“We capped off an outstanding year by delivering a consolidated fourth quarter sales increase of nearly 10% and earnings improvement on both a reported and adjusted basis. Famous Footwear and Brand Portfolio both contributed to this growth and delivered fourth quarter sales increases of 7.0% and 13.8%, respectively”, commented Diane Sullivan, CEO, President and Chairman of Caleres, adding: “Our success in 2017 is reflective of the foundational strength of our diversified portfolio of brands and is directly attributable to our ability to move to where the consumer is going. We expect to leverage our success in both of these areas in 2018 and to deliver adjusted earnings per share of between 2.40 US dollars and 2.50 US dollars.”

Fourth quarter consolidated sales reached 702.5 million US dollars, up by 9.8%, including Allen Edmonds.  Famous Footwear sales totaled 393.1 million US dollars, up by 7.0%, while same-store-sales were up by 2.8% on a 13-week basis. Brand Portfolio sales of 309.4 million US dollars were up 13.8% including contribution from Allen Edmonds, acquired on the 13th of December 2016.

Net earnings for the period reached 20.3 million US dollars, while diluted earnings per share were 0.47 US dollars and included a 0.02 US dollar charge for operations restructuring and a 0.01 US dollar benefit related to the Tax Cuts and Jobs Act. Adjusted net earnings of 20.6 million US dollars were up by 44.5%, while adjusted diluted net earnings per share of 0.48 US dollars were up 45.5%.

Consolidated sales for the full year totaled 2 785.6 million US dollars, up by 8.0%, including Allen Edmonds. Famous Footwear total sales reached 1 637.6 million US dollars, increasing by 3.0% from similar period last year. Brand Portfolio sales of 1 148.0 million US dollars, up by 16.0% including contribution from Allen Edmonds.

Net earnings in the 2017 reached 87.2 million US dollars , while diluted earnings per share were 2.02 US dollars and included 0.13 US dollars of charges related to the acquisition, integration and reorganization of men’s brands, a 0.02 US dollars charge for operations restructuring, and a 0.01 US dollars benefit related to the Tax Cuts and Jobs Act.  Adjusted net earnings of 93.1 million US dollars were up 7.5%, while adjusted diluted earnings per share of 2.16 US dollars were up 8.0%.