment with persistent inflation and newer tariffs, we believe it is prudent to take a conservative view for the year. Despite this posture, I am optimistic about what we have in store for 2025. Our lead brands remain strong and are collectively gaining market share, and we have expanded our customer reach with greater focus on the significant opportunity we see in contemporary.”
In February, the group announced plans to acquire Stuart Weitzman for $105 million. The transaction is expected to close this summer.
