Caleres, Inc. reported financial results for the second quarter 2026, ending August 1, 2026. The company announced net sales of $695.5 million for the quarter, representing a 5.6% increase compared to the prior year period. This growth was driven primarily by the Brand Portfolio, which saw sales rise 23.6% year-over-year, with international sales increasing 57.0%. However, the company’s Famous Footwear division reported net sales of $695.5 million, down 6.3% from the previous year, with comparable store sales falling 5.9%.
On a GAAP basis, the company reported earnings per diluted share of $1.71 for the quarter, compared to $0.20 in the prior year. Adjusted earnings per diluted share were reported at $0.47, up from $0.35. The company also noted that its GAAP consolidated gross margin expanded by 1,140 basis points to 54.8% for the quarter, largely due to $55.6 million in tariff refunds. Excluding these refunds, the adjusted gross margin was 46.8%, up 340 basis points. Inventory at the end of the quarter totaled $754.2 million, an increase of $61.0 million from the prior year, though inventory excluding the Stuart Weitzman business was down 1.2%.
Looking ahead, Caleres provided guidance for the third quarter and full year of 2026. For the third quarter, the company expects consolidated net sales to increase in the low-single digits. GAAP earnings per diluted share are projected to be between $0.62 and $0.70. For the full year, the company anticipates consolidated net sales to increase in the low-to-mid-single digits range, with GAAP earnings per diluted share expected to be between $2.80 and $2.95. The company also updated its adjusted earnings per diluted share guidance for the full year to a range of $1.50 to $1.65, compared to the previous guidance of $1.40 to $1.65.
