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Caleres Inc. (CAL-3.20%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing includes financial statements for the year, showing a decrease in net sales to $2,722.7 million from $2,817.3 million in the previous year. The decrease is attributed to soft consumer demand and the impact of the 53rd week in 2023.
Gross profit for the year was $1,222.0 million, compared to $1,263.0 million in the previous year. The gross margin rate increased slightly to 44.9% from 44.8% last year.
Operating earnings decreased to $149.9 million from $194.5 million in the previous year, reflecting lower net sales and higher selling and administrative expenses.
Net earnings attributable to Caleres Inc. were $107.3 million, down from $171.4 million in the previous year. The decrease in net earnings is primarily due to a higher income tax provision.
Cash provided by operating activities was $104.6 million, compared to $200.2 million in the previous year. The decrease is due to lower earnings and changes in working capital.
The company announced a definitive agreement to acquire Stuart Weitzman for $105 million, expected to close in the summer of 2025.
Caleres ended the fiscal year with 846 Famous Footwear stores and 114 Brand Portfolio retail stores, including 54 stores in East Asia.
The company continues to focus on its 'One Caleres' strategy to drive growth and profitability across its segments.
Caleres maintains a revolving credit facility with borrowing availability of up to $500 million, with $219.5 million borrowed as of February 1, 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Caleres Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.