Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Aug. 01, 2015 | Aug. 28, 2015 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | CALERES INC | |
Entity Central Index Key | 14,707 | |
Current Fiscal Year End Date | --01-30 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Aug. 1, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 43,711,795 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 01, 2015 | Jan. 31, 2015 | Aug. 02, 2014 |
Current assets | |||
Cash and cash equivalents | $ 129,345 | $ 67,403 | $ 46,876 |
Restricted cash | 41,482 | ||
Receivables, net | 144,213 | 136,646 | 125,484 |
Inventories, net | 641,128 | 543,103 | 657,656 |
Prepaid expenses and other current assets | 41,002 | 43,744 | 39,167 |
Total current assets | 997,170 | 790,896 | 869,183 |
Other assets | 146,727 | 141,586 | 134,779 |
Goodwill | 13,954 | 13,954 | 13,954 |
Intangible assets, net | 118,783 | 120,633 | 122,808 |
Property and equipment | 444,674 | 438,696 | 437,364 |
Allowance for depreciation | (293,835) | (288,953) | (289,006) |
Net property and equipment | 150,839 | 149,743 | 148,358 |
Total assets | 1,427,473 | 1,216,812 | 1,289,082 |
Current liabilities | |||
Current portion of long-term debt | 39,157 | ||
Trade accounts payable | 382,626 | 215,921 | 341,694 |
Other accrued expenses | 156,106 | 181,162 | 159,152 |
Total current liabilities | 577,889 | 397,083 | 500,846 |
Other liabilities | |||
Long-term debt | 200,000 | 199,197 | 199,104 |
Deferred rent | 40,981 | 39,742 | 36,560 |
Other liabilities | 39,375 | 39,168 | 43,320 |
Total other liabilities | 280,356 | 278,107 | 278,984 |
Equity | |||
Common stock | 437 | 437 | 437 |
Additional paid-in capital | 136,127 | 138,957 | 135,930 |
Accumulated other comprehensive income | 3,027 | 2,712 | 16,641 |
Retained earnings | 428,754 | 398,804 | 355,574 |
Total Caleres, Inc. shareholders’ equity | 568,345 | 540,910 | 508,582 |
Noncontrolling interests | 883 | 712 | 670 |
Total equity | 569,228 | 541,622 | 509,252 |
Total liabilities and equity | $ 1,427,473 | $ 1,216,812 | $ 1,289,082 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Earnings - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Income Statement [Abstract] | ||||
Net sales | $ 637,834 | $ 635,877 | $ 1,240,117 | $ 1,227,039 |
Cost of goods sold | 375,039 | 376,235 | 728,796 | 725,056 |
Gross profit | 262,795 | 259,642 | 511,321 | 501,983 |
Selling and administrative expenses | 227,061 | 228,340 | 445,251 | 441,955 |
Operating earnings | 35,734 | 31,302 | 66,070 | 60,028 |
Interest expense | (4,345) | (5,125) | (8,808) | (10,431) |
Loss on early extinguishment of debt | (8,690) | (8,690) | ||
Interest income | 238 | 109 | 542 | 185 |
Earnings before income taxes | 22,937 | 26,286 | 49,114 | 49,782 |
Income tax provision | (6,074) | (8,247) | (12,860) | (16,267) |
Net earnings | 16,863 | 18,039 | 36,254 | 33,515 |
Net earnings attributable to noncontrolling interests | 38 | (25) | 168 | 22 |
Net earnings attributable to Caleres, Inc. | $ 16,825 | $ 18,064 | $ 36,086 | $ 33,493 |
Basic earnings (loss) per common share: | ||||
Basic earnings per common share attributable to Caleres, Inc. shareholders | $ 0.38 | $ 0.41 | $ 0.82 | $ 0.77 |
Diluted earnings (loss) per common share: | ||||
Diluted earnings per common share attributable to Caleres, Inc. shareholders | 0.38 | 0.41 | 0.82 | 0.76 |
Dividends per common share | $ 0.07 | $ 0.07 | $ 0.14 | $ 0.14 |
Condensed Consolidated Stateme4
Condensed Consolidated Statement Of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 16,863 | $ 18,039 | $ 36,254 | $ 33,515 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustment | (949) | 244 | 443 | 1,131 |
Pension and other postretirement benefits adjustments | (243) | (33) | (458) | (56) |
Derivative financial instruments | 547 | (723) | 330 | (1,110) |
Other comprehensive income, net of tax | (512) | (35) | ||
Other Comprehensive Income (Loss), Net of Tax | (645) | (512) | 315 | (35) |
Comprehensive income | 16,218 | 17,527 | 36,569 | 33,480 |
Comprehensive income attributable to noncontrolling interests | 37 | (28) | 171 | 7 |
Comprehensive income attributable to Caleres, Inc. | $ 16,181 | $ 17,555 | $ 36,398 | $ 33,473 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 01, 2015 | Aug. 02, 2014 | |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ||
Net earnings | $ 36,254 | $ 33,515 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation | 17,500 | 17,162 |
Amortization of capitalized software | 6,140 | 6,392 |
Amortization of intangible assets | 1,850 | 1,976 |
Amortization of debt issuance costs and debt discount | 617 | 1,257 |
Loss on early extinguishment of debt | 8,690 | |
Share-based compensation expense | 3,680 | 2,961 |
Tax benefit related to share-based plans | (2,838) | (2,097) |
Loss on disposal of facilities and equipment | (1,897) | 772 |
Impairment charges for facilities and equipment | 857 | 725 |
Deferred rent | 1,239 | (2,033) |
Provision for doubtful accounts | 100 | 48 |
Changes in operating assets and liabilities, net of dispositions: | ||
Receivables | (7,668) | 3,655 |
Inventories | (98,445) | (109,619) |
Prepaid expenses and other current and noncurrent assets | (11,633) | (2,845) |
Trade accounts payable | 166,786 | 114,874 |
Accrued expenses and other liabilities | (21,952) | 1,696 |
Other, net | 1,975 | (1,948) |
Net cash provided by operating activities | 101,255 | 66,491 |
Investing Activities | ||
Purchases of property and equipment | (24,872) | (23,511) |
Capitalized software | (2,698) | (2,714) |
Acquisition of trademarks | 0 | (65,065) |
Net cash used for investing activities | (20,459) | (91,290) |
Financing Activities | ||
Borrowings under revolving credit agreement | 86,000 | 456,000 |
Repayments under revolving credit agreement | (86,000) | (463,000) |
Proceeds from issuance of 2023 senior notes | 200,000 | |
Redemption of 2019 senior notes | (160,700) | |
Restricted cash | (41,482) | |
Debt issuance costs | (3,650) | |
Dividends paid | (6,135) | (6,110) |
Acquisition of treasury stock | 4,921 | |
Issuance of common stock under share-based plans, net | (4,428) | (523) |
Tax benefit related to share-based plans | 2,838 | 2,097 |
Net cash used for financing activities | (18,478) | (11,536) |
Effect of exchange rate changes on cash and cash equivalents | (376) | 665 |
Decrease in cash and cash equivalents | 61,942 | (35,670) |
Cash and cash equivalents at beginning of period | 67,403 | 82,546 |
Cash and cash equivalents at end of period | $ 129,345 | $ 46,876 |
Basis Of Presentation
Basis Of Presentation | 6 Months Ended |
Aug. 01, 2015 | |
Accounting Policies [Abstract] | |
