- Prachi Singh
For the second quarter, Caleres net sales were 501.4 million dollars, down 33.4 percent with direct-to-consumer sales representing 80 percent of total net sales. The company reported a 20.5 percent sales decline in the Famous Footwear segment with comparable stores sales up 14.7 percent during the quarter and a 48.9 percent sales decline in the Brand Portfolio segment. The company said in a statement that ecommerce related sales increased more than 30 percent, with total company ecommerce penetration rising to nearly 34 percent of net sales.
“The global Caleres team continued to navigate this choppy market environment, executing on our plan and delivering better than expected results in the quarter just ended,” said Diane Sullivan, Chief Executive Officer, President and Chairman of the company, adding, “Even with the ongoing market impacts of the virus, Caleres took significant steps during the quarter to strengthen the business, improve the balance sheet, leverage our capabilities and lay the foundation for a continuing recovery of our business in the year’s second half.”
The company’s gross profit for the quarter was 182.6 million dollars, while gross margin was 36.4 percent. Caleres posted net loss of 30.7 million dollars or a loss of 83 cents per diluted share compared to net income of 25.3 million dollars or 61 cents per diluted share, in the second quarter of fiscal 2019, while adjusted net loss was 21.1 million dollars or 57 cents per diluted share compared to adjusted net income of 25.8 million dollars or 62 cents per diluted share, in the second quarter of fiscal 2019.