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About Caleres, Inc.

There's no business like shoe business for Caleres (formerly Brown Shoe Company). Caleres operates 1,055 value-priced family footwear stores under the Famous Footwear banner in the US and Guam, 153 Naturalizer stores in the US, Canada, Guam, and a growing number of shoe stores in China. The company also sells shoes online and licenses Dr. Scholl's and Disney brand footwear. It distributes footwear worldwide through more than 1,900 retailers, including independent, chain (DSW), department stores (Nordstrom), catalogs, and online retailers. Caleres is opening new stores, closing underperforming ones, and updating styles to appeal to younger bipeds.

Operations

Caleres has two segments: Famous Footwear, and Brand Portfolio. The Famous Footwear segment is the largest and it accounted for 62% of revenue in fiscal 2017. The Brand Portfolio segment brough in the remaining 38% of revenue in fiscal 2017.

The Famous Footwear segment includes the company's Famous Footwear stores, as well as Famous.com., which operates with 1055 stores. Famous Footwear stores feature a wide selection of brand-name athletic, casual and dress shoes for the entire family. Brands carried include, among others, NIKE , Skechers , Bearpaw, Converse , Vans , New Balance , adidas , Asics , Sperry, and Sof Sole, as well as company-owned and licensed brands including, among others, LifeStride, Dr. Scholl's, Fergalicious, Naturalizer and Carlos.

The Brand Portfolio segment is comprised of the Naturalizer, Sam Edelman, Dr. Scholl's, Franco Sarto, LifeStride, Vince, Via Spiga, Fergie, Ryka, Allen Edmonds, and Carlos brands. Brand Portfolio operates around 234 retail stores in the US, Canada, Guam, and Italy.  In connection with its omni-channel approach to reach consumers, the company also operates Naturalizer.com, Naturalizer.ca, SamEdelman.com, and DrSchollsShoes.com.

Geographic Reach

While Caleres rings up more than 90% of its sales in the US, its retail reach extends as far as China where its majority-owned subsidiary, B&H Footwear Limited, operates about 25 shoe stores in major cities. China is the source for about 75% of Brown Shoe's footwear. The company has sourcing and product development offices in China, Hong Kong, Macau, Vietnam, Italy, Ethiopia, and the US (St. Louis, Port Washington, and New York).

Sales and Marketing

Caleres' footwear is distributed throughout North America via retailers, including national chains, department stores, mass merchandisers, independent retailers, online retailers, and catalogs.

The company invests in advertising and marketing support, including print, in-store displays and fixtures, public relations, tradeshows consumer media advertising, production, cooperative advertising, and digital advertising, with its wholesale customers. Caleres' total advertising and marketing expense are usually more than $75 million per year.

Significant wholesale customers include Famous Footwear, and large nation-wide retailers like DSW, TJX Corp and Nordstrom Rack; department stores such as Macy's, Bloomingdale's, and Dillard's; Nordstrom.com, online retailers such as Zappos.com and Amazon; mass merchandisers such as Walmart and Target; and independent retailers like QVC and Home Shopping Network.

As part of its omni-channel strategy, Caleres also operates Famous.com, which offers an expanded product assortment beyond what is sold in Famous Footwear stores, accessible via desktop, tablet, and mobile devices.

Financial Performance

Caleres' revenue increased $2 million, or 0.1%, to $2.5 billion in fiscal 2017. The slight growth was driven by the company's Famous Footwear segment, which reported a net sales increase of $17.4 million. The acquisition of Allen Edmonds contributed $19.3 million in retail sales and $5 million in wholesale sales during 2017.

The company's net income was $65.7 million in fiscal 2017, or $1.52 per diluted share, compared to $81.5 million the previous fiscal year.

Strategy

Updating its image and brand, in 2015 Brown Shoes changed its corporate name to Caleres. In 2016, Caleres opened six Sam Edelman stores, including its first such store in Texas.

In 2015, Caleres added two new names to its Brand Portfolio segment: Diane Von Furstenberg (DVF) and George Brown. It teamed up with DVF to launch a women's luxury contemporary shoe line, and launched a new shoe line for men with George Brown, expanding Caleres' reach in the sector.

In 2015 the company launched e-commerce site Bzees.com for its Bzees brand shoes. That year Celares entered into a licensing agreement with Diane von Furstenberg to produce and distribute a women's shoe collection for the Resort 2016 season. Caleres has been reducing the store counts of both its Famous Footwear and specialty retail chains, while gradually growing its retail footprint in China. Indeed, China is a growth market for Caleres. The company has a joint venture agreement with a subsidiary of C.banner International Holdings Limited (CBI) to market Naturalizer footwear in China. Celares is a 51% owner of the joint venture B&H Footwear, with CBI owning the other 49%. B&H Footwear sells Naturalizer footwear to a retail affiliate of CBI on a wholesale basis.

Mergers and Acquisitions

In late 2016 the company acquired men's premium footwear maker Allen Edmonds from private equity firm Brentwood Associates for $255 million. The purchase of the nearly century old brand broadens Caleres' growing men's footwear portfolio.

Caleres, Inc.

8300 MARYLAND AVE
Saint Louis, MO 63105-3645
Phone: 1 (314) 854-4000

Stats

Employer Type: Publicly Owned
Stock Symbol: CAL
Stock Exchange: , NYSE
SVP and CFO: Kenneth H. Hannah
SVP Logistics and Customer Care and CIO: Mark A. Schmitt
Chairman, President, and CEO: Diane M. Sullivan
Employees (This Location): 600
Employees (All Locations): 11,500

Major Office Locations

Saint Louis, MO

Other Locations

Anchorage, AK
Fairbanks, AK
Wasilla, AK
Leeds, AL
Rogers, AR
Anthem, AZ
Casa Grande, AZ
Chandler, AZ
Gilbert, AZ
Glendale, AZ
Goodyear, AZ
Lake Havasu City, AZ
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Phoenix, AZ
Prescott, AZ
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