Caleres reports flat sales but ‘good performance’ in third quarter
30/11/2015
Sales of $728.6 million were flat compared with Q3 2014 ($729.3 million).
Excluding sales from Shoes.com, which was sold in December of 2014, sales were up 1.8%.
Brand portfolio sales were up 2.7% for the first nine months of 2015. Famous Footwear delivered same-store-sales growth of 4.4% and contemporary fashion sales were up 4.5%, with “good growth” from Sam Edelman and Vince.
Ken Hannah, chief financial officer of Caleres, said: “Our performance at both Famous Footwear and our brand portfolio is a reflection of the work we’ve done to manage inventory and expenses – while investing to grow our businesses – during a challenging third quarter,” said. “While we expect the retail environment will be promotional during the fourth quarter, we remain focused on delivering consistent, profitable and sustainable growth.”
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