Caleres introduces FY26 financial targets and strategic growth plan

Caleres is presenting its three-year strategic and financial plan. CEO Jay Schmidt stated, “…Over the last four years, we have transformed the earnings power of the organization. Importantly, the structural changes implemented over this period have established a new baseline earnings level of $4.00 per diluted share. And, FY23 is expected to mark our third year of achieving this result”. The three-year strategic plan focuses on four key areas: Brand Portfolio Segment Expected to Accelerate Growth – and deliver an outsized contribution to the company’s earnings. Caleres expects double-digit operating margin in 2023 and beyond with about 50% of revenue to be derived from the segment by 2026. Famous Footwear Deepens its Connection to the Millennial Family – and leverages its dominant position in Kids, enhanced omni experience, and consumer analytics to maintain its profitability and generate significant cash flow. One Caleres Platform and Capabilities Enhance Profitable Growth. The long-term plan expected to result in: net sales to grow at a three-year CAGR of 3%-5%; diluted adjusted EPS to increase at a three-year CAGR of 11%-13% to reach $6.00 at the mid-point of the range; and annual total shareholder return in low-to-mid-teens.