The US footwear business Caleres recently reported that, despite a 0.1 per cent increase in fourth-quarter sales to US $ 697.1 million for the three months ending January 28, 2023 total sales declined 5.1 per cent to US $ 2.82 billion.
According to the firm, Famous Footwear saw a slight drop in net sales of 1.5 per cent during the quarter, while the Brand Portfolio sector saw a 4.5 percent growth in net sales. Approximately 74 per cent of all net sales were made directly to consumers. Similarly, net sales for the Famous Footwear category fell 5.6 per cent in 2023, while comparable sales fell 6.3 per cent over a 52-week period. Net sales for the Brand Portfolio division decreased by 3.9 per cent. Sales to consumers directly each year accounted for roughly 72 per cent of total net sales.
“The Caleres team delivered another strong operational performance in the fourth quarter, culminating in a third consecutive year of adjusted earnings per share in excess of our US $ 4.00 baseline and underscoring the durability of our earnings power,” said Jay Schmidt, president and chief executive officer.
The company’s profits dropped in 2023, with net earnings of US $ 171.4 million, compared to net earnings of US $ 181.7 million.
Bharat Tex Special Report 2026 
