Caleres Inc. reported its financial results for the first quarter of 2025, revealing a decline in net sales to $614.2 million, a 6.8% decrease compared to the first quarter of 2024. The Famous Footwear segment saw a decrease in net sales by 6.3%, with comparable sales down 4.6%. The Brand Portfolio segment also experienced a decline in net sales by 6.9%. The company announced structural cost-cutting actions expected to reduce Selling, General and Administrative (SG&A) expenses by $15 million on an annualized basis, with $7.5 million in savings anticipated for fiscal 2025. Caleres also projects that dollars sourced from China will be reduced to 10% or less in the second half of 2025. Due to market uncertainty, the company has suspended its guidance. Despite these challenges, Caleres noted that its brands continue to resonate with consumers, with both segments gaining market share during the period. The company acknowledged that February sales were particularly weak, but noted improved trends in March and April. Operating earnings were affected by lower gross margins, increased reserves, and costs related to canceling and moving inventory. However, Caleres experienced positive momentum in its retail operations and growth in its international business.