Footwear group Caleres has reported its financial results for the first quarter of fiscal 2026, with sales and earnings increasing amid continued momentum in its Brand Portfolio segment.
Net sales for the first quarter totalled US$666.6 million, up 8.5% compared with the same period last year. Excluding Stuart Weitzman, net sales were US$622.7 million, representing growth of 1.4%.
The Famous Footwear segment saw sales decrease by 2.5%, with comparable sales down 2.3%. The Brand Portfolio segment reported a 20.6% increase in sales, or 5.8% growth excluding Stuart Weitzman. Direct-to-consumer sales accounted for approximately 67% of total net sales.
Gross profit for the quarter reached US$315.5 million, with a gross margin of 47.3%. Excluding Stuart Weitzman, adjusted gross profit was US$291.2 million, with an adjusted gross margin of 46.8%. Brand Portfolio gross margin increased to 49.0%, while Famous Footwear gross margin declined to 43.8%.
“We were pleased to report first quarter sales at the top end and earnings ahead of our guidance, reflecting the strength of our strategic growth vectors and broad-based momentum across our Brand Portfolio,” said Jay Schmidt, President and Chief Executive Officer of Caleres. “Within Brand Portfolio, we delivered growth across channels and geographies, with Lead Brands continuing to outperform, meaningful gross margin expansion, and further cross-category market share gains.”
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