Business Wire | Sep 1, 2020 04:10PM EDT

Caleres Reports Second Quarter 2020 Results

Sep. 01, 2020

ST. LOUIS--(BUSINESS WIRE)--Sep. 01, 2020--Caleres (NYSE: CAL, caleres.com) a diverse portfolio of consumer-driven footwear brands, today reported financial results for the second quarter ended August 1, 2020. Despite ongoing pressures from the global pandemic, Caleres delivered sequential improvement in several key financial metrics, spurred by the efficient restart of its retail store fleet, ongoing strength in ecommerce sales and prudent management of expenses and working capital.

"The global Caleres team continued to navigate this choppy market environment, executing on our plan and delivering better than expected results in the quarter just ended," said Diane Sullivan, chief executive officer, president and chairman. "Even with the ongoing market impacts of the virus, Caleres took significant steps during the quarter to strengthen the business, improve the balance sheet, leverage our capabilities and lay the foundation for a continuing recovery of our business in the year's second half."

Second Quarter 2020 Highlights

(13-weeks ended August 1, 2020 compared to 13-weeks ended August 3, 2019)

* Net Sales were $501.4 million, down 33.4% from the second quarter of fiscal 2019 Direct-to-consumer sales represented 80 percent of total net sales; A 20.5 percent sales decline in the Famous Footwear segment with comparable stores sales up 14.7 percent during the quarter; A 48.9 percent sales decline in the Brand Portfolio segment; Total company ecommerce related sales increased more than 30 percent, with total company ecommerce penetration rising to nearly 34 percent of net sales; * Gross profit was $182.6 million, while gross margin was 36.4 percent reflecting an aggressive liquidation of spring inventory and higher penetration of ecommerce sales; * SG&A expense of $201.3 million, down $66.2 million compared to the second quarter of 2019; * Net loss of $30.7 million, or a loss of $0.83 per diluted share, compared to net income of $25.3 million, or $0.61 per diluted share, in the second quarter of fiscal 2019. The loss of $0.83 per share includes $0.13 of adjustments for COVID-19 related expenses and $0.13 related to the fair value adjustment to the Blowfish purchase obligation; * Adjusted net loss was $21.1 million, or an adjusted loss of $0.57 per diluted share compared to adjusted net income of $25.8 million, or adjusted earnings of $0.62 per diluted share, in the second quarter of fiscal 2019; * Ended the second quarter with $148.5 million of cash on hand; * Generated $66.8 million in cash from operations; * Reduced inventory levels approximately 27 percent year-over-year, reflecting actions taken to liquidate seasonal orders; * Reduced credit facility borrowings by $88.5 million, or approximately 20 percent, to $350 million; * Returned $13.1 million to shareholders during the quarter through its long-standing quarterly dividend and share repurchases; and * Continue to benefit from the absence of any significant debt maturities until 2023.

"Looking ahead, while we expect the second half of 2020 to continue to be unpredictable, we are managing our business for the long term while at the same time remaining nimble to adapt to unanticipated challenges that may arise during this unusual year," said Sullivan. "We believe our diverse portfolio of brands that are well-aligned with consumer trends, advanced capabilities and improving capital structure will lead us through the recovery and position Caleres to embrace rapidly changing consumer behaviors and capitalize on the increasingly dynamic marketplace."

Investor Conference Call

Caleres will host an investor conference call at 4:30 p.m. ET today, Tuesday, September 1. The webcast and associated slides will be available at investor.caleres.com/news/events. A live conference call will be available at (877) 217-9089 for analysts in North America or (706) 679-1723 for international analysts by using the conference ID 2989663. A replay will be available at investor.caleres.com/news/events/archive for a limited period. Investors may also access the replay by dialing (855) 859-2056 in North America or (404) 537-3406 internationally and using the conference ID 2989663 through Tuesday, September 14.

Definitions

All references in this press release, outside of the condensed consolidated financial statements that follow, unless otherwise noted, related to net earnings (loss) attributable to Caleres, Inc. and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders, are presented as net earnings (loss) and earnings (loss) per diluted share, respectively.

