EarningsQ2 2026 Earnings Report
DE:BRP Q2 2026 EPS Results
Actual EPS€0.42
Consensus EPS€0.33
Beat/MissBeat by +€0.09
One Year Ago EPS€0.31
DE:BRP Q2 2026 Revenue Results
Actual Revenue€620.63M
Expected Revenue€626.90M
Beat/MissMissed by -€6.27M
YoY Revenue Growth+5.61%
Earnings Announcement Details
QuarterQ2 2026
Date09/09/2026
TimeBefore Open
Conference CallWednesday, September 9, 2026
DE:BRP Upcoming Earnings
Caleres's next earnings date is estimated for November 24, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:BRP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive. Caleres reported better-than-expected adjusted second-quarter results, broad-based Brand Portfolio growth, significant margin expansion, market-share gains, strong international performance, and progress at Stuart Weitzman. These strengths outweighed the clearly stated challenges at Famous Footwear, including a 6.3% sales decline, lifestyle athletic weakness, promotional pressure, lower Vionic sales, higher SG&A, and tariff uncertainty. Management also raised the lower end of full-year adjusted EPS guidance while maintaining the high end.Company Guidance
Second-Quarter Results Exceeded Expectations
Caleres reported second-quarter adjusted results above expectations. Sales were $695 million, up 5.6% from last year, and adjusted earnings per diluted share were $0.47 compared with $0.35 last year.
Brand Portfolio Delivered Broad-Based Growth
Brand Portfolio organic sales increased 8.2% and increased 23.6% including Stuart Weitzman. Both lead brands and the balance of the brand portfolio delivered sales and earnings growth, with gains across wholesale, direct to consumer, and international channels.
Improved Consolidated and Brand Portfolio Margins
Consolidated gross margin, excluding the IEEPA tariff refund recovery, was 46.8%, up 340 basis points from last year. Brand Portfolio gross margin was 49.1%, up 880 basis points, driven by favorable channel and product mix, lower markdowns and allowances, tariff mitigation efforts, and lower current tariff rates. Brand Portfolio operating margin was 10.5%, up 740 basis points, or 13.0% excluding Stuart Weitzman, up 990 basis points.
International Business Posted Strong Growth
International sales increased more than 50% in the quarter and increased high teens organically. International represents less than 10% of total business, and management said lead brands remain underpenetrated in international markets with significant runway for growth.
Fashion Footwear Momentum and Market Share Gains
Management reported breakout momentum in fashion footwear, with strength in ballet flats, pumps, loafers, and fashion-relevant boots. Caleres once again gained market share in women's fashion footwear according to Circana.
Sam Edelman Delivered Mid-Teens Growth
Sam Edelman sales increased mid-teens year over year, with broad-based strength in closed casuals, dress, flats, and other key franchises. The brand became the number 9 volume brand in women's fashion footwear according to Circana and held the number 1 flat, number 1 pump, and number 1 loafer positions in the segment through spring.
Sam Edelman Growth Across Channels and Geographies
Sam Edelman's key department-store accounts delivered strong double-digit increases, owned retail sales grew, and higher average unit retails and improved gross margins supported the owned retail business. The Hamptons pop-up exceeded expectations, international momentum was particularly strong in China, and the men's line received positive reactions from all key accounts. The brand ended the quarter with 110 owned and franchised stores, including 4 in North America.
Stuart Weitzman Made Progress Toward Breakeven
Stuart Weitzman had a solid quarter, with improved full-price sell-through and international performance. Wholesale exceeded expectations, digital continued to improve following the replatform, and brick-and-mortar comparable performance strengthened as key flagships returned to growth. Management maintained its goal of achieving breakeven operating earnings in 2026 and said the brand is operating on Caleres platforms, has a rationalized store fleet, and has a simplified operating model.
Stuart Weitzman Product and China Momentum
Stuart Weitzman is building on the 505 and NUDIST icons while developing new hero franchises including Stuart Power and The Vinny. The brand is expanding its casual and sneaker assortment, and China is ahead of plan under new leadership with a rapid resurgence in popularity. The brand ended the quarter with 62 stores, including 21 in North America and 41 in Asia.
Allen Edmonds Delivered Low-Teens Growth
Allen Edmonds net sales increased low-teens, with cross-channel growth led by wholesale. Demand was broad-based, especially in dress shoes and loafers, while sandals benefited from expanded newness. The Reserve Collection more than doubled and gained distribution in premium wholesale accounts and the company's own stores.
Allen Edmonds Expanded Beyond Footwear
Allen Edmonds' non-shoe business grew at a healthy double-digit rate across accessories and apparel. Cross-category shoppers spent more, purchased more often, and delivered better margin. The brand gained meaningful market share in men's footwear across every footwear category and outpaced the broader premium and non-athletic markets.
Allen Edmonds Retail and Customer Trends Were Strong
Allen Edmonds ecommerce continued to grow and customer acquisition strengthened, with growth skewing toward younger, higher-income households. Sales at the 18 Port Washington studio stores increased 15%, outperforming the other 58 stores by over 800 basis points. A new King Street studio store opened in Charleston, with promising early reads.
