Caleres Q2 FY20 result: sales $501 mn; net loss $31 mn

Caleres, a diverse portfolio of global footwear brands, posted sales down 33.4 per cent to $501.4 million during the second quarter (Q2) fiscal 2020 ended on August 1, compared to sales of $752.4 million in the same period last fiscal. Company incurred a net loss during the quarter of $30.6 million compared to earnings of $25.2 million in Q2 FY20.

 

Caleres, a diverse portfolio of global footwear brands, posted sales down 33.4 per cent to $501.4 million during the second quarter (Q2) fiscal 2020 ended on August 1 compared to sales of $752.4 million in the same period last fiscal. Company incurred a net loss during the quarter of $30.6 million compared to earnings of $25.2 million in Q2 FY20.#

Gross profit for the quarter was $182.6 million (Q2 FY19: $305.9 million). Selling and administrative expenses for the period were $201.3 million ($267.5 million). Operating loss for Q2 FY20 were $24.1 million ($37.8 million). 

 

Caleres, a diverse portfolio of global footwear brands, posted sales down 33.4 per cent to $501.4 million during the second quarter (Q2) fiscal 2020 ended on August 1 compared to sales of $752.4 million in the same period last fiscal. Company incurred a net loss during the quarter of $30.6 million compared to earnings of $25.2 million in Q2 FY20.#

“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,” Diane Sullivan, chief executive officer, president and chairman at Caleres, said in a press release.

 

Caleres, a diverse portfolio of global footwear brands, posted sales down 33.4 per cent to $501.4 million during the second quarter (Q2) fiscal 2020 ended on August 1 compared to sales of $752.4 million in the same period last fiscal. Company incurred a net loss during the quarter of $30.6 million compared to earnings of $25.2 million in Q2 FY20.#

Company reported a 20.5 per cent sales decline in Famous Footwear segment during the quarter. Brand Portfolio segment sales fell 48.9 per cent. However, e-commerce sales rose above 30 per cent, with total company ecommerce penetration rising to nearly 34 per cent of net sales, as company reported.