Non-GAAP Financial Measures

In this press release, the company's financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures. In particular, the company provides historic and estimated future gross profit, operating earnings (loss), net earnings (loss) and earnings (loss) per diluted share adjusted to exclude certain gains, charges and recoveries, which are non-GAAP financial measures. These results are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help identify underlying trends in the company's business and provide useful information to both management and investors by excluding certain items that may not be indicative of the company's core operating results. These measures should not be considered a substitute for or superior to GAAP results.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking statements and expectations regarding the company's future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) the recent coronavirus outbreak and its adverse impact on our business operations, store traffic and financial condition (ii) changing consumer demands, which may be influenced by consumers' disposable income, which in turn can be influenced by general economic conditions and other factors; (iii) impairment charges resulting from a long-term decline in our stock price; (iv) rapidly changing fashion trends and consumer preferences and purchasing patterns; (v) intense competition within the footwear industry; (vi) political and economic conditions or other threats to the continued and uninterrupted flow of inventory from China and other countries, where the company relies heavily on third-party manufacturing facilities for a significant amount of its inventory; (vii) imposition of tariffs; (viii) the ability to accurately forecast sales and manage inventory levels; (ix) cybersecurity threats or other major disruption to the company's information technology systems; (x) customer concentration and increased consolidation in the retail industry; (xi) transitional challenges with acquisitions; (xii) a disruption in the company's distribution centers; (xiii) foreign currency fluctuations; (xiv) changes to tax laws, policies and treaties; (xv) the ability to recruit and retain senior management and other key associates; (xvi) compliance with applicable laws and standards with respect to labor, trade and product safety issues; (xvii) the ability to maintain relationships with current suppliers; (xviii) the ability to attract, retain, and maintain good relationships with licensors and protect our intellectual property rights; and (xix) the ability to secure/exit leases on favorable terms. The company's reports to the Securities and Exchange Commission contain detailed information relating to such factors, including, without limitation, the information under the caption Risk Factors in Item 1A of the company's Annual Report on Form 10-K for the year ended February 1, 2020, which information is incorporated by reference herein and updated by the company's Quarterly Reports on Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change.

About Caleres

Caleres is a diverse portfolio of global footwear brands. Our products are available virtually everywhere - in the more than 1,100 retail stores we operate, in hundreds of major department and specialty stores, on our branded e-commerce sites, and on many additional third-party retail websites. Famous Footwear offers great casual and athletic brands for the entire family with convenient, curated, affordable collections. Sam Edelman keeps expressive women in step with the latest trends in a playful, whimsical way. Naturalizer shoes are beautiful from the inside out, with elegant simplicity and legendary fit re-imagined for today's consumer. Allen Edmonds combines old world craft with new world technology to create luxe footwear for the discerning man who wants sophisticated, modern classics. Rounding out our family of brands are Vionic, Vince, Franco Sarto, Dr. Scholl's Shoes, LifeStride, Blowfish Malibu, Bzees, Circus by Sam Edelman and Ryka. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is our more than 140 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great... feet first. Visit caleres.com to learn more about us.

SCHEDULE 1



CALERES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)

(Unaudited)

Thirteen Weeks Ended Twenty-Six Weeks Ended

(Thousands, except August 1, August 3, August 1, August 3, per share data) 2020 2019 2020 2019

Net sales $ 501,448 $ 752,485 $ 898,632 $ 1,430,239

Cost of goods sold 318,828 446,541 594,114 844,459

Gross profit 182,620 305,944 304,518 585,780

Selling andadministrative 201,331 267,531 426,524 529,642 expenses

Impairment ofgoodwill and - - 262,719 - intangible assets

Restructuring andother special 5,429 609 65,625 1,465 charges, net

Operating (loss) (24,140 ) 37,804 (450,350 ) 54,673 earnings

Interest expense, (13,387 ) (7,389 ) (22,866 ) (14,729 )net

Other income, net 3,672 2,650 7,257 5,269

(Loss) earnings (33,855 ) 33,065 (465,959 ) 45,213 before income taxes

Income tax benefit 3,186 (7,838 ) 89,118 (10,901 )(provision)

Net (loss) earnings (30,669 ) 25,227 (376,841 ) 34,312

Net earnings (loss)attributable to 48 (114 ) (286 ) (112 )noncontrollinginterests

Net (loss) earningsattributable to $ (30,717 ) $ 25,341 $ (376,555 ) $ 34,424 Caleres, Inc.



