Slide 1: Second Quarter 2023
Second Quarter 2023 August 31, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement 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
Slide 3: Caleres is uniquely positioned to deliver shareholder value
Caleres is uniquely positioned to deliver shareholder value Delivered second quarter adjusted earnings per share in excess of the high end of guidance, despite a challenging consumer environment Reiterates full year sales and adjusted earnings per share outlook Powerful portfolio of diversified bran
Slide 4: Caleres in Brief – Second Quarter 2023
Caleres in Brief – Second Quarter 2023 SALES O P E R AT I N G M A R G I N ADJUSTED EARNINGS I N V E N TO RY in millions of $ in millions of $ % of net sales PER SHARE $752 $792 $738 $771 $696 $676 $661 $566 $1.38 $1.19 9.3% 9.3% $0.98 7.1% 5.0% $0.62 2Q19 2Q21 2Q22 2Q23 2Q19 2Q21 2Q22 2Q23 2Q19 2Q21
Slide 5: Second Quarter 2023 Accomplishments
Second Quarter 2023 Accomplishments G R O S S M AR G I N AD J U S T E D E B I T D A AD J U S T E D E P S 45.2% $65.3 $0.98 in excess of the high end of the includes record second quarter gross million, or 9.4% of net sales margin at Brand Portfolio guidance range DEBT REDUCTION I N V E N TO RY C AS
Slide 6: Reiterates Fiscal 2023 Outlook
Reiterates 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 exp
Slide 7: Third Quarter 2023 Outlook
Third Quarter 2023 Outlook Consolidated net sales down low single-digits, compared to third quarter 2022 Diluted earnings per share of $1.25 to $1.30 Adjusted diluted earnings per share of $1.30 to $1.35 7
Slide 8: Brand Portfolio 2Q Accomplishments
Brand Portfolio 2Q Accomplishments ~$27 MILLION 41 PERCENT Second Quarter Record Second Operating Earnings Quarter Gross Margin Captured market 8 PERCENT share in Lead Brands Increase in the – Sam Edelman, Allen segment’s ecommerce Edmonds, Naturalizer business, with strong and Vionic performance fr
Slide 9: Famous Footwear 2Q Accomplishments
Famous Footwear 2Q Accomplishments Sequential improvement in +5 Percent quarterly sales and Growth in strengthening year-over-year monthly sales trends Kids business Gained market share ~10 Percent in the shoe chain Return on Sales channel 9
Slide 10: 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 CALERES DEBT PROFILE in millions of dollars C AL I S C O M M I T T E D T O A F L E X I B L E AP P R O AC H $500 T O C AP I TAL AL L O C AT I O N I N C L U D I N G : $400 $300 $244 Investing in organic growth $200 $10
Slide 11: Caleres Capabilities
Caleres Capabilities DESIGN & E D I T TO W I N D I G I TAL I N N O VAT I O N AN ALY T I C S SOURCING & M AR K E T I N G LOGISTICS 11
Slide 12: Appendix
CALER EST + 1878 Appendix
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 4 Appendix CALERES, INC. RECONCILIATION OF NET EARNINGS (LOSS) AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) (Unaudited) Thirteen Weeks Ended July 29, 2023 July 30, 2022 Pre-Tax N
Slide 14: GAAP to Non-GAAP Reconciliation – Summary Financial Results by Segment
GAAP to Non-GAAP Reconciliation SCHEDULE 5 CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT Appendix SUMMARY FINANCIAL RESULTS (Unaudited) Thirteen Weeks Ended Famous Footwear Brand Portfolio Eliminations and Other Consolidated July 29, July 30, July 29, July 30, July 29, July 30, July 29, July 30
Slide 15: GAAP to Non-GAAP Reconciliation – EBITDA and Debt/EBITDA
GAAP to Non-GAAP Reconciliation SCHEDULE 8 CALERES, INC. Appendix CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) (Unaudited) (Unaudited) Trailing Twelve Months Ended Thirteen Weeks Ended ($ thousands) July 29, 2023 July 30, 2022 ($ thousands) July 29, 2023 July 30, 2022 EBIT
Slide 16: GAAP to Non-GAAP Reconciliation – Guidance
GAAP to Non-GAAP Reconciliation SCHEDULE 9 CALERES, INC. Appendix RECONCILIATION OF DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) – THIRD QUARTER AND FISCAL 2023 GUIDANCE (Unaudited) Third Quarter 2023 Guidance Fiscal 2023 Guidance Low High Low High