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About Caleres, Inc.

There's no business-like shoe business for Caleres. Caleres operates about 950 value-priced family footwear stores under the Famous Footwear banner in the US, Canada, and Guam, plus nearly 230 Naturalizer, Allen Edmonds, and Sam Edelman stores in the US, Canada, Italy, and Guam. The company also sells shoes online and licenses Dr. Scholl's, LifeStride, and Blowfish Malibu-branded footwear, among others. It distributes footwear worldwide through more than 3,900 retailers, including independent retailers, chain (DSW), department stores (Nordstrom), catalogs, and online retailers.

Operations

Caleres has two segments: Famous Footwear, and Brand Portfolio. The Famous Footwear segment is the largest and it accounts for about 55% of revenue. The Brand Portfolio segment brings in the remaining about 45% of revenue.

The Famous Footwear segment includes the company's Famous Footwear stores, as well as Famous.com., which operates with around 950 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, Fergie, Naturalizer and Carlos.

The Brand Portfolio segment comprises the Naturalizer, Sam Edelman, Dr. Scholl's, Franco Sarto, LifeStride, Vince, Via Spiga, Fergie, Ryka, Allen Edmonds, and Carlos brands. Brand Portfolio operates around 230 retail stores in the US, Canada, Guam, and Italy. It also distributes its brands on a wholesale basis to more than 3,900 retailers. In connection with its omni-channel approach to reach consumers, the company also operates Naturalizer.com, Naturalizer.ca, SamEdelman.com, DrSchollsShoes.com, LifeStride.com, FrancoSarto.com, Vionicshoes.com, Ryka.com, Bzees.com, ViaSpiga.com, and ZodiacShoes.com.

Women's footwear generates the majority of sales in terms of categories which accounts for about 65% of revenue, followed by Men's footwear which accounts for more than 20%, Children's footwear accounts for about 10% and lastly, Clothing and accessories with more than 5% of company's revenue.

Caleres sources its footwear from around 70 manufacturers, mainly in China.

Geographic Reach

Missouri-based Caleres rings up nearly 95% of its sales in the US. Its total store footprint across the US, Canada, Guam, and Italy amounts to nearly 1,180 stores.

Caleres has sourcing and product development offices in China, Hong Kong, Macau, Vietnam, Italy, Ethiopia, and the US. It has distribution centers in the US and Canada and two factories in the Dominican Republic and Wisconsin.

Sales and Marketing

Aside from its company-operated stores, Caleres' footwear is distributed throughout North America via over 3,900 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' advertising and marketing expense are $100.9 million in 2019, $84.8 million in 2018, and $83.6 million in 2017.

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

For the past five years, Caleres' revenue growth rate is slowly but surely going up. However, net earnings for the company is fluctuating.

In 2019, the company's sales grew 3% to $2.9 billion due to contributions from the acquired Vionic and Blowfish Malibu brands, partially offset by lower sales of certain brands in its Brand Portfolio segment, and decrease in net sales attributable to the decline in the number of its retail stores for Famous Footwear.

The Company posted net earnings of $62.8 million, after losses incurred in 2018.

Caleres' cash on hand increased by $15 million in 2019, ending the year at $45.2 million. The company's operations generated $170.8 million. Financing activities used $106.3 million and another $49.5 million was used in its investing activities. Caleres' main cash uses in 2019 were for acquisition of properties and equipment, repayment of revolving credits, and acquisition of treasury stocks.

Strategy

Caleres' main strategy is focused on continued market share gains, growing its e-commerce business and leveraging its recent investments, while remaining focused on changing consumer demand.

In 2019, the company announced a joint venture with Brand Investment Holding. The joint venture expands its international presence by distributing its Naturalizer and Sam Edelman brands in greater China, including Hong Kong, Macau and Taiwan.

The Company is also taking actions to effectively manage its business and support its consumers during the time of COVID-19 pandemic. It is taking steps to manage the Company's resources conservatively by reducing and/or deferring capital expenditures, inventory purchases and operating expenses to mitigate the adverse impact of the pandemic. These include steps, but are not limited to, associate furloughs for a significant portion of itsr workforce and salary reductions for all remaining associates during the temporary store closures, including associates at its distribution centers and corporate offices; minimizing costs associated with its closed retail facilities; and reducing marketing expenses and reducing variable expenses during the store closure period.

Caleres, Inc.

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

Firm 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): 11,400

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
Marana, AZ
Mesa, AZ
Peoria, AZ
Phoenix, AZ
Prescott, AZ
Queen Creek, AZ
Sedona, AZ
Sierra Vista, AZ
Surprise, AZ
Tempe, AZ
Tucson, AZ
Yuma, AZ
Alpine, CA
Anderson, CA
Apple Valley, CA
Atascadero, CA
Atwater, CA
Auburn, CA
Bakersfield, CA
Brea, CA
Brentwood, CA
Camarillo, CA
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Downey, CA
Elk Grove, CA
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Foothill Ranch, CA
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Gilroy, CA
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Granada Hills, CA
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Las Vegas, MO
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Lees Summit, MO
Lincoln, MO
Michigan City, MO
New Hartford, MO
New Orleans, MO
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North Wales, MO
Odessa, MO
O Fallon, MO
Oklahoma City, MO
Olathe, MO
Orlando, MO
Osage Beach, MO
Pensacola, MO
Philadelphia, MO
Phoenix, MO
Plano, MO
Pleasant Prairie, MO
Pompano Beach, MO
Pottstown, MO
Rancho Cordova, MO
Round Rock, MO
Sacramento, MO
Saint Augustine, MO
Saint Charles, MO
Saint Joseph, MO
Saint Louis, MO
Saint Peters, MO
Santa Fe, MO
Saratoga Springs, MO
Seattle, MO
Sikeston, MO
Silverthorne, MO
Simpsonville, MO
Sparks, MO
Spring, MO
Springfield, MO
Sterling, MO
Tacoma, MO
Tomball, MO
Tucson, MO
Tustin, MO
Washington, MO
Wentzville, MO
West Palm Beach, MO
Wilmington, MO
Wooster, MO
Vicksburg, MS
Billings, MT
Bozeman, MT
Great Falls, MT
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Kalispell, MT
Missoula, MT
Smithfield, NC
Grand Forks, ND
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Omaha, NE
Papillion, NE
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Seabrook, NH
Tilton, NH
West Lebanon, NH
Atlantic City, NJ
Blackwood, NJ
Clifton, NJ
East Brunswick, NJ
East Windsor, NJ
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Howell, NJ
Jackson, NJ
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Middletown, NJ
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Paramus, NJ
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South Plainfield, NJ
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Trenton, NJ
Watchung, NJ
Wayne, NJ
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Las Cruces, NM
Carson City, NV
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