Caleres Updates Strategic Growth Plan and Financial Targets
02 Oktober 2019 - 01:55PM
Business Wire
Caleres (NYSE: CAL), (caleres.com), a diverse portfolio of
global footwear brands, is hosting today an Investor Day in New
York City. Senior leaders of the company will discuss the company’s
strategy to thrive in today’s dynamic global footwear market and
deliver consistent, profitable and sustainable long-term growth to
the benefit of its consumers, customers, employees and
shareholders.
“We are focused on building on the progress we have made over
the last several years to position our portfolio to capture rapidly
changing consumer preferences and enhance our capabilities to
better service our customers,” said Diane Sullivan, CEO, President
and Chairman of Caleres. “Focused investment in our core competency
as builders of loved and trusted footwear brands will allow us to
extend the reach of our powerful portfolio no matter where our
consumers choose to purchase our products. We are confident that
this will create consistent sales and earnings growth and create
value for all our stakeholders.”
A Clear Strategy to Win
Caleres is announcing a new long-term strategic plan to build on
its unique advantages and capture share in the global footwear
market by focusing on the following three key areas:
- Broaden Reach and Power of Brands and
Products. Caleres is continuously cultivating the
Company’s consumer-focused brands and products to maintain
consistency of results and maximize profitability across the
portfolio.
- Strengthen Connections with
Consumers. Caleres is strengthening its data-driven
analytical capabilities and leveraging the Company’s marketing
expertise to deepen its brands’ emotional connections with
consumers and enhance their market position.
- Accelerate Innovation of Capabilities
and Operations. Caleres is enabling speed, agility and
efficiency of scale to ensure that the Company moves quickly to
respond to rapidly changing preferences and maximize consumer
fulfillment capabilities.
2022 Financial Plan
In support of the new strategic plan, the company is introducing
2022 financial targets including:
- Revenue: Low single-digit compound annual growth rate
(CAGR) through 2022;
- Earnings per share: Double-digit CAGR through 2022;
and
- Return on invested capital: Greater than 15% through
2022.
Investor Day Details
The meeting with investors is being webcast live via
http://investor.caleres.com/news/events from approximately 8:30
a.m. to 2:30 p.m. (ET). The dial-in number is (877) 217-9089 (North
America) or (706) 679-1723 (international), with conference ID
6194268. The archived webcast will be available online for a
limited period at https://investor.caleres.com/news/events/archive.
A dial-in replay of the event will be available through Oct. 8,
2019 by calling (855) 859-2056 (North America) or (404) 537-3406
(international), with conference ID 6194268.
Non-GAAP Financial Measures
In this press release, the company’s financial results are
provided both in accordance with generally accepted accounting
principles (GAAP) and using certain non-GAAP financial measures. In
particular, the company provides estimated future adjusted EBITDA
margin which may reflect certain gains, charges and recoveries,
which are non-GAAP financial measures. These results are included
as a complement to results provided in accordance with GAAP because
management believes these non-GAAP financial measures help identify
underlying trends in the company’s business and provide useful
information to both management and investors by excluding certain
items that may not be indicative of the company’s core operating
results. These measures should not be considered a substitute for
or superior to GAAP results.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This press release 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 could cause actual results to differ
materially. These risks include (i) changing consumer demands,
which may be influenced by consumers' disposable income, which in
turn can be influenced by general economic conditions and other
factors; (ii) rapidly changing fashion trends and consumer
preferences and purchasing patterns; (iii) intense competition
within the footwear industry; (iv) political and economic
conditions or other threats to the continued and uninterrupted flow
of inventory from China and other countries, where the Company
relies heavily on third-party manufacturing facilities for a
significant amount of its inventory; (v) imposition of tariffs;
(vi) the ability to accurately forecast sales and manage inventory
levels; (vii) cybersecurity threats or other major disruption to
the Company’s information technology systems; (viii) customer
concentration and increased consolidation in the retail industry;
(ix) transitional challenges with acquisitions; (x) a disruption in
the Company’s distribution centers; (xi) foreign currency
fluctuations; (xii) changes to tax laws, policies and treaties;
(xiii) the ability to recruit and retain senior management and
other key associates; (xiv) compliance with applicable laws and
standards with respect to labor, trade and product safety issues;
(xv) the ability to secure/exit leases on favorable terms; (xvi)
the ability to maintain relationships with current suppliers; and
(xvii) the ability to attract, retain, and maintain good
relationships with licensors and protect our intellectual property
rights. The company's reports to the Securities and Exchange
Commission contain detailed information relating to such factors,
including, without limitation, the information under the caption
Risk Factors in Item 1A of the company’s Annual Report on Form 10-K
for the year ended February 2, 2019, which information is
incorporated by reference herein and updated by the company’s
Quarterly Reports on Form 10-Q. The company does not undertake any
obligation or plan to update these forward-looking statements, even
though its situation may change.
About Caleres
Caleres is the home of today’s most coveted footwear brands and
represents a diverse portfolio spanning all of life’s styles and
experiences. Every shoe tells a story and Caleres has the perfect
fit for every one of them. Our collections have been developed and
acquired to meet the evolving needs of today’s assorted and growing
global audiences, with consumer insights driving every aspect of
the innovation, design, and craft that go into our distinctly
positioned brands, including Famous Footwear, Sam Edelman,
Naturalizer, Allen Edmonds, Vionic, Dr. Scholl’s Shoes, Franco
Sarto, and more. The Caleres story is most simply defined by the
company’s mission: Inspire people to feel great…feet first.
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version on businesswire.com: https://www.businesswire.com/news/home/20191002005469/en/
Ken Hannah khannah@caleres.com Jo Ann Stoda
jstoda@caleres.com
Caleres (NYSE:CAL)
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