Footwear company Caleres (CAL) reported second-quarter earnings, with net sales increasing 5.6% year-over-year to $695.5 million, and adjusted diluted earnings per share rising to $0.47 from $0.35 in the same period last year. The company also raised the lower end of its full-year guidance.
However, the company's performance showed a mixed picture: sales for its brand portfolio (including Sam Edelman, Allen Edmonds, Stuart Weitzman, etc.) surged by 23.6% to $340.6 million, with Stuart Weitzman's "rapid recovery" in the Chinese market being the biggest growth driver. Meanwhile, sales for its core chain brand, Famous Footwear, declined by 6.3% to $374.4 million. CFO Daniel Karpel warned that the company faces an "uncertain tariff environment."
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Caleres (CAL) Q2 earnings beat expectations and the company raised its full-year guidance, but sales at its core brand, Famous Footwear, declined.
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