Basis Of Presentation | Note 1 Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the United States Securities and Exchange Commission (“SEC”) and reflect all adjustments and accruals of a normal recurring nature, which management believes are necessary to present fairly the financial position, results of operations, comprehensive income and cash flows of Caleres, Inc. These statements, however, do not include all information and footnotes necessary for a complete presentation of the Company's consolidated financial position, results of operations, comprehensive income and cash flows in conformity with accounting principles generally accepted in the United States. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries, after the elimination of intercompany accounts and transactions. The Company’s business is seasonal in nature due to consumer spending patterns, with higher back-to-school and Christmas holiday season sales. Traditionally, the third fiscal quarter accounts for a substantial portion of the Company’s earnings for the year. Interim results may not necessarily be indicative of results which may be expected for any other interim period or for the year as a whole. Certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications did not affect net earnings attributable to Caleres, Inc. For further information, refer to the consolidated financial statements and footnotes included in the Company's Annual Report on Form 10-K for the year ended January 31, 2015 . |
Impact Of New Accounting Pronou
Impact Of New Accounting Pronouncements | 6 Months Ended |
Aug. 01, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Impact Of New Accounting Pronouncements | Note 2 Impact of New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, Revenue Recognition. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized, based upon the core principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB subsequently issued ASU 2015-14, Revenue from Contracts with Customers - Deferral of the Effective Date , that approved a one year deferral of ASU 2014-09 for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is currently evaluating the impact of the adoption of this ASU on its condensed consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented as a direct deduction from the associated debt liability in the balance sheet, consistent with the presentation of debt discounts. The amortization of debt issuance costs will continue to be reported as interest expense in the statement of earnings. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03. The ASU, which is to be applied on a retrospective basis and reported as a change in accounting principle, is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 will not affect the Company’s results of operations or cash flows, but it will require the Company to reclassify its deferred financing costs from other assets to borrowings under revolving credit agreement and long-term debt on a retrospective basis upon adoption in the first quarter of fiscal 2016. The Company's condensed consolidated balance sheets included deferred financing costs of $7.6 million , $5.3 million and $6.4 million as of August 1, 2015 , August 2, 2014 and January 31, 2015 , respectively, that will be subject to the ASU. In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share (or its Equivalent) . ASU 2015-07 removes the requirement to categorize within the fair value hierarchy investments for which fair values are estimated using the net asset value practical expedient provided by ASC 820, Fair Value Measurement . Disclosures about investments in certain entities that calculate net asset value per share are limited under ASU 2015-07 to those investments for which the entity has elected to estimate the fair value using the net asset value practical expedient. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with retrospective application to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this ASU on its condensed consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory, which requires entities to measure inventory at "the lower of cost and net realizable value", simplifying the current guidance under which entities must measure inventory at the lower of cost or market. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured using LIFO. The ASU is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this ASU on its condensed consolidated financial statements. |
Dispositions
Dispositions | 6 Months Ended |
Aug. 01, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Note 3 Dispositions On December 12, 2014, Caleres Investment Company, Inc. ("CIC") (formerly known as Brown Shoe Investment Company, Inc.), the sole shareholder of Shoes.com, Inc. ("Shoes.com"), simultaneously entered into and closed a Stock Purchase Agreement by and among CIC and an affiliate of ShoeMe Technologies Limited ("the Purchaser"), pursuant to which the Purchaser acquired all of the outstanding capital stock, inventory and other assets of Shoes.com from CIC and the Company agreed to provide certain transition services. The aggregate purchase price of the sale was $15.0 million , subject to working capital and other adjustments. The Company received $4.4 million in cash and a $7.5 million face value secured convertible note ("convertible note") at closing, from the sale of stock, the sale of inventory and other assets, and the provision of transitional services, less working capital adjustments. The convertible note requires installments over four years with the first payment of $1.25 million due on July 1, 2017 and quarterly installments of $0.6 million thereafter, plus accrued interest, until it matures on December 12, 2019. Interest accrues at an annual rate of 6% until December 11, 2016, 7% until December 11, 2017, 8% until December 11, 2018, and 9% until the maturity date. The principal and outstanding accrued interest is convertible into common stock of the Purchaser at a conversion price of CAD 21.50 per share, at the Company's option, or automatically upon a qualified initial public offering ("IPO") by the Purchaser at the IPO price. The fair value of the convertible note of $7.1 million at August 1, 2015 is included in other assets on the condensed consolidated balance sheets. Interest income of $0.1 million and $0.2 million for the thirteen weeks and twenty-six weeks ended August 1, 2015 , respectively, is included in interest income on the condensed consolidated statements of earnings. The operating results of Shoes.com were included in the Famous Footwear segment in continuing operations through December 12, 2014. The operations of Shoes.com were not significant to the Famous Footwear segment or the Company's financial results. In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which the Company adopted during the third quarter of 2014, the financial position and operating results of Shoes.com were not classified as a discontinued operation as the disposition did not represent a strategic shift resulting in a major impact on the Company's operations or financial results. During the thirteen weeks ended August 1, 2015 , the Company recognized a discrete tax benefit of $1.2 million related to the disposition of Shoes.com. Refer to Note 13 to the condensed consolidated financial statements for further information. