Caleres expects to report 3 percent drop in Q4 sales

Caleres expects fourth quarter 2019 consolidated net sales of approximately 700 million dollars, down 3 percent compared to 2018. The company said in a statement that Famous Footwear net sales are expected to reach approximately 370 million dollars, with same-store-sales up 5.1 percent, while brand portfolio net sales are expected at approximately 346 million dollars, down approximately 9 percent.

“During the fourth quarter, we saw continued shifts in the underlying fashion footwear market. Our brands performed well in the direct to consumer channels, including Famous Footwear, which had same-store-sales up 5.1 percent in the fourth quarter. However, holiday sales at a number of our retail partners were disappointing and our selling in the value channel has been difficult,” said Diane Sullivan, CEO, president and chairman of Caleres.

The company added that the implications of the coronavirus on the business are being closely monitored. Caleres’ Brand Portfolio segment sources approximately 60 percent of its footwear from China and the company further said that the near-term impact will ultimately depend on the duration of the delays in Chinese factory openings and how quickly the supply chain can return to normal operations.

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