Slide 1: First Quarter 2024
FIRST QUARTER 2024 May 30, 2024 1
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: Brand logos
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Slide 4: Caleres is uniquely positioned to drive long-term shareholder value
C A L E R E S I S U N I Q U E LY P O S I T I O N E D TO D R I V E LO N G -T E R M S H A R E H O L D E R VA LU E T H R E E -Y E A R P L A N T A R G E T S * Merchant driven organization with powerful 3 -5 % % brand assets Exceptional capabilities in sourcing and logistics, digital, marketing and analy
Slide 5: Caleres in Brief – 1Q 24
CALERES IN BRIEF–1Q 24 SALES O P E R AT I N G M A R G I N EARNINGS PER SHARE INVENTORY in Millions of $ % of Net Sales in Millions of $ $735 $677 $663 $659 $639 $648 644 $560 $531 $1.32 9.0% $445 $0.97 $0.88 7.5% 6.5% 2.5% 2.8% $0.22 $0.16 1Q19 1Q21 1Q22 1Q23 1Q24 1Q19 1Q21 1Q22 1Q23 1Q24 1Q19 1Q21
Slide 6: First Quarter 2024 Accomplishments
FIRST QUARTER 2024 ACCOMPLISHMENTS GROSS MARGIN EBITDA EPS 46.9 % ~$57M $0.88 A first quarter record, including 46.6% in 8.7% of net sales Exceeded expectations Brand Portfolio and 46.1% in Famous MARKET SHARE INVENTORY R E VO LV E R B O R R O W I N G S 6.0 % Caleres share of the footwear market -5.
Slide 7: Brand Portfolio 1Q 24
BRAND PORTFOLIO 1Q 24 SALES GROSS MARGIN ~ 317M $ Down 2.6%, 46.6 % Up 240-basis points Gained market share vs.1Q 23 i n Wo m e n ’s Fa s h i o n Fo o t w e a r Lead Brands were 60% of segment sales Owned ecommerce up 9% O P E R AT I N G E A R N I N G S O P E R AT I N G M A R G I N ~$41M 13.1 % Repr
Slide 8: Famous Footwear 1Q 24
FA M O U S F O OT W E A R 1 Q 2 4 SALES GROSS MARGIN ~ 350M $ 46.1 % Flat vs. 1Q 23, Up 48 bps vs. Gained market share in shoe chains 1Q 23 Ecommerce up 11% vs. 1Q 23 O P E R AT I N G M A R G I N K I D S C AT E G O R Y 4.8 % +8 % Down 6 bps vs. 1Q 23 Increase in Kids sales vs. 1Q 23, Gained market s
Slide 9: Investing in Customer Experience
I NVESTI NG I N CU STOMER EX PER I ENCE Converted 10 stores to FLAIR concept in 1Q 24 bringing our total FLAIR store count to 31 Customer engagement metrics from those shopping FLAIR stores continue to outpace, including retention, omni penetration and CLV An additional 12 FLAIR and 21 small format
Slide 10: Full Year 2024 and Second Quarter Outlook
FULL YEAR SECOND QUARTER 2 0 2 4 O U T LO O K 2 0 2 4 O U T LO O K Consolidated Sales Flat to up 2% Consolidated Sales up 3% to 4%. (compared to 2023, which includes a 53rd week) This includes an estimated $20 to $25 million benefit in Famous as a result of the calendar shift of an important Excludi
Slide 11: Debt Reduction
DEBT REDUCTION CALERES HAS $600 S I G N I F I C A N T LY REDUCED ITS $500 OVERALL DEBT OVER THE LAST $400 SEVERAL YEARS $300 Debt reduction remains $191 a priority ~0.8x $200 Three-year plan targets: <$100 0.5x $100 < $100M in total debt < 0.5x debt/EBITDA ratio $0 2019 2020 2021 2022 2023 1Q24 2026
Slide 12: Capital Allocation Priorities
C A P I TA L A L LO C AT I O N P R I O R I T I E S Make targeted investments in brands and INVEST FOR ORGANIC GROWTH capabilities with the greatest opportunity for profitable growth CALERES PAY D I V I D E N D Continue to fund our long-standing dividend Priority Level C O N S T A N T LY E VA LU AT E
Slide 13: Caleres Full Year 2024 and First Quarter 2024 Outlook Key Priorities
CALERES FULL YEAR 2024 AND FIRST QUARTER 2024 OUTLOOK FULL YEAR 2024 FIRST QUARTER 2024 KEY PRIORITIES C O N S O L I DAT E D S A L E S U P X % TO X % Fo CONSOLID A rT E2 D 0 2S4A L E S U P X % T O X % EARNINGS PER DILUTED SHARE OF $X EARNINGS PER DILUTED SHARE OF $X TO $X TO $X DIRECT ENHANCED A DJ
Slide 14: Appendix
APPENDIX May 30, 2024 14
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 6 CALERES, INC. CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) (Unaudited) Thirteen Weeks Ended ($ thousands) May 4, 2024 April 29, 2023 EBITDA: Net earnings attributable to Caleres, Inc. $ 30,939 $ 34,727 Income tax provision 9,174 1