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Aug. 01, 2015 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | Note 4 Earnings Per Share The Company uses the two-class method to compute basic and diluted earnings per common share attributable to Caleres, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of the Company. The following table sets forth the computation of basic and diluted earnings per common share attributable to Caleres, Inc. shareholders for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended Twenty-six Weeks Ended ($ thousands, except per share amounts) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 NUMERATOR Net earnings $ 16,863 $ 18,039 $ 36,254 $ 33,515 Net (earnings) loss attributable to noncontrolling interests (38 ) 25 (168 ) (22 ) Net earnings allocated to participating securities (544 ) (669 ) (1,195 ) (1,262 ) Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities $ 16,281 $ 17,395 $ 34,891 $ 32,231 DENOMINATOR Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders 42,325 42,074 42,319 41,980 Dilutive effect of share-based awards 123 202 136 218 Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders 42,448 42,276 42,455 42,198 Basic earnings per common share attributable to Caleres, Inc. shareholders $ 0.38 $ 0.41 $ 0.82 $ 0.77 Diluted earnings per common share attributable to Caleres, Inc. shareholders $ 0.38 $ 0.41 $ 0.82 $ 0.76 Options to purchase 61,497 shares of common stock for the thirteen and twenty-six weeks ended August 1, 2015 and 64,497 shares of common stock for the thirteen and twenty-six weeks ended August 2, 2014 were not included in the denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive. |
Long-Term and Short-Term Financ
Long-Term and Short-Term Financing Arrangements (Notes) | 6 Months Ended |
Aug. 01, 2015 | |
Long-term and short-term financing activities (Narrative) (Details) [Abstract] | |
Debt Disclosure [Text Block] | Note 5 Long-term and Short-term Financing Arrangements Credit Agreement On December 18, 2014, the Company and certain of its subsidiaries (the “Loan Parties”) entered into a Fourth Amended and Restated Credit Agreement, which was further amended on July 20, 2015 to release all of the Company’s subsidiaries that were borrowers under or that guaranteed the Credit Agreement other than Sidney Rich Associates, Inc. and BG Retail, LLC (as so amended, the “Credit Agreement”). After giving effect to the amendment, the Company is the lead borrower, and Sidney Rich Associates, Inc. and BG Retail, LLC are each co-borrowers and guarantors under the Credit Agreement. The Credit Agreement matures on December 18, 2019 and provides for a revolving credit facility in an aggregate amount of up to $600.0 million , subject to the calculated borrowing base restrictions, and provides for an increase at the Company’s option by up to $150.0 million from time to time during the term of the Credit Agreement, subject to satisfaction of certain conditions and the willingness of existing or new lenders to assume the increase. Borrowing availability under the Credit Agreement is limited to the lesser of the total commitments and the borrowing base ("Loan Cap"), which is based on stated percentages of the sum of eligible accounts receivable, eligible inventory and eligible credit card receivables, as defined, less applicable reserves. Under the Credit Agreement, the Loan Parties’ obligations are secured by a first-priority security interest in all accounts receivable, inventory and certain other collateral. Interest on borrowings is at variable rates based on the London Interbank Offered Rate (“LIBOR”) or the prime rate, as defined in the Credit Agreement, plus a spread. The interest rate and fees for letters of credit vary based upon the level of excess availability under the Credit Agreement. There is an unused line fee payable on the unused portion under the facility and a letter of credit fee payable on the outstanding face amount under letters of credit. The Credit Agreement limits the Company’s ability to create, incur, assume or permit to exist additional indebtedness and liens, make investments or specified payments, give guarantees, pay dividends, make capital expenditures and merge or acquire or sell assets. In addition, certain additional covenants would be triggered if excess availability were to fall below specified levels, including fixed charge coverage ratio requirements. Furthermore, if excess availability falls below 12.5% of the Loan Cap for three consecutive business days or an event of default occurs, the lenders may assume dominion and control over the Company’s cash (a “cash dominion event”) until such event of default is cured or waived or the excess availability exceeds such amount for 30 consecutive days, provided that a cash dominion event shall be deemed continuing (even if an event of default is no longer continuing and/or excess availability exceeds the required amount for 30 consecutive business days) after a cash dominion event has occurred and been discontinued on two occasions in any twelve month period. The Credit Agreement contains customary events of default, including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to other material indebtedness, certain events of bankruptcy and insolvency, judgment defaults in excess of a certain threshold, the failure of any guaranty or security document supporting the agreement to be in full force and effect, and a change of control event. In addition, if the excess availability falls below the greater of (i) 10.0% of the lesser of the Loan Cap and (ii) $50.0 million , and the fixed charge coverage ratio is less than 1.0 to 1.0, the Company would be in default under the Credit Agreement. The Credit Agreement also contains certain other covenants and restrictions. We were in compliance with all covenants and restrictions under the Credit Agreement as of August 1, 2015 . At August 1, 2015 , the Company had no borrowings outstanding and $6.3 million in letters of credit outstanding under the Credit Agreement. Total borrowing availability was $593.7 million at August 1, 2015 . $200 Million Senior Notes Due 2019 On May 11, 