Slide 1: Third Quarter 2023
T H I R D Q U A R T ER 2 0 2 3 / / N o v e m b e r 2 1 , 2 0 2 3 Famous Footwear | Sam Edelman | Allen Edmonds | Naturalizer | Vionic | Dr Scholls | Franco Sarto | LifeStride | Veronica Beard | Vince | Blowfish | Rykä
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: Famous Footwear: Lead Brands, Portfolio Brands
FAMOUS FOOTWEAR LEAD BRANDS PORTFOLIO BRANDS 3
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 T H R E E -Y E A R PLAN TARGETS* POSITIONED TO DRIVE L O N G -T E R M SHAREHOLDER VALUE 3 -5 % % Revenue Growth CAGR Merchant driven organization with powerful brand assets 11 - 13 % % Exceptional capabilities in sourcing & logistics, digital, marketing and analytics
Slide 5: Caleres in Brief – 3Q23
CALERES IN BRIEF–3Q23 SALES ADJUSTED ADJUSTED INVENTORY in millions of $ OPERATING MARGIN EARNINGS PER SHARE in millions of $ % of net sales $792 $798 $784 $762 $645 $649 $556 $1.59 $543 $1.37 10.4% $1.15 8.8% 7.1% $0.78 5.6% 3Q19 3Q21 3Q22 3Q23 3Q19 3Q21 3Q22 3Q23 3Q19 3Q21 3Q22 3Q23 3Q19 3Q21 3Q22
Slide 6: Third Quarter 2023 Accomplishments
Third 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 44.7% $81MM $1.37 Exceeding top end of guidance Includes record 3Q gross margin at 10.6% of net sales Brand Portfolio range and 19 percent higher than 3Q22 DEBT REDUCTION I N V E N TO RY C AS H F
Slide 7: Caleres Updates Full Year 2023 Outlook
C A L E R E S U P DAT E S F U L L YEAR 2023 OUTLOOK Consolidated sales down 4.5% to 5.5% (including the 53rd week) Diluted earnings per share of $3.96 to $4.06 Adjusted diluted earnings per share of $4.10 to $4.20 Consolidated operating margin of 7.3% to 7.5% Interest expense of about $18 million Ef
Slide 8: Brand Portfolio Q3 Accomplishments
B ra n d Po rt f o l i o 3 Q 2 3 Accomplishments S AL E S G R O S S M AR G I N ~$321MM 43.7% Down 0.8%, Up 580-basis vs. Sequential improvement 3Q22 Gained market share in Women’s Fashion Footwear AD J U S T E D O P E R AT I N G AD J U S T E D O P E R AT I N G E AR N I N G S M AR G I N $39MM 12.2% R
Slide 9: Famous Footwear Q3 Accomplishments
Fa m o u s Fo o t w ea r 3 Q 2 3 Accomplishments S AL E S G R O S S M AR G I N ~$450MM 44.2% Down 6.7% vs. 3Q22, down 50 bps vs. Gained market share in 3Q22 shoe chains AD J U S T E D O P E R AT I N G KIDS BUSINESS M AR G I N ~11% +4% down 190 bps Significantly outpaced total business and grew marke
Slide 10: Caleres has made significant progress on reducing its overall debt level
Caleres has made significant progress on reducing its overall debt level in recent years CALERES DEBT PROFILE in millions of dollars $600 T H R E E -Y E A R $500 PLAN TARGETS $400 < $100M in total debt $300 $222 0.9x $200 < 0.5x Debt / EBITDA <$100 0.5x Ratio $100 $0 2019 2020 2021 2022 3Q23 2026 Lo
Slide 11: Caleres constantly evaluates the most value-enhancing avenue for its free cash flow
Caleres constantly evaluates the most value-enhancing avenue for its free cash flow Invest for Organic Make targeted investments in brands and capabilities with the greatest opportunity for Growth profitable growth Pay Dividend Continue to fund our long-standing dividend Priority Level Debt Reductio
Slide 12: Appendix
T H I R D Q U A R T ER 2 0 2 3 / / N o v e m b e r 2 1 , 2 0 2 3 Appendix Famous Footwear | Sam Edelman | Allen Edmonds | Naturalizer | Vionic | Dr Scholls | Franco Sarto | LifeStride | Veronica Beard | Vince | Blowfish | Rykä
Slide 13: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 4 CALERES, INC. RECONCILIATION OF NET EARNINGS (LOSS) AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) Thirty-Nine Weeks Ended October 28, 2023 October 29, 2022 (Unaudited) Thirteen
Slide 14: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 5 SCHEDULE 5 CALERES, INC. CALERES, INC. SUMMARY FINANCIAL RESULTS BY SEGMENT SUMMARY FINANCIAL RESULTS BY SEGMENT SUMMARY FINANCIAL RESULTS SUMMARY FINANCIAL RESULTS (Unaudited) (Unaudited) Thirteen Weeks Ended Thirty-Nine Weeks Ended Famous Footwear Brand P
Slide 15: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 8 CALERES, INC. CALCULATION OF EBITDA AND DEBT/EBITDA LEVERAGE RATIO (NON-GAAP METRICS) (Unaudited) Thirteen Weeks Ended ($ thousands) October 28, 2023 October 29, 2022 EBITDA: Net earnings attributable to Caleres, Inc. $ 46,914 $ 39,246 Income tax provision
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation SCHEDULE 9 CALERES, INC. RECONCILIATION OF DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) – FISCAL 2023 GUIDANCE Fiscal 2023 Guidance Low High GAAP diluted earnings per share $ 3.96 $ 4.06 Charges/other items: Expense r