Shoe group Caleres is working on "cleaning up inventory" and “unlocking cost synergies” for recent purchase Stuart Weitzman, with a view of increasing its long-term profitability.
The group – which also owns brands including Famous Footwear, Naturalizer, Sam Edelman, Allen Edmonds and Vionic - has reported a 7% increase in third-quarter sales to $790.1 million.
Brand Portfolio sales increased 19%, with $45.8 million in contribution from Stuart Weitzman, which it bought in August for $108.9 million.
Group CEO Jay Schmidt said: “As we expected, we experienced pressure on our earnings from tariffs and near-term acquisition dilution, however, the fundamentals of our business are improving.
“For the balance of the year, we will be working to transition the Stuart Weitzman business to Caleres systems and clean up aged and excess inventory as we hone our strategies for long-term growth and profitability of the brand. In fiscal 2026, we will begin to unlock synergistic cost savings.
“Through this integration process, we are sharpening our operating structure to better leverage our scale and strengthen our ability to build and grow powerful brands and consumer experiences.”
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