2011, the Company issued $200.0 million aggregate principal amount of 7.125% Senior Notes due 2019 (the “2019 Senior Notes”). The 2019 Senior Notes were guaranteed on a senior unsecured basis by each of its subsidiaries that was an obligor under the Credit Agreement. Interest on the 2019 Senior Notes was payable on May 15 and November 15 of each year. The 2019 Senior Notes were scheduled to mature on May 15, 2019 but were callable at the redemption prices (expressed as a percentage of principal amount) set forth below plus accrued and unpaid interest, if redeemed during the 12-month period beginning on May 15 of the years indicated below: Year Percentage 2015 103.563 % 2016 101.781 % 2017 and thereafter 100.000 % On July 20, 2015, the Company commenced a cash tender offer (the "Tender Offer") to purchase any and all of the outstanding aggregate principal amount of its 2019 Senior Notes. Upon expiration of the Tender Offer on July 24, 2015, $160.7 million aggregate principal amount of the 2019 Senior Notes (or 80.35% of the aggregate principal amount of the 2019 Senior Notes outstanding) were validly tendered. As of August 1, 2015, $41.5 million of restricted cash is included in the condensed consolidated balance sheets, representing deposits with the trustee for the redemption of the remaining outstanding 2019 Senior Notes. During the thirteen weeks ended August 1, 2015, the Company recognized a loss on the early extinguishment of the 2019 Senior Notes of $8.7 million , which represents the tender offer and call premiums, and the unamortized debt issuance costs and original issue discount associated with the portion of the 2019 Senior Notes that were redeemed. Subsequent Event - Redemption of 2019 Senior Notes - On August 26, 2015, the Company redeemed the remaining outstanding $39.3 million aggregate principal amount of outstanding 2019 Senior Notes at the redemption price of 103.563% and recognized an additional loss on early extinguishment of $2.0 million , comprised of the call premium and the associated unamortized debt issuance costs and original issue discount. $200 Million Senior Notes Due 2023 On July 27, 2015, the Company issued $200.0 million aggregate principal amount of 6.25% Senior Notes due 2023 (the "2023 Senior Notes") in a private placement. The 2023 Senior Notes are guaranteed on a senior unsecured basis by each of the Company's subsidiaries that is a borrower or guarantor under the Credit Agreement. Interest on the 2023 Senior Notes is payable on February 15 and August 15 of each year, beginning on February 15, 2016. The 2023 Senior Notes will mature on August 15, 2023. Prior to August 15, 2018, the Company may redeem some or all of the 2023 Senior Notes at a redemption price equal to 100% of the the principal amount of the 2023 Senior Notes plus a "make-whole" premium (as defined in the 2023 Senior Notes indenture) and accrued and unpaid interest to the redemption date. After August 15, 2018, the Company may redeem all or a part of the 2023 Senior Notes at the redemption prices (expressed as a percentage of principal amount) set forth below plus accrued and unpaid interest, and Additional Interest (as defined in the 2023 Senior Notes indenture), if redeemed during the 12-month period beginning on August 15 of the years indicated below: Year Percentage 2018 104.688 % 2019 103.125 % 2020 101.563 % 2021 and thereafter 100.000 % If the Company experiences specific kinds of changes of control, it would be required to offer to purchase the 2023 Senior Notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest and Additional Interest, if any, to, but not including, the date of repurchase. The 2023 Senior Notes also contain certain other covenants and restrictions that limit certain activities including, among other things, levels of indebtedness, payments of dividends, the guarantee or pledge of assets, certain investments, common stock repurchases, mergers and acquisitions and sales of assets. As of August 1, 2015 , we were in compliance with all covenants and restrictions relating to the 2023 Senior Notes. The net proceeds from the issuance of the 2023 Senior Notes were approximately $196.3 million after deducting fees and expenses associated with the offering. The Company used the net proceeds, together with cash on hand, to redeem the outstanding 2019 Senior Notes. |
Business Segment Information
Business Segment Information | 6 Months Ended |
Aug. 01, 2015 | |
Segment Reporting [Abstract] | |
Business Segment Information | Note 6 Business Segment Information During the fourth quarter of 2014, following the sale of Shoes.com, the Company revised its reportable segments. This change reflects the Company's omnichannel approach to managing its branded footwear business across all distribution channels. Following is a summary of certain key financial measures for the Company’s business segments for the periods ended August 1, 2015 and August 2, 2014 . Famous Footwear Brand Portfolio ($ thousands) Other Total Thirteen Weeks Ended August 1, 2015 External sales $ 395,873 $ 241,961 $ — $ 637,834 Intersegment sales — 32,962 — 32,962 Operating earnings (loss) 27,672 16,005 (7,943 ) 35,734 Segment assets 608,353 540,582 278,538 1,427,473 Thirteen Weeks Ended August 2, 2014 External sales $ 404,069 $ 231,808 $ — $ 635,877 Intersegment sales — 36,134 — 36,134 Operating earnings (loss) 25,524 17,497 (11,719 ) 31,302 Segment assets 597,262 555,042 136,778 1,289,082 Twenty-six Weeks Ended August 1, 2015 External sales $ 755,893 $ 484,224 $ — $ 1,240,117 Intersegment sales — 50,288 — 50,288 Operating earnings (loss) 55,632 27,065 (16,627 ) 66,070 Twenty-six Weeks Ended August 2, 2014 External sales $ 770,795 $ 456,244 $ — $ 1,227,039 Intersegment sales — 56,684 — 56,684 Operating earnings (loss) 52,254 28,700 (20,926 ) 60,028 The Other category includes corporate assets, administrative expenses and other costs and recoveries, which are not allocated to the operating segments. Following is a reconciliation of operating earnings to earnings before income taxes: Thirteen Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Operating earnings $ 35,734 $ 31,302 $ 66,070 $ 60,028 Interest expense (4,345 ) (5,125 ) (8,808 ) (10,431 ) Loss on early extinguishment of debt (8,690 ) — (8,690 ) — Interest income 238 109 542 185 Earnings before income taxes $ 22,937 $ 26,286 $ 49,114 $ 49,782 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 6 Months Ended |
