Allen Edmonds helps Caleres finish strongly
22/03/2017
Revenue from the US discount retail chain that Caleres operates, Famous Footwear, increased 1.9% to $367.5 million. Sales for its brand portfolio jumped 9.6% to $272 million. This included approximately six weeks of contribution from Allen Edmonds, the high-end men’s shoemaker that Caleres purchased in December 2016 for $255 million.
For the whole of 2016, Caleres achieved sales of $2.58 billion. Famous Footwear’s sales were up 1.1% to $1.6 billion but there was a 1.5% fall in sales from its brand portfolio, which totalled $989.3 million. Caleres said this reflected a “significant shift away from the mass channel throughout 2016”.
With the addition of Allen Edmonds, Caleres is forecasting sales of between $2.7 billion and $2.8 billion in 2017.
Image courtesy of Allen Edmonds/Caleres.
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