CLAYTON — Caleres reported the best financial year in its 144-year history in an earnings call Tuesday morning.
The shoe company's revenue for fiscal year 2022 was $2.9 billion, up 6.9% from the previous year. Gross profit increased 4.7% on the year to $1.28 billion, while earnings before income tax soared 12.6% to $213 million.
As a result, earnings per share hit a record $4.52, which president and CEO John W. (Jay) Schmidt said was more than double the pre-pandemic levels.
The surge in sales was largely due to increased consumer demand for such brands as Sam Edelman, Allen Edmonds and Naturalizer, Schmidt said.
The company expects fiscal year 2023 to reach about the same amount in sales, with earnings per share dipping to a range of $4.10 to $4.30.
This story has been updated to correct the day of the earnings call.
Brown has been part of the corporate name since the company's founding in 1878. Next month, however, that name will be dropped once shareholders approve the change on May 28. (Post-Dispatch video)