Aug. 01, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Intangible Assets | Note 7 Goodwill and Intangible Assets Goodwill and intangible assets attributable to the Company's operating segments were as follows: ($ thousands) August 1, 2015 August 2, 2014 January 31, 2015 Intangible Assets Famous Footwear $ 2,800 $ 3,000 $ 2,800 Brand Portfolio 183,068 183,068 183,068 Total intangible assets 185,868 186,068 185,868 Accumulated amortization (67,085 ) (63,260 ) (65,235 ) Total intangible assets, net 118,783 122,808 120,633 Goodwill Brand Portfolio 13,954 13,954 13,954 Total goodwill 13,954 13,954 13,954 Goodwill and intangible assets, net $ 132,737 $ 136,762 $ 134,587 Intangible assets consist primarily of owned and licensed trademarks, of which $20.8 million as of August 1, 2015 and January 31, 2015 and $21.0 million as of August 2, 2014 , are not subject to amortization. The remaining intangible assets are subject to amortization and have useful lives ranging from 15 to 40 years as of August 1, 2015 . Amortization expense related to intangible assets was $0.9 million and $1.0 million for the thirteen weeks and $1.9 million and $2.0 million for the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively. On February 3, 2014, the Company entered into and simultaneously closed an Asset Purchase Agreement (the “Asset Purchase Agreement”), pursuant to which the Company acquired the Franco Sarto trademarks. As consideration, the Company paid a cash purchase price of $65.0 million at the time of closing. As a result of entering into and closing the Asset Purchase Agreement, the Company’s license agreement, granting the Company the right to sell footwear and other products using the Franco Sarto trademarks through 2019, was terminated. The purchase price of $65.0 million , as well as transaction costs of $0.1 million , are being amortized over its useful life of 40 years . In December 2014, in conjunction with the disposition of Shoes.com as further described in Note 3 to the condensed consolidated financial statements, the Company sold intangible assets with a carrying value of $0.2 million . The intangible assets were previously included in the Famous Footwear segment. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Aug. 01, 2015 | |
Stockholders' Equity Note [Abstract] | |
Shareholders' Equity | Note 8 Shareholders’ Equity The following tables set forth the changes in Caleres, Inc. shareholders’ equity and noncontrolling interests for the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively: ($ thousands) Caleres, Inc. Shareholders’ Equity Noncontrolling Interests Total Equity Equity at January 31, 2015 $ 540,910 $ 712 $ 541,622 Net earnings 36,086 168 36,254 Other comprehensive income 315 3 318 Dividends paid (6,135 ) — (6,135 ) Acquisition of treasury stock (4,921 ) — (4,921 ) Issuance of common stock under share-based plans, net (4,428 ) — (4,428 ) Tax benefit related to share-based plans 2,838 — 2,838 Share-based compensation expense 3,680 — 3,680 Equity at August 1, 2015 $ 568,345 $ 883 $ 569,228 ($ thousands) Caleres, Inc. Shareholders’ Equity Noncontrolling Interests Total Equity Equity at February 1, 2014 $ 476,699 $ 663 $ 477,362 Net earnings 33,493 22 33,515 Other comprehensive loss (35 ) (15 ) (50 ) Dividends paid (6,110 ) — (6,110 ) Issuance of common stock under share-based plans, net (523 ) — (523 ) Tax benefit related to share-based plans 2,097 — 2,097 Share-based compensation expense 2,961 — 2,961 Equity at August 2, 2014 $ 508,582 $ 670 $ 509,252 Accumulated Other Comprehensive Income The following table sets forth the changes in accumulated other comprehensive income by component for the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 : ($ thousands) Foreign Currency Translation Pension and Other Postretirement Transactions (1) Derivative Financial Instrument Transactions (2) Accumulated Other Comprehensive Income (Loss) Balance May 2, 2015 $ 647 $ 3,018 $ 7 $ 3,672 Other comprehensive (loss) income before reclassifications (949 ) — 625 (324 ) Reclassifications: Amounts reclassified from accumulated other comprehensive income — (401 ) (109 ) (510 ) Tax provision — 158 31 189 Net reclassifications — (243 ) (78 ) (321 ) Other comprehensive (loss) income (949 ) (243 ) 547 (645 ) Balance August 1, 2015 $ (302 ) $ 2,775 $ 554 $ 3,027 Balance May 3, 2014 $ 3,243 $ 13,559 $ 351 $ 17,153 Other comprehensive income (loss) before reclassifications 244 — (761 ) (517 ) Reclassifications: Amounts reclassified from accumulated other comprehensive (loss) income — (59 ) 55 (4 ) Tax provision (benefit) — 26 (17 ) 9 Net reclassifications — (33 ) 38 5 Other comprehensive income (loss) 244 (33 ) (723 ) (512 ) Balance August 2, 2014 $ 3,487 $ 13,526 $ (372 ) $ 16,641 Balance January 31, 2015 $ (745 ) $ 3,233 $ 224 $ 2,712 Other comprehensive income before reclassifications, net of tax 443 — 365 808 Reclassifications: Amounts reclassified from accumulated other comprehensive income — (758 ) (38 ) (796 ) Tax provision — 300 3 303 Net reclassifications — (458 ) (35 ) (493 ) Other comprehensive income (loss) 443 (458 ) 330 315 Balance August 1, 2015 $ (302 ) $ 2,775 $ 554 $ 3,027 Balance February 1, 2014 $ 2,356 $ 13,582 $ 738 $ 16,676 Other comprehensive income (loss) before reclassifications 1,131 — (1,094 ) 37 Reclassifications: Amounts reclassified from accumulated other comprehensive income — (101 ) (23 ) (124 ) Tax provision — 45 7 52 Net reclassifications — (56 ) (16 ) (72 ) Other comprehensive income (loss) 1,131 (56 ) (1,110 ) (35 ) Balance August 2, 2014 $ 3,487 $ 13,526 $ (372 ) $ 16,641 (1) Amounts reclassified are included in selling and administrative expenses. See Note 10 to the condensed consolidated financial statements for additional information related to pension and other postretirement benefits. (2) Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. See Notes 11 and 12 to the condensed consolidated financial statements for additional information related to derivative financial instruments. