Slide 1: Third Quarter 2025
THIRD QUARTER 2025 DECEMBER 9, 2025
Slide 2: Safe Harbor
SAFE HARBOR UNDER THE PRIVATE SECURITIES LITIGATION 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 uncertainties that coul
Slide 3: % = /lae
# % = /lae STUAR A WELT Z MA N E ut / Y 0 R K 4 VERONICA BEARD VINCe. DrScholls SHOES FrancoSarto Favorite Daughter LifeStride Bhwfish VN 2) (YUKO
Slide 4: Key Accomplishments
KEY ACCOMPLISHMENTS LEAD BRANDS IN TOTAL OWNED ECOMMERCE BRAND PORTFOLIO UP DOUBLE DIGITS UP DOUBLE DIGITS MARKET SHARE UP* Up 10% in North America +0.5% in Women’s Across Brand Portfolio and 12% Globally (excl. Fashion Footwear (excl. and Famous Footwear Stuart Weitzman) Stuart Weitzman) INTERNATIO
Slide 5: Caleres Overview – 3Q25
CALERES OVERVIEW – 3Q25 Including Stuart Weitzman ADJUSTED ADJUSTED EARNINGS SALES INVENTORY OPERATING MARGIN* PER SHARE* In Millions of $ In Millions of $ % of Net Sales $798 $790 $678 $762 $649 $741 $586 $556 8.8% $1.37 7.9% $1.23 7.1% $1.15 3.3% $0.38 3Q22 3Q23 3Q24 3Q25 3Q22 3Q23 3Q24 3Q25 3Q22
Slide 6: 3Q25 at a Glance (Including Stuart Weitzman)
3Q25 AT A GLANCE Including Stuart Weitzman SALES GROSS MARGIN ADJUSTED EPS $790 M 42.7 % $0.38 Up 6.6% vs 3Q24 Down 140 bps vs 3Q24 ADJUSTED OPERATING EARNINGS SG&A INVENTORY $26 M $311M 15.8 + % 3.3% of sales Up 310 bps vs 3Q24 vs 3Q24
Slide 7: 3Q25 at a Glance (Excluding Stuart Weitzman)
3Q25 AT A GLANCE Excluding Stuart Weitzman SALES GROSS MARGIN ADJUSTED EPS $744 M 42.5 % $ 0.67 Up 0.4% vs 3Q24 Down 160 bps vs 3Q24 ADJUSTED OPERATING EARNINGS SG&A INVENTORY $37 M $279 M 2.6 + % 5.0% of sales Up 120 bps vs 3Q24 vs 3Q24
Slide 8: Famous Footwear 3Q25
FAMOUS FOOTWEAR 3Q25 SALES GROSS MARGIN $419 M 41.6 % Down 2.2% vs 3Q24, with comparable Down 130 bps vs 3Q24 sales down 1.2% TOTAL KIDS ECOMMERCE SALES 25 % +11% Of total business vs 3Q24
Slide 9: Brand Portfolio 3Q25
BRAND PORTFOLIO 3Q25 SALES GROSS MARGIN $384 M 42.3 % Up 18.8% vs 3Q24 including Stuart Weitzman, Down 150 bps vs 3Q24 and up 4.6% excluding Stuart Weitzman (incl. Stuart Weitzman) LEAD BRANDS GROWTH MARKET SHARE* +12% +0.5% In organic global sales and +10% in North In Women’s Fashion Footwear vs 3Q
Slide 10: Near-Term Focuses Remain in Transition
NEAR-TERM REMAIN IN FOCUSES TRANSITION SERVICES STABILIZATION, AGREEMENT INTEGRATION, AND INVENTORY UNTIL FEBRUARY’S CLEANUP SYSTEM CUTOVER SYNERGIES EXPECTED IN 2026 DISTRIBUTION, LOGISTICS, FACILITIES, MEDIA BUYING, SPECIALTY RETAIL, AND BACK-OFFICE LEVERAGE
Slide 11: Outlook
OUTLOOK FAMOUS FOOTWEAR BRAND PORTFOLIO Q4 COMP SALES Q4 SALES FLAT-TO-UP 1% ON AN FLAT, WITH TOTAL ORGANIC BASIS SALES DOWN LOW- SINGLE DIGITS EXPECTING STUART WEITZMAN SALES TO ADD $55 - $60 MILLION Q4 SG&A FULL-YEAR EPS MODEST ORGANIC ADJUSTED DILUTED EPS INCREASE IN Q4 VS LY, OF $0.55 TO $0.60 W
Slide 12: Appendix
APPENDIX CALERES est stare
Slide 13: Reconciliation of Net Earnings and Diluted EPS to Adjusted
CALERES, INC. RECONCILIATION OF NET EARNINGS AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) AND ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE, EXCLUDING STUART WEITZMAN (NON-GAAP BASIS) (S thousands, excap
Slide 14: Summary Financial Results by Segment
CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT SUMMARY FINANCIAL RESULTS (Unaudited) Thirteen Weeks Ended Famous Footwear Brand Portfolio Eliminations and Other Consolidated November 1, ‘November 2, ‘November 1, ‘November 2, ‘November 1, ‘November 2, ‘November 1, November 2, (S thousands) 2025 2
Slide 15: Reconciliation of Adjusted Results by Segment
CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) (S thousands) Gross profit Charges/Other Items: Stuart Weitzman acquisition and integration costs Total charges/other items Adjusted gross profit Stuart Weitzman Stuart Weitzman gross profit Adjusted gro
Slide 16: Summary Financial Results by Segment (Thirty-Nine Weeks)
CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT SUMMARY FINANCIAL RESULTS (Unaudited) Thirty-Nine Weeks Ended Famous Footwear Brand Portfolio Eliminations and Other Consolidated November 1, November 2, November 1, November 2, November 1, November 2, November 1, November 2, (8 thousands) 2025 2024
Slide 17: Reconciliation of Adjusted Results by Segment (Thirty-Nine Weeks)
CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP) (S thousands) Gross profit Charges/Other Items: Stuart Weitzman acquisition and integration costs Total charges/other items Adjusted gross profit Stuart Weitzman Stuart Weitzman gross profit Adjusted gro
Slide 18: Reconciliation of Diluted EPS Guidance to Adjusted
CALERES, INC. RECONCILIATION OF DILUTED EARNINGS (LOSS) PER SHARE (GAAP BASIS) TO ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) AND ADJUSTED DILUTED EARNINGS PER SHARE, EXCLUDING STUART WEITZMAN (NON-GAAP BASIS) (Unaudited) Fiscal 2025 Guidance Low High GAAP diluted earnings (loss) per share
Slide 19: Thank You
THANK YOU 19