Slide 1: First Quarter 2023
First Quarter 2023 June 1, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement UNDER T HE PRIVAT E SECURIT IES LIT IGAT ION REFORM ACT OF 1995 This presentation contains certain forward-looking statements and expectations regarding the company’s future performance and the performance of its brands. Such statements are subject to various risks and uncertai
Slide 3: Caleres is uniquely positioned to win in any market environment
Caleres is uniquely positioned to win in any market environment Delivered first quarter earnings per share at upper end of guidance, due to record first quarter contribution from Brand Portfolio and despite a challenging operating environment at Famous Footwear Powerful portfolio of diversified bran
Slide 4: Caleres in Brief – First Quarter 2023
Caleres in Brief – First Quarter 2023 S AL E S O P E R AT I N G M AR G I N E AR N I N G S P E R S H AR E I N V E N T O RY in millions of $ % of net sales in millions of $ $735 $648 $644 $639 $663 $650 $560 $445 $1.32 9.0% $0.97 7.5% 2.5% 2.8% $0.22 $0.16 1Q19 1Q21 1Q22 1Q23 1Q19 1Q21 1Q22 1Q23 1Q19
Slide 5: First Quarter 2023 Accomplishments
First Quarter 2023 Accomplishments G R O S S MAR G IN E B IT D A IN V E N T O RY 45.7% $63.7 -13.1% 120 basis points higher than 1Q22, million, or 9.6% of net sales vs. 1Q22 representing a first quarter record D E B T R E D U C T IO N D T C B U S IN E S S MAR K E T S H AR E $16.0 8.2% >6.0% million
Slide 6: Fiscal 2023 Outlook
Fiscal 2023 Outlook Consolidated sales down 3 percent to 5 percent vs. fiscal 2022, including the 53rd week Diluted earnings per share of $4.02 to $4.22 Adjusted diluted earnings per share of $4.10 to $4.30 Consolidated operating margin of 7.3 percent to 7.5 percent Full year interest expense of $17
Slide 7: Second Quarter 2023 Outlook
Second Quarter 2023 Outlook Consolidated net sales down 4 percent to 5 percent, compared to second quarter 2022 Diluted earnings per share of $0.79 to $0.84 Adjusted diluted earnings per share of $0.87 to $0.92 7
Slide 8: Cost Savings Initiatives
Cost Savings Initiatives Caleres has taken steps to reduce expenses across the organization ~$20 MILLION Actions include the elimination of open corporate positions, reduction in indirect procurement IN - YE AR S G & A S AV IN G S expense, realizing additional Brand Portfolio synergies, and lowering
Slide 9: Caleres Capabilities
Caleres Capabilities D E S IG N & E D IT T O W IN D IG ITAL IN N O VAT IO N AN ALYT IC S S O U R C IN G & MAR K E T IN G L O G IS T IC S 9
Slide 10: Appendix
Appendix
Slide 11: Caleres constantly evaluates the most value-enhancing avenue for its free cash flow
Caleres constantly evaluates the most value-enhancing avenue for its free cash flow CAL ERES DEBT PROF I L E in millions of dollars C A L IS C OM M IT T E D T O A F L E X IBL E A PPROA C H $500 T O C A PITA L A L L OC AT ION INC L UD ING : $400 $300 ~$292 Investing in organic growth $200 Selective d
Slide 12: Brand Portfolio Strength
Brand Portfolio Strength ~$43 MILLION 13 PERCENT Record First Quarter Record Operating Earnings Operating Margin $326 MILLION 27 PERCENT First Quarter Lead Brand Sales 1Q23 Sales Penetration of Total CAL 14
Slide 13: Famous Footwear Strategy and Action
Famous Footwear Strategy and Action Win With Kids Right Size Intense Focus on Expense BTS Structure Gain Wallet Investing in Share with Capabilities that Millennial Family Fuel Growth 13
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 7 CALERES, INC. Appendix RECONCILIATION OF DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) – SECOND QUARTER AND FISCAL 2023 GUIDANCE (Unaudited) Second Quarter 2023 Guidance Fiscal 2023 Guidance Low High Low Hig