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Aug. 01, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Note 9 Share-Based Compensation The Company recognized share-based compensation expense of $2.0 million and $1.4 million during the thirteen weeks and $3.7 million and $3.0 million during the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively. The Company issued 20,163 and 62,117 shares of common stock during the thirteen weeks and 364,842 and 514,242 during the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively, for stock-based awards, stock options exercised and directors' fees. The following tables summarize restricted stock activity for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended August 1, 2015 Thirteen Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Total Number of Restricted Shares May 2, 2015 1,462,416 $ 18.57 May 3, 2014 1,652,258 $ 15.58 Granted 8,000 31.67 Granted 8,800 28.02 Forfeited (15,000 ) 16.04 Forfeited (27,600 ) 15.73 Vested (59,800 ) 11.61 Vested (34,988 ) 16.67 August 1, 2015 1,395,616 $ 18.97 August 2, 2014 1,598,470 $ 15.60 Twenty-six Weeks Ended August 1, 2015 Twenty-six Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Total Number of Restricted Shares January 31, 2015 1,562,470 $ 15.61 February 1, 2014 1,700,098 $ 13.25 Granted 293,421 30.11 Granted 279,710 28.17 Forfeited (49,850 ) 19.51 Forfeited (27,600 ) 15.73 Vested (410,425 ) 14.15 Vested (353,738 ) 14.25 August 1, 2015 1,395,616 $ 18.97 August 2, 2014 1,598,470 $ 15.60 All of the restricted shares granted during the thirteen weeks ended August 1, 2015 and August 2, 2014 will vest in four years . Of the 293,421 restricted shares granted during the twenty-six weeks ended August 1, 2015 , 280,921 will vest in four years and 12,500 of the shares will vest in five years . Of the 279,710 restricted shares granted during the twenty-six weeks ended August 2, 2014 , 277,910 will vest in four years and the remaining 1,800 restricted shares vested in one year . Share-based compensation expense is recognized on a straight-line basis over the respective vesting periods. During the thirteen weeks ended August 1, 2015 and August 2, 2014 , the Company granted no performance share awards. During the twenty-six weeks ended August 1, 2015 and August 2, 2014 , the Company granted performance share awards for a targeted 177,921 shares and 88,185 units, respectively, with a weighted-average grant date fair value of $30.12 and $28.18 , respectively. Vesting of performance-based awards is dependent upon the financial performance of the Company and the attainment of certain financial goals during the three year period following the grant. At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the achievement of specified financial goals for the service period. Compensation expense is being recognized based on the fair value of the award and the anticipated number of units to be awarded in accordance with the vesting schedule of the units over the three-year service period. The performance share units are settled in cash and their fair value is based on the unadjusted quoted market price for the Company’s common stock on each measurement date. During the thirteen and twenty-six weeks ended August 1, 2015 , the Company granted zero and 16,667 stock options, respectively, with a weighted-average grant date fair value of $29.18 . Of the 16,667 stock options granted, 8,333 will vest in four years and 8,334 will vest in five years . The following tables summarize restricted stock unit (RSU) activity for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended August 1, 2015 Thirteen Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of RSUs Total Number of RSUs May 2, 2015 331,698 $ 30.51 May 3, 2014 347,216 $ 23.96 Granted (1) 36,740 31.68 Granted (1) 39,476 28.73 August 1, 2015 368,438 $ 31.44 August 2, 2014 386,692 $ 40.88 Twenty-six Weeks Ended August 1, 2015 Twenty-six Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of RSUs Total Number of RSUs January 31, 2015 330,994 $ 28.72 February 1, 2014 346,305 $ 21.30 Granted (1) 37,444 31.69 Granted (1) 40,387 28.68 August 1, 2015 368,438 $ 31.21 August 2, 2014 386,692 $ 26.43 (1) Granted RSUs include 740 RSUs and 911 RSUs for the thirteen weeks and 1,444 RSUs and 1,687 RSUs for the twenty-six weeks ended August 1, 2015 and August 2, 2014, respectively, resulting from dividend equivalents paid on outstanding RSUs, which vested immediately. |
Retirement And Other Benefit Pl
Retirement And Other Benefit Plans | 6 Months Ended |
Aug. 01, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement And Other Benefit Plans | Note 10 Retirement and Other Benefit Plans The following tables set forth the components of net periodic benefit income for the Company, including domestic and Canadian plans: Pension Benefits Other Postretirement Benefits Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Service cost $ 2,993 $ 2,239 $ — $ — Interest cost 3,578 3,560 14 12 Expected return on assets (8,190 ) (6,197 ) — — Amortization of: Actuarial loss (gain) 143 67 (63 ) (132 ) Prior service (income) expense (481 ) 6 — — Total net periodic benefit income $ (1,957 ) $ (325 ) $ (49 ) $ (120 ) Pension Benefits Other Postretirement Benefits Twenty-six Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Service cost $ 6,322 $ 4,826 $ — $ — Interest cost 7,164 7,116 28 24 Expected return on assets (15,845 ) (12,381 ) — — Amortization of: Actuarial loss (gain) 309 102 (111 ) (217 ) Prior service (income) expense (956 ) 14 — — Total net periodic benefit income $ (3,006 ) $ (323 ) $ (83 ) $ (193 ) |
Risk Management And Derivatives
Risk Management And Derivatives | 6 Months Ended |
Aug. 01, 2015 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Risk Management And Derivatives | Note 11 Risk Management and Derivatives In the normal course of business, the Company’s financial results are impacted by currency rate movements in foreign currency denominated assets, liabilities and cash flows as it makes a portion of its purchases and sales in local currencies. The Company has established policies and business practices that are intended to mitigate a portion of the effect of these exposures. The Company uses derivative financial instruments, primarily forward contracts, to manage its currency exposures. These derivative instruments are viewed as risk management tools and are not used for trading or speculative purposes. Derivatives entered into by the Company are designated as cash flow hedges of forecasted foreign currency transactions. Derivative financial instruments expose the Company to credit and market risk. The market risk associated with these instruments resulting from currency exchange movements is expected to offset the market risk of the underlying transactions being hedged. The Company does not believe there is a significant risk of loss in the event of non-performance by the counterparties associated with these instruments because these transactions are executed with major financial institutions and have varying maturities through July 2016 . Credit risk is managed through the continuous monitoring of exposures to such counterparties. The Company’s hedging strategy principally uses foreign currency forward contracts as cash flow hedges, which are recorded in the condensed consolidated balance sheets at fair value, to offset a portion of the effects of exchange rate fluctuations. The Company’s cash flow exposures include anticipated foreign currency transactions, such as foreign currency denominated sales, inventory purchases, expenses and intercompany charges, as well as collections and payments. The effective portion of gains