Strategic objectives create value for Caleres in 2 - footwearbiz: Lead

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Strategic objectives create value for Caleres in 2019

18/03/2020
Footwear group Caleres achieved full-year sales revenues of more than $2.9 billion for the 12 months ending February 1, 2020. This figure represents growth of 3% year on year.

Net earnings for the group were $86.4 million, a fall of 9%.

Chief executive, Diane Sullivan, said that the footwear market was “challenging” and said this was the reason for lower-than-expected earnings. But she said Caleres had made “excellent progress” on a range of “value-creating strategic objectives” in the course of the year.

Examples included 23% growth in its e-commerce business, a partnership with New York-based fashion designer Veronica Beard, and the relaunch of one of its legacy brands, Zodiac.

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