10-Q · June 9, 2026
Caleres has reported solid results for Q1 2026, with revenues of $666.6 million and EPS of $0.38, both above market expectations. The company's gross margin improved to 45.4%, indicating positive operational…
Earnings analysis · 10-Q
CAL earnings analysis
Filed September 10, 2026 · Our reading of the company's report
The latest report
Caleres delivered adjusted EPS of $0.47 versus the $0.38 consensus, while revenue of $695.454 million fell short of the $703.279 million estimate. Brand Portfolio sales rose 23.6%, but Famous Footwear declined 6.3%;…
Read full summary
Caleres delivered adjusted EPS of $0.47 versus the $0.38 consensus, while revenue of $695.454 million fell short of the $703.279 million estimate. Brand Portfolio sales rose 23.6%, but Famous Footwear declined 6.3%; earnings also benefited from a $55.6 million tariff refund. The outlook is mixed: adjusted fiscal 2026 EPS guidance was raised to $1.50-$1.65, but the quarter remained exposed to Famous Footwear weakness and potentially nonrecurring tariff-related benefits.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.47
- Segment
- Brand Portfolio: sales increased 23.6% year over year.
- Segment
- Famous Footwear: sales declined 6.3% year over year.
What stood out
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Adjusted EPS beat consensus
Adjusted EPS was $0.47, exceeding the $0.38 consensus estimate by $0.09, or 23.7%.
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Revenue modestly missed estimates
Revenue was $695.454 million, approximately 1.1% below the $703.279 million consensus estimate.
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Brand Portfolio drove growth
Brand Portfolio sales increased 23.6% year over year, offsetting weakness in Famous Footwear.
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Profitability offset segment weakness
Famous Footwear sales declined 6.3% year over year, but the company still reported adjusted EPS of $0.47.
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Adjusted EPS outlook improved
Adjusted fiscal 2026 EPS guidance increased at the low end to $1.50 from $1.40, while the high end remained $1.65.
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Controls remained effective
Management reported that disclosure controls were effective at the reasonable-assurance level as of August 1, 2026, with no material internal-control changes during the quarter.
What to watch
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Famous Footwear remains weak
Famous Footwear sales declined 6.3% year over year, creating a material offset to the 23.6% growth in Brand Portfolio sales.
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Tariff refund benefit may not recur
The reported results included $55.6 million of tariff refunds, a benefit that may not recur and therefore reduces the quality of period-over-period earnings.
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Inventory increased
Inventory increased during the quarter, adding working-capital and markdown risk; the filing excerpt does not provide the inventory balance or percentage change.
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No new risk-factor changes
The company stated that there were no material changes to previously disclosed risk factors during the three months ended August 1, 2026, limiting evidence of newly emerging filing-specific risks.
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Repurchase flexibility is constrained
The company had 3,116,055 shares remaining under its repurchase authorization as of August 1, 2026, but repurchases are limited under the revolving credit agreement.
Management's outlook
Adjusted fiscal 2026 EPS guidance was raised at the low end from $1.40-$1.65 to $1.50-$1.65; GAAP fiscal 2026 EPS guidance is $2.80-$2.95. Fiscal 2026 sales are expected to increase low-to-mid single digits, while Q3 sales are expected to increase low-single digits with GAAP EPS of $0.62-$0.70.
Earlier filings 4
10-K · April 2, 2026
Caleres reported net sales of $2,757.9 million in 2025, up $35.2 million (+1.3%) versus 2024, driven by Brand Portfolio growth and the August 4, 2025 Stuart Weitzman acquisition. Profitability deteriorated in 2025:…
10-Q · December 11, 2025
Caleres reported consolidated net sales of $790.1 million for the quarter ended November 1, 2025, up $49.2 million or 6.6% year-over-year, driven by Brand Portfolio strength and the August 4, 2025 Stuart Weitzman…
10-K · April 1, 2025
Caleres describes a 'One Caleres' omni-channel strategy focused on growing direct-to-consumer sales and expanding its Brand Portfolio (including the Feb 2025 definitive agreement to acquire Stuart Weitzman for $105…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.