and losses resulting from changes in the fair value of these hedge instruments are deferred in accumulated other comprehensive income and reclassified to earnings in the period that the hedged transaction is recognized in earnings. The Company performs a quarterly assessment of the effectiveness of the hedge relationship and measures and recognizes any hedge ineffectiveness in the condensed consolidated statements of earnings. Hedge ineffectiveness is evaluated using the hypothetical derivative method. The amount of hedge ineffectiveness for the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 was not material. As of August 1, 2015 , August 2, 2014 and January 31, 2015 , the Company had forward contracts maturing at various dates through July 2016 , August 2015 and January 2016 , respectively. The contract notional amount represents the net amount of all purchase and sale contracts of a foreign currency. Contract Notional Amount (U.S. $ equivalent in thousands) August 1, 2015 August 2, 2014 January 31, 2015 Financial Instruments U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) $ 19,650 $ 20,973 $ 19,633 Euro 18,035 12,331 16,152 Chinese yuan 15,214 14,524 14,512 Japanese yen 1,208 1,613 1,523 New Taiwanese dollars 537 598 599 Other currencies 1,096 815 970 Total financial instruments $ 55,740 $ 50,854 $ 53,389 The classification and fair values of derivative instruments designated as hedging instruments included within the condensed consolidated balance sheets as of August 1, 2015 , August 2, 2014 and January 31, 2015 are as follows: Asset Derivatives Liability Derivatives ($ thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign exchange forward contracts: August 1, 2015 Prepaid expenses and other current assets $ 1,166 Other accrued expenses $ 453 August 2, 2014 Prepaid expenses and other current assets 239 Other accrued expenses 615 January 31, 2015 Prepaid expenses and other current assets 1,863 Other accrued expenses 1,784 For the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 , the effect of derivative instruments in cash flow hedging relationships on the condensed consolidated statements of earnings was as follows: Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 Foreign exchange forward contracts: Income Statement Classification Gains (Losses) - Realized Gain Recognized in OCI on Derivatives Gain Reclassified from Accumulated OCI into Earnings Gain (Loss) Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Net sales $ 35 $ 59 $ 3 $ 3 Cost of goods sold 733 7 (776 ) (64 ) Selling and administrative expenses 121 43 (253 ) 6 Interest expense 8 — (5 ) — Twenty-six Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 Foreign exchange forward contracts: Income Statement Classification Gains (Losses) - Realized Gain (Loss) Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Loss Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Net sales $ 60 $ 113 $ (4 ) $ 16 Cost of goods sold 532 (122 ) (757 ) (11 ) Selling and administrative expenses 33 47 (709 ) 18 Interest expense (14 ) — (17 ) — All gains and losses currently included within accumulated other comprehensive income associated with the Company’s foreign exchange forward contracts are expected to be reclassified into net earnings within the next 12 months. Additional information related to the Company’s derivative financial instruments are disclosed within Note 12 to the condensed consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Aug. 01, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 12 Fair Value Measurements Fair Value Hierarchy FASB guidance on fair value measurements and disclosures specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (“observable inputs”) or reflect the Company’s own assumptions of market participant valuation (“unobservable inputs”). In accordance with the fair value guidance, the inputs to valuation techniques used to measure fair value are categorized into three levels based on the reliability of the inputs as follows: • Level 1 – Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2 – Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; • Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. In determining fair value, the Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk. Classification of the financial or non-financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Measurement of Fair Value The Company measures fair value as an exit price, the price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date, using the procedures described below for all financial and non-financial assets and liabilities measured at fair value. Money Market Funds The Company has cash equivalents consisting of short-term money market funds backed by U.S. Treasury securities. The primary objective of these investing activities is to preserve the Company’s capital for the purpose of funding operations. The Company does not enter into money market funds for trading or speculative purposes. The fair value is based on unadjusted quoted market prices for the funds in active markets with sufficient volume and frequency (Level 1). Deferred Compensation Plan Assets and Liabilities The Company maintains a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for the benefit of certain management employees. The investment funds offered to the participant generally correspond to the funds offered in the Company’s 401(k) plan, and the account balance fluctuates with the investment returns on those funds. The Deferred Compensation Plan permits the deferral of up to 50% of base salary and 100% of compensation received under the Company’s annual incentive plan. The deferrals are held in a separate trust, which has been established by the Company to administer the Deferred Compensation Plan. The assets of the trust are subject to the claims of the Company’s creditors in the event that the Company becomes insolvent. Consequently, the trust qualifies as a grantor trust for income tax purposes (i.e., a “Rabbi Trust”). The liabilities of the Deferred Compensation Plan are presented in other accrued expenses and the assets held by the trust are classified as trading securities within prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets. Changes in deferred compensation plan assets and liabilities are charged to selling and administrative expenses. The fair value is based on unadjusted quoted market prices for the funds in active markets with sufficient volume and frequency (Level 1). Deferred Compensation Plan for Non-Employee Directors Non-employee directors are eligible to participate in a deferred compensation plan with deferred amounts valued as if invested in the Company’s common stock through the use of phantom