Naturalizer Delivered High-Single-Digit Growth
Naturalizer sales increased high single digits, with growth across wholesale and direct to consumer. Profitability outpaced sales growth due to product newness, more full-price selling, and disciplined expense management. Dress increased double digits, led by modern pumps, slingbacks, and flats.
Naturalizer Brand Engagement Improved
Naturalizer saw continued demand for ballet flats and Mary Janes, while textured materials such as snake, raffia, and woven details helped differentiate the assortment and drive demand. The creative partnership with June Ambrose generated strong social interest that converted into traffic and sales and attracted younger, more diverse, and higher-income consumers.
Vionic Walking Category and Earnings Progress
Although Vionic sales were lower, earnings increased slightly year over year. Walking-category penetration increased sequentially to 13%, and walking sales grew more than 50% versus last year. Consumer adoption of newer technology platforms was encouraging, and the early response to the more casual and accessible Vionic Beach line was positive.
Vionic Is Expanding Its Premium Position and Distribution
Vionic's channel mix is shifting toward a more premium position while the company introduces new products with broader distribution opportunities. Management said fall inventory is in place, newness is continuing to flow into the assortment, and broader distribution opportunities are developing.
Famous Footwear Fashion and Premium Products Outperformed
At Famous Footwear, performance athletic remained strong, fashion strengthened and was meaningfully better than athletic, and premium product penetration increased sales 22% versus last year. August and quarter-to-date fashion comparable sales were positive and outperformed athletic by more than 10 percentage points.
Famous Footwear Held Share in Kids
Within kids, Famous Footwear held share in the total measurable market and gained share in two chains, with strength across several key brands according to Circana. Growth brands included Jordan, Birkenstock, SKECHERS, Brooks, and Steve Madden.
Actions Improved Famous Footwear Inventory Position
Famous Footwear reduced receipts and increased clearance events to address excess and aged inventory. Management said these actions meaningfully improved the inventory position exiting the quarter, while the company continued investing in categories that are trending.
Famous Footwear Is Expanding Fashion Assortment
Because fashion trends strengthened, Famous Footwear is expanding its fashion assortment and increasing inventory investment to support demand. Two non-athletic brands are planned for floor takeovers in the back half, and management expects these strategies to provide sales improvement in the back half relative to the second quarter.
Fashion and Athletic Product Newness Identified
Management reported continued strength in performance athletic, including Jordan and Brooks, a rebound from Adidas in more fashionable lifestyle products, and access to some Samba product. The company is continuing to register newness in athletic to identify the next major items.
Early Boot Trends Were Encouraging
Management saw early interest in dress boots at the Nordstrom anniversary event, additional pickup in August, and interest in festival-type boots. The company said it was excited about what it was seeing so far and would monitor the category through the season.
Operating Cash Resources and Liquidity
At quarter-end, Caleres had $50.9 million in cash, $288 million in borrowings, and $357.3 million of availability under its revolver.
Full-Year Earnings Guidance Raised at the Lower End
Based on first-half outperformance, Caleres raised the lower end of its adjusted EPS guidance while maintaining the high end. Full-year 2026 adjusted EPS guidance is $1.50 to $1.65, while GAAP EPS guidance is $2.80 to $2.95.
Full-Year Sales and Margin Outlook
Caleres expects full-year consolidated sales to increase in the low- to mid-single digits, Brand Portfolio sales to increase in the low double digits and in the mid-single digits organically, and consolidated gross margin to increase 180 to 220 basis points. SG&A rate is expected to be flat to slightly deleveraged, with incentive compensation and other investments largely offset by cost savings.
Third-Quarter Outlook
For the third quarter, Caleres expects consolidated sales to increase in the low single digits, Brand Portfolio sales to increase in the mid to high single digit percent range, and Famous Footwear sales and comparable sales to decline in the low single digits. Consolidated gross margin is expected to improve 150 to 200 basis points, GAAP EPS is expected to be $0.62 to $0.70, and the tax rate is expected to be 23% to 25%.
Store Portfolio Optimization and Capital Spending Plan
Caleres ended the quarter with 814 store locations after opening 3 and closing 3 during the quarter. For fiscal 2026, the company expects to open 13 stores and close 26, with planned capital expenditures of approximately $50 million to $55 million.
Tariff Refund Recognized in GAAP Results
Caleres recognized $57.4 million in IEEPA tariff refunds during the quarter, including $55.6 million as a reduction in cost of sales and $1.8 million of related interest income in other income. These amounts were included in GAAP results and excluded from adjusted results for comparability.
Continued Investment in Business Capabilities
Caleres continues to leverage its capabilities across product, sourcing, marketing, digital, and logistics to support its brands and drive profitable growth. The company also remains focused on strengthening Famous Footwear's in-store experience through Flare and improving digital engagement.
DE:BRP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed