Caleres revenues down by 30%
Footwear group Caleres has announced revenues of just over $1.5 billion for the first nine months of its current business year. This represents a fall of 30.4% compared to the same period a year ago.
The group said it was encouraged by a stronger third quarter, for which the drop in revenues was 18.3% year on year.
“Caleres furthered its recovery during the third quarter delivering results significantly better than anticipated in nearly all major financial metrics,” said chief executive, Diane Sullivan. “The team has continued to overcome the ongoing covid-related pressures in an impressive manner, further advancing the company’s key strategic objectives.”
She pointed to cost discipline, improved store productivity, an extended back-to-school season and positive consumer reaction to the group’s casual, sport and athletic-inspired assortment.
Brands that are part of the Caleres portfolio include Allen Edmonds, Famous Footwear, Blowfish Malibu, Via Spiga, Vince and Sam Edelman.
