Caleres Inc. (NYSE:CAL) reported mixed fourth-quarter results, posting an adjusted loss per share of -$0.36, in line with analyst expectations, while revenue of $695.1 million came in above the consensus estimate of $689.83 million. Shares rose about 1.3% following the release.
The footwear company recorded a 8.7% year-over-year increase in fourth-quarter revenue, largely driven by a 20.3% surge in Brand Portfolio sales, which included the contribution from the Stuart Weitzman acquisition. On an organic basis, Brand Portfolio sales rose 1.5%, while Famous Footwear revenue declined 1.2%, with comparable sales edging up 0.1%. The company said the integration of Stuart Weitzman was completed on schedule and within budget, with minimal disruption to operations.
“Caleres’ fourth quarter exceeded our earnings guidance with sales modestly above expectations and gross margin better than anticipated in both segments,” said Jay Schmidt, president and chief executive officer. “Performance was driven by continued strength in owned eCommerce and international growth, reinforcing our strategic growth vectors.”
For the first quarter of fiscal 2026, Caleres expects adjusted earnings per share to range between $0.25 and $0.30, with the midpoint of $0.275 above typical seasonal levels. The company anticipates net sales growth in the mid- to high-single-digit range.
Looking ahead to the full fiscal year 2026, Caleres projected adjusted earnings of $1.35 to $1.65 per share. The midpoint of $1.50 is slightly below the analyst consensus estimate of $1.51. The company expects net sales to grow in the low- to mid-single-digit range and forecasts gross margin expansion of 140 to 180 basis points as tariff mitigation measures take effect.
Excluding the Stuart Weitzman acquisition, the company’s adjusted loss per share for the fourth quarter would have been -$0.06. On a GAAP basis, Caleres reported a loss of -$0.70 per share for the quarter, compared with earnings of $0.15 per share in the same period a year earlier.