Caleres Inc. Files 10-K for Fiscal Year Ended February 3, 2024

TL;DR

<b>Caleres Inc. (CAL) filed its 2024 10-K, detailing financial performance and business operations for the fiscal year ended February 3, 2024.</b>

AI Summary

CALERES INC (CAL) filed a Annual Report (10-K) with the SEC on April 2, 2024. Caleres Inc. filed its annual 10-K report for the fiscal year ended February 3, 2024. The filing covers the company's financial performance and business operations. Key financial data and risk factors are detailed within the report. The company was formerly known as Brown Shoe Co Inc. The filing includes information on valuation allowances, inventory reserves, and credit loss allowances.

Why It Matters

For investors and stakeholders tracking CALERES INC, this filing contains several important signals. This 10-K provides investors with a comprehensive overview of Caleres' financial health, strategic initiatives, and potential risks for the past fiscal year. Understanding the details in this filing is crucial for assessing the company's current market position and future outlook in the footwear industry.

Risk Assessment

Risk Level: medium — CALERES INC shows moderate risk based on this filing. The company's financial performance is subject to market fluctuations and consumer spending, as indicated by the detailed financial statements and risk factors in the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Caleres' performance and future prospects.

Key Numbers

• 2024-02-03 — Fiscal Year End (Conformed period of report)
• 2024-04-02 — Filing Date (Filed as of date)
• 118 — Public Document Count (Number of documents in the filing)
• 3140 — Standard Industrial Classification (SIC code for Footwear, (No Rubber))

Key Players & Entities

• CALERES INC (company) — Filer name
• Brown Shoe Co Inc (company) — Former company name
• ST LOUIS (company) — Business address city
• NY (company) — State of incorporation
• 0000014707 (company) — Central Index Key

FAQ

Industry Context

Caleres Inc. operates in the footwear industry, which is subject to consumer trends, economic conditions, and competitive pressures.

Regulatory Implications

The filing adheres to SEC regulations for annual reports, ensuring transparency and providing standardized financial information to the public.

What Investors Should Do

1. Review the consolidated financial statements for revenue, net income, and other key performance indicators.
2. Analyze the 'Risk Factors' section to understand potential challenges facing Caleres Inc.
3. Examine management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-02: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for investors to understand a company's financial health and operations for the past year.)

Fiscal Year End

The last day of a company's accounting year. (Indicates the period covered by the financial statements in the 10-K.)

Year-Over-Year Comparison

This is the initial 10-K filing provided for analysis; comparison to prior filings would require access to those documents.

Key Financial Figures

• $0.01 — egistered Common Stock — par value of $0.01 per share CAL New York Stock Exchan
• $20 — etail price points typically range from $20 for shoes to $300 for boots. We believe
• $300 — s typically range from $20 for shoes to $300 for boots. We believe we have strong re
• $59.0 million — tterns. In 2023, we spent approximately $59.0 million to advertise and market Famous Footwear
• $100 — th suggested retail prices ranging from $100 to $300. Beyond the Sam Edelman brand,
• $60 — s at suggested retail price points from $60 to $150. Sam Edelman relaunched Sam & L
• $150 — ggested retail price points from $60 to $150. Sam Edelman relaunched Sam & Libby for
• $50 — States at suggested retail prices from $50 to $110. Naturalizer : Since 1927, Nat
• $110 — at suggested retail prices from $50 to $110. Naturalizer : Since 1927, Naturalizer
• $79 — uggested retail price points range from $79 for shoes to $265 for boots. Vionic :
• $265 — rice points range from $79 for shoes to $265 for boots. Vionic : In 2018, we acquir
• $40 — for suggested retail price points from $40 for shoes to $250 for boots. Allen Edm
• $250 — tail price points from $40 for shoes to $250 for boots. Allen Edmonds : In 2016, we
• $245 — uggested retail price points range from $245 for shoes to $950 for boots. Dr. Schol
• $950 — ice points range from $245 for shoes to $950 for boots. Dr. Scholl's Shoes : Inspir