Basic (loss)earnings per commonshare attributable $ (0.83 ) $ 0.61 $ (9.94 ) $ 0.83 to Caleres, Inc.shareholders



Diluted (loss)earnings per commonshare attributable $ (0.83 ) $ 0.61 $ (9.94 ) $ 0.82 to Caleres, Inc.shareholders

SCHEDULE 2



CALERES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

August 1, August 3, February 1, 2020 2019 2020

(Thousands)

ASSETS

Cash and cash equivalents $ 148,544 $ 42,601 $ 45,218

Receivables, net 110,249 167,727 162,181

Inventories, net 574,830 792,064 618,406

Prepaid expenses and other current 96,426 51,394 56,494 assets

Total current assets 930,049 1,053,786 882,299



Lease right-of-use assets 624,881 723,415 695,594

Property and equipment, net 193,593 232,045 224,846

Goodwill and intangible assets, 270,361 546,110 539,579 net

Other assets 93,510 89,037 89,389

Total assets $ 2,112,394 $ 2,644,393 $ 2,431,707



LIABILITIES AND EQUITY

Borrowings under revolving credit $ 350,000 $ 300,000 $ 275,000 agreement

Trade accounts payable 280,319 448,596 267,018

Lease obligations 171,247 143,202 127,869

Other accrued expenses 216,334 190,331 181,063

Total current liabilities 1,017,900 1,082,129 850,950



Noncurrent lease obligations 579,399 649,100 629,032

Long-term debt 198,621 198,161 198,391

Other liabilities 71,340 90,325 104,204

Total other liabilities 849,360 937,586 931,627



Total Caleres, Inc. shareholders' 242,240 623,429 645,950 equity

Noncontrolling interests 2,894 1,249 3,180

Total equity 245,134 624,678 649,130

Total liabilities and equity $ 2,112,394 $ 2,644,393 $ 2,431,707

SCHEDULE 3



CALERES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Twenty-Six Weeks Ended

(Thousands) August 1, August 3, 2020 2019

OPERATING ACTIVITIES:

Net cash provided by operating activities $ 67,520 $ 116,578



INVESTING ACTIVITIES:

Purchases of property and equipment (6,394 ) (26,741 )

Disposals of property and equipment - 636

Capitalized software (2,220 ) (4,084 )

Net cash used for investing activities (8,614 ) (30,189 )



FINANCING ACTIVITIES:

Borrowings under revolving credit agreement 250,500 149,000

Repayments under revolving credit agreement (175,500 ) (184,000 )

Dividends paid (5,495 ) (5,808 )

Acquisition of treasury stock (23,348 ) (29,995 )

Issuance of common stock under share-based plans, (973 ) (2,547 )net

Other (649 ) (694 )

Net cash provided by (used for) financing 44,535 (74,044 )activities

Effect of exchange rate changes on cash and cash (115 ) 56 equivalents

Increase in cash and cash equivalents 103,326 12,401

Cash and cash equivalents at beginning of period 45,218 30,200

Cash and cash equivalents at end of period $ 148,544 $ 42,601

SCHEDULE 4



CALERES, INC.

RECONCILIATION OF NET EARNINGS (LOSS) AND DILUTED EARNINGS (LOSS) PER SHARE(GAAP BASIS) TO ADJUSTED NET EARNINGS (LOSS) AND ADJUSTED DILUTED EARNINGS(LOSS) PER SHARE (NON-GAAP BASIS)

(Unaudited)

Thirteen Weeks Ended

August 1, 2020 August 3, 2019

Pre-Tax Net (Loss) Diluted Pre-Tax Net Impact Earnings (Loss) Impact Earnings Diluted(Thousands, except per share of Attributable Earnings of Attributable Earnings data) Charges/ to Caleres, Per Charges to Caleres, Per Other Inc. Share /Other Inc. Share Items Items



GAAP (loss) earnings $ (30,717 ) $ (0.83 ) $ 25,341 $ 0.61



Charges/other items:

Fair value adjustment to $ 6,589 4,893 0.13 $ - - - Blowfish purchase obligation

COVID-19-related expenses (1) 5,429 4,709 0.13 - - -

Vionic integration-related - - - 609 452 0.01 costs

Total charges/other items $ 12,018 $ 9,602 $ 0.26 $ 609 $ 452 $ 0.01

Adjusted (loss) earnings $ (21,115 ) $ (0.57 ) $ 25,793 $ 0.62

(Unaudited)

Twenty-Six Weeks Ended

August 1, 2020 August 3, 2019

Pre-Tax Net (Loss) Diluted Pre-Tax Net Impact of Earnings (Loss) Impact Earnings Diluted(Thousands, except per Charges/ Attributable Earnings of Attributable Earnings share data) Other to Caleres, Per Charges to Caleres, Per Items Inc. Share /Other Inc. Share Items



GAAP (loss) earnings $ (376,555 ) $ (9.94 ) $ 34,424 $ 0.82



Charges/other items:

Goodwill andintangible asset $ 262,719 218,506 5.66 $ - - - impairment charges

COVID-19-related 99,040 78,047 2.17 - - - expenses (2)

Fair value adjustmentto Blowfish purchase 9,822 7,294 0.19 - - - obligation

Brand Portfolio - 1,598 1,187 0.03 1,905 1,415 0.03 business exits

Vionic acquisition andintegration-related - - - 6,727 4,996 0.13 costs

Total charges/other $ 373,179 $ 305,034 $ 8.05 $ 8,632 $ 6,411 $ 0.16 items

Adjusted (loss) $ (71,521 ) $ (1.89 ) $ 40,835 $ 0.98 earnings

(1) Represents costs associated with the economic impact of the COVID-19pandemic, primarily consisting of severance and the cost of supplies and deepcleaning of our facilities.

(2) Represents costs associated with the economic impact of the COVID-19pandemic, primarily consisting of impairment charges associated with propertyand equipment and lease right-of-use assets, inventory markdowns, expensesassociated with factory order cancellations, provision for expected creditlosses and severance.

SCHEDULE 5



CALERES, INC.

SUMMARY FINANCIAL RESULTS BY SEGMENT



SUMMARY FINANCIAL RESULTS

(Unaudited)

Thirteen Weeks Ended

Famous Footwear Brand Portfolio Eliminations and Other Consolidated

(Thousands) August 1, August 3, August 1, August 3, August 1, August 3, August 1, August 3, 2020 2019 2020 2019 2020 2019 2020 2019

Net sales $ 333,935 $ 419,841 $ 183,622 $ 359,575 $ (16,109 ) $ (26,931 ) $ 501,448 $ 752,485

Gross 119,155 182,301 64,002 124,840 (537 ) (1,197 ) 182,620 305,944 profit

Adjustedgross 119,155 182,301 64,002 124,840 (537 ) (1,197 ) 182,620 305,944 profit

Gross 35.7 % 43.4 % 34.9 % 34.7 % 3.3 % 4.4 % 36.4 % 40.7 %profit rate

Adjustedgross 35.7 % 43.4 % 34.9 % 34.7 % 3.3 % 4.4 % 36.4 % 40.7 %profit rate

Operatingearnings 1,045 31,542 (14,111 ) 13,898 (11,074 ) (7,636 ) (24,140 ) 37,804 (loss)

Adjustedoperating 1,633 31,542 (9,551 ) 13,916 (10,793 ) (7,045 ) (18,711 ) 38,413 earnings(loss)

Operating ) )earnings 0.3 % 7.5 % (7.7 % 3.9 % 68.7 % 28.4 % (4.8 % 5.0 %(loss) %

Adjustedoperating 0.5 % 7.5 % (5.2 ) 3.9 % 67.0 % 26.2 % (3.7 ) 5.1 %earnings % %(loss) %

Same-storesales % (on 14.7 % 1.5 % (24.7 ) (9.3 ) - % - % - % - %a 13-week % %basis)

Number of 936 973 202 231 - - 1,138 1,204 stores

RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)

(Unaudited)

Thirteen Weeks Ended

Famous Footwear Brand Portfolio Eliminations and Other Consolidated

(Thousands) August 1, August 3, August 1, August 3, August 1, August 3, August 1, August 3, 2020 2019 2020 2019 2020 2019 2020 2019

