Caleres registers best-ever quarterly sales
US-based footwear group Caleres, the company behind brands such as Sam Edelman, Veronica Beard and Famous Footwear, has reported its first-quarter (Q1) results for the three months ended April 30, 2022.
Net sales reached $735.1 million, representing a year-on-year boost of 15.1%.
Group chair and chief executive, Diane Sullivan, described its Q1 performance across sales, gross profit margins and earnings as the firm's best on record. Specifically, she added, “strong product design, diverse and targeted assortments and [a] bold and strategic approach to inventory” all led to Caleres’ finest ever quarterly sales and operating earnings results.
According to Ms Sullivan, the company's portfolio is now “exceptionally well-positioned to capitalise on favourable market dynamics”, despite ongoing supply chain issues and various challenges presented by the wider macro-economic environment.
