Caleres Brands Post Improved Results; Most Naturalizer Stores Being Shuttered
Vionic’s e-commerce sales rose more than 50 percent in the third quarter for Caleres, which saw its wellness and comfort footwear brands continue to perform well. Wellness/Comfort labels represented 55 percent of Caleres’ Brand Portfolio sales in the period versus 47 percent in the year-ago period.
Overall, Brand Portfolio sales fell 26 percent in the third quarter year-over-year but were 45 percent higher from the second quarter as they posted a positive operating profit of $7.3 million. Parent attributed the stronger results to positive consumer reaction to its athletic sport and casual products, including improved performances from the Vionic, Sam Edelman, Ryka, Blowfish and Vince, especially the latter’s fuzzy styles that include a shearling slipper.
In a separate development, Caleres has decided to close all but two Naturalizer brand retail stores in the U.S. and Canada. One of the remaining doors will be in New York City. The closures should be completed by year-end with the parent projecting the retail exit to generate $10-12 million in annualized savings.