Gross profit $ 119,155 $ 182,301 $ 64,002 $ 124,840 $ (537 ) $ (1,197 ) $ 182,620 $ 305,944

Charges/Other Items:

COVID-19-related expenses - - - - - - - -

Total charges/other items - - - - - - - -

Adjusted gross profit $ 119,155 $ 182,301 $ 64,002 $ 124,840 $ (537 ) $ (1,197 ) $ 182,620 $ 305,944

Operating earnings (loss) $ 1,045 $ 31,542 $ (14,111 ) $ 13,898 $ (11,074 ) $ (7,636 ) $ (24,140 ) $ 37,804

Charges/Other Items:

COVID-19-related expenses 588 - 4,560 - 281 - 5,429 -

Vionic integration-related - - - 18 - 591 - 609 costs

Total charges/other items 588 - 4,560 18 281 591 5,429 609

Adjusted operating earnings $ 1,633 $ 31,542 $ (9,551 ) $ 13,916 $ (10,793 ) $ (7,045 ) $ (18,711 ) $ 38,413 (loss)

SCHEDULE 5



CALERES, INC.

SUMMARY FINANCIAL RESULTS BY SEGMENT



SUMMARY FINANCIAL RESULTS

(Unaudited)

Twenty-Six Weeks Ended

Famous Footwear Brand Portfolio Eliminations and Other Consolidated

(Thousands) August 1, August 3, August 1, August 3, August 1, August 3, August 1, August 3, 2020 2019 2020 2019 2020 2019 2020 2019

Net sales $ 525,187 $ 772,006 $ 400,860 $ 700,625 $ (27,415 ) $ (42,392 ) $ 898,632 $ 1,430,239

Gross 188,248 334,994 117,395 251,700 (1,125 ) (914 ) 304,518 585,780 profit

Adjustedgross 194,206 334,994 146,451 258,867 (1,125 ) (914 ) 339,532 592,947 profit

Gross 35.8 % 43.4 % 29.3 % 35.9 % 4.1 % 2.2 % 33.9 % 41.0 %profit rate

Adjustedgross 37.0 % 43.4 % 36.5 % 36.9 % 4.1 % 2.2 % 37.8 % 41.5 %profit rate

Operating(loss) (66,495 ) 42,355 (359,860 ) 26,827 (23,995 ) (14,509 ) (450,350 ) 54,673 earnings

Adjustedoperating (43,944 ) 42,355 (19,690 ) 34,621 (23,359 ) (13,671 ) (86,993 ) 63,305 (loss)earnings

Operating ) ) )(loss) (12.7 % 5.5 % (89.8 % 3.8 % 87.5 % 34.2 % (50.1 % 3.8 %earnings %

Adjustedoperating (8.4 ) 5.5 % (4.9 ) 4.9 % 85.2 % 32.2 % (9.7 ) 4.4 %(loss) % % %earnings %

Same-storesales % (on 13.9 % 0.4 % (24.7 ) (8.9 ) - % - % - % - %a 26-week % %basis)

Number of 936 973 202 231 - - 1,138 1,204 stores

RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)

(Unaudited)

Twenty-Six Weeks Ended

Famous Footwear Brand Portfolio Eliminations and Other Consolidated

(Thousands) August 1, August 3, August 1, August 3, August 1, August 3, August 1, August 3, 2020 2019 2020 2019 2020 2019 2020 2019

Gross profit $ 188,248 $ 334,994 $ 117,395 $ 251,700 $ (1,125 ) $ (914 ) $ 304,518 $ 585,780

Charges/Other Items:

COVID-19-related 5,958 - 27,458 - - - 33,416 - expenses

Brand Portfolio - - - 1,598 1,355 - - 1,598 1,355 business exits

Vionic acquisitionand - - - 5,812 - - - 5,812 integration-relatedcosts

Total charges/other 5,958 - 29,056 7,167 - - 35,014 7,167 items

Adjusted gross $ 194,206 $ 334,994 $ 146,451 $ 258,867 $ (1,125 ) $ (914 ) $ 339,532 $ 592,947 profit