Filing Documents

• cal-20240203x10k.htm (10-K) — 4321KB
• cal-20240203xex10d3f.htm (EX-10.3F) — 40KB
• cal-20240203xex10d3g.htm (EX-10.3G) — 34KB
• cal-20240203xex21.htm (EX-21) — 29KB
• cal-20240203xex23.htm (EX-23) — 18KB
• cal-20240203xex31d1.htm (EX-31.1) — 11KB
• cal-20240203xex31d2.htm (EX-31.2) — 12KB
• cal-20240203xex32d1.htm (EX-32.1) — 11KB
• cal-20240203xex97d1.htm (EX-97.1) — 48KB
• cal-20240203x10k003.jpg (GRAPHIC) — 49KB
• 0000014707-24-000012.txt (&nbsp;) — 19189KB
• cal-20240203.xsd (EX-101.SCH) — 96KB
• cal-20240203_cal.xml (EX-101.CAL) — 109KB
• cal-20240203_def.xml (EX-101.DEF) — 442KB
• cal-20240203_lab.xml (EX-101.LAB) — 864KB
• cal-20240203_pre.xml (EX-101.PRE) — 712KB
• cal-20240203x10k_htm.xml (XML) — 4454KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 12 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2

Properties

Properties 22 Item 3

Legal Proceedings

Legal Proceedings 23 Item 4 Mine Safety Disclosures 23 PART II 23 Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23 Item 6 Reserved 24 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 36 Management's Report on Internal Control Over Financial Reporting 36 Report of Independent Registered Public Accounting Firm (PCAOB ID: 42 ) 38 Report of Independent Registered Public Accounting Firm (PCAOB ID: 42) 39 Consolidated Balance Sheets 41 Consolidated Statements of Earnings 42 Consolidated Statements of Comprehensive Income 43 Consolidated Statements of Cash Flows 44 Consolidated Statements of Shareholders' Equity 45

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 46 Schedule II – Valuation and Qualifying Accounts 84 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 84 Item 9A

Controls and Procedures

Controls and Procedures 84 Evaluation of Disclosure Controls and Procedures 84 Internal Control Over Financial Reporting 85 Item 9B Other Information 85 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 85 PART III 85 Item 10 Directors, Executive Officers and Corporate Governance 85 Item 11

Executive Compensation

Executive Compensation 86 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 86 Item 13 Certain Relationships and Related Transactions, and Director Independence 87 Item 14 Principal Accountant Fees and Services 87 PART IV 87 Item 15 Exhibits and Financial Statement Schedules 87 Item 16 Form 10-K Summary 90 3 Table of Contents PART I

BUSINESS

ITEM 1 BUSINESS Caleres, Inc. (the "Company"), originally founded as Brown Shoe Company in 1878 and incorporated in 1913, is a global footwear company that operates retail shoe stores and e-commerce websites, and designs, develops, sources, manufactures and distributes footwear for people of all ages. Our mission is to inspire people to feel great...feet first. We meet consumers where they want to shop, whether in-store or online. We employ our "One Caleres" capabilities – design, sourcing, speed and marketing, working in unison to accelerate growth. The Company's business operations are organized into two reportable segments—Famous Footwear and Brand Portfolio. The Famous Footwear segment is comprised of our Famous Footwear retail stores, famousfootwear.com and famousfootwear.ca. The Famous Footwear segment operated 860 stores at the end of 2023, selling primarily branded footwear for the entire family. The Brand Portfolio segment offers retailers and consumers a carefully cultivated portfolio of leading brands. This segment is comprised of wholesale operations that designs, develops, sources, manufactures, markets and distributes branded, licensed and private-label footwear primarily to online retailers, national chains, department stores, independent retailers and mass merchandisers, as well as Company-owned Famous Footwear, Sam Edelman, Naturalizer and Allen Edmonds stores and e-commerce businesses. It also includes the Sam Edelman, Naturalizer and Allen Edmonds retail stores, including 62 stores in the United States and 36 stores in East Asia at the end of 2023, and the e-commerce businesses for our Company-owned brands. Our net sales are comprised of four major categories: women's footwear, men's footwear, children's footwear and clothing and accessories. The percentage of net sales attributable to each category is as follows: 2023 2022 2021 Women's footwear 61 % 61 % 59 % Men's footwear 21 % 22 % 24 % Children's footwear 12 % 1