Caleres 1Q Profit Rises as Consumer Sentiment Sputters

Dow Jones

May 29

By Adriano Marchese

Caleres 1Q profit rose despite a challenging consumer environment where budgets remain tight.

The footwear company's chief executive, Jay Schmidt, said Thursday that its operating environment has become more challenging, which will require more effort to drive growth and profitability.

Schmidt said that the company will focus on controlling what it can control, such as optimizing sourcing strategy.

For the first quarter, net earnings came fell to $6.9 million, or 21 cents a share, compared with $30.9 million, or $0.88 a share, in the same quarter a year ago.

Adjusted earnings were 22 cents a share, missing forecasts for the period according to FactSet, where analysts were expecting 36 a share.

Sales fell 6.8% to $614.2 million, missing expectations of $622.1 million.

"February sales were particularly weak, and although trends improved in March and April, overall performance was below plan," Chief Executive Jay Schmidt said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 29, 2025 07:58 ET (11:58 GMT)

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