Operating (loss) $ (66,495 ) $ 42,355 $ (359,860 ) $ 26,827 $ (23,995 ) $ (14,509 ) $ (450,350 ) $ 54,673 earnings

Charges/Other Items:

Goodwill andintangible asset - - 262,719 - - - 262,719 - impairment charges

COVID-19-related 22,551 - 75,853 - 636 - 99,040 - expenses

Brand Portfolio - - - 1,598 1,905 - - 1,598 1,905 business exits

Vionic acquisitionand - - - 5,889 - 838 - 6,727 integration-relatedcosts

Total charges/other 22,551 - 340,170 7,794 636 838 363,357 8,632 items

Adjusted operating $ (43,944 ) $ 42,355 $ (19,690 ) $ 34,621 $ (23,359 ) $ (13,671 ) $ (86,993 ) $ 63,305 (loss) earnings

SCHEDULE 6



CALERES, INC.

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE RECONCILIATION

(Unaudited)

Thirteen Weeks Ended Twenty-Six Weeks Ended

(Thousands, except per August 1, August August 1, Augustshare data) 2020 3, 2020 3, 2019 2019



Net (loss) earningsattributable to Caleres, Inc.:

Net (loss) earnings $ (30,669 ) $ 25,227 $ (376,841 ) $ 34,312

Net (earnings) lossattributable to (48 ) 114 286 112 noncontrolling interests

Net (loss) earningsattributable to Caleres, (30,717 ) 25,341 (376,555 ) 34,424 Inc.

Net earnings allocatedto participating - (857 ) - (1,125 )securities

Net (loss) earningsattributable to Caleres,Inc. after allocation of $ (30,717 ) $ 24,484 $ (376,555 ) $ 33,299 earnings toparticipating securities



Basic and diluted commonshares attributable to Caleres, Inc.:

Basic common shares 37,113 39,951 37,881 40,346

Dilutive effect of - 55 - 58 share-based awards

Diluted common sharesattributable to Caleres, 37,113 40,006 37,881 40,404 Inc.



Basic (loss) earningsper common share $ (0.83 ) $ 0.61 $ (9.94 ) $ 0.83 attributable to Caleres,Inc. shareholders



Diluted (loss) earningsper common share $ (0.83 ) $ 0.61 $ (9.94 ) $ 0.82 attributable to Caleres,Inc. shareholders

SCHEDULE 7 CALERES, INC.

BASIC AND DILUTED ADJUSTED EARNINGS (LOSS) PER SHARE RECONCILIATION

(Unaudited)

Thirteen Weeks Ended Twenty-Six Weeks Ended

(Thousands, except per August 1, August August 1, Augustshare data) 2020 3, 2020 3, 2019 2019



Adjusted net (loss)earnings attributable to Caleres, Inc.:

Adjusted net (loss) $ (21,067 ) $ 25,679 $ (71,807 ) $ 40,723 earnings

Net (earnings) lossattributable to (48 ) 114 286 112 noncontrolling interests

Adjusted net (loss)earnings attributable to (21,115 ) 25,793 (71,521 ) 40,835 Caleres, Inc.

Net earnings allocated to - (873 ) - (1,336 )participating securities

Adjusted net (loss)earnings attributable toCaleres, Inc. after $ (21,115 ) $ 24,920 $ (71,521 ) $ 39,499 allocation of earnings toparticipating securities



Basic and diluted commonshares attributable to Caleres, Inc.:

Basic common shares 37,113 39,951 37,881 40,346

Dilutive effect of - 55 - 58 share-based awards

Diluted common sharesattributable to Caleres, 37,113 40,006 37,881 40,404 Inc.



Basic adjusted (loss)earnings per common share $ (0.57 ) $ 0.62 $ (1.89 ) $ 0.98 attributable to Caleres,Inc. shareholders



Diluted adjusted (loss)earnings per common share $ (0.57 ) $ 0.62 $ (1.89 ) $ 0.98 attributable to Caleres,Inc. shareholders

View source version on businesswire.com: https://www.businesswire.com/news/home/20200901005980/en/

CONTACT: Investor Contact: Logan Bonacorsi lbonacorsi@caleres.com