stock units (“PSUs”). Under the plan, each participating director’s account is credited with the number of PSUs that is equal to the number of shares of the Company’s common stock which the participant could purchase or receive with the amount of the deferred compensation, based upon the average of the high and low prices of the Company’s common stock on the last trading day of the fiscal quarter when the cash compensation was earned. Dividend equivalents are paid on PSUs at the same rate as dividends on the Company’s common stock and are re-invested in additional PSUs at the next fiscal quarter-end. The liabilities of the plan are based on the fair value of the outstanding PSUs and are presented in other accrued expenses (current portion) or other liabilities in the accompanying condensed consolidated balance sheets. Gains and losses resulting from changes in the fair value of the PSUs are presented in selling and administrative expenses in the Company’s condensed consolidated statement of earnings. The fair value of each PSU is based on an unadjusted quoted market price for the Company’s common stock in an active market with sufficient volume and frequency on each measurement date (Level 1). Restricted Stock Units for Non-Employee Directors Under the Company’s incentive compensation plans, cash-equivalent restricted stock units (“RSUs”) of the Company may be granted at no cost to non-employee directors. The RSUs are subject to a vesting requirement (usually one year), earn dividend-equivalent units, and are settled in cash on the date the director terminates service or such earlier date as a director may elect, subject to restrictions, based on the then current fair value of the Company’s common stock. The fair value of each RSU is based on an unadjusted quoted market price for the Company’s common stock in an active market with sufficient volume and frequency on each measurement date (Level 1). Additional information related to restricted stock units for non-employee directors is disclosed in Note 9 to the condensed consolidated financial statements. Performance Share Units Under the Company’s incentive compensation plans, common stock or cash may be awarded at the end of the performance period at no cost to certain officers and key employees if certain financial goals are met. Under the plan, employees are granted performance share awards at a target number of shares or units, which generally vest over a three -year service period. At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the achievement of specified financial goals for the service period. The fair value of each performance share unit is based on an unadjusted quoted market price of the Company’s common stock in an active market with sufficient volume and frequency on each measurement date (Level 1). Additional information related to performance share units is disclosed in Note 9 to the condensed consolidated financial statements. Derivative Financial Instruments The Company uses derivative financial instruments, primarily foreign exchange contracts, to reduce its exposure to market risks from changes in foreign exchange rates. These foreign exchange contracts are measured at fair value using quoted forward foreign exchange prices from counterparties corroborated by market-based pricing (Level 2). Additional information related to the Company’s derivative financial instruments is disclosed within Note 11 to the condensed consolidated financial statements. Secured Convertible Note The Company received a secured convertible note as partial consideration for the disposition of Shoes.com, as further described in Note 3 to the condensed consolidated financial statements. The convertible note is measured at fair value using unobservable inputs (Level 3). The change in fair value during the thirteen and twenty-six weeks ended August 1, 2015 reflects an immaterial amount of interest income. The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at August 1, 2015 , August 2, 2014 and January 31, 2015 . The Company did not have any transfers between Level 1 and Level 2 during 2014 or the twenty-six weeks ended August 1, 2015 . Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) As of August 1, 2015: Cash equivalents – money market funds $ 91,709 $ 91,709 $ — $ — Non-qualified deferred compensation plan assets 3,879 3,879 — — Non-qualified deferred compensation plan liabilities (3,879 ) (3,879 ) — — Deferred compensation plan liabilities for non-employee directors (2,423 ) (2,423 ) — — Restricted stock units for non-employee directors (10,263 ) (10,263 ) — — Performance share units (3,518 ) (3,518 ) — — Derivative financial instruments, net 713 — 713 — Secured convertible note 7,118 — — 7,118 As of August 2, 2014: Cash equivalents – money market funds $ 8,457 $ 8,457 $ — $ — Non-qualified deferred compensation plan assets 2,765 2,765 — — Non-qualified deferred compensation plan liabilities (2,765 ) (2,765 ) — — Deferred compensation plan liabilities for non-employee directors (1,983 ) (1,983 ) — — Restricted stock units for non-employee directors (8,103 ) (8,103 ) — — Performance share units (895 ) (895 ) — — Derivative financial instruments, net (376 ) — (376 ) — As of January 31, 2015: Cash equivalents – money market funds $ 35,533 $ 35,533 $ — $ — Non-qualified deferred compensation plan assets 2,904 2,904 — — Non-qualified deferred compensation plan liabilities (2,904 ) (2,904 ) — — Deferred compensation plan liabilities for non-employee directors (2,066 ) (2,066 ) — — Restricted stock units for non-employee directors (8,857 ) (8,857 ) — — Performance share units (5,147 ) (5,147 ) — — Derivative financial instruments, net 79 — 79 — Secured convertible note 6,957 — — 6,957 Impairment Charges The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors the Company considers important that could trigger an impairment review include underperformance relative to expected historical or projected future operating results, a significant change in the manner of the use of the asset, or a negative industry or economic trend. When the Company determines that the carrying value of long-lived assets may not be recoverable based upon the existence of one or more of the aforementioned factors, impairment is measured based on a projected discounted cash flow method. Certain factors, such as estimated store sales and expenses, used for this nonrecurring fair value measurement are considered Level 3 inputs as defined by FASB ASC 820, Fair Value Measurement . Long-lived assets held and used with a carrying amount of $82.3 million were assessed for indicators of impairment and written down to their fair value, resulting in impairment charges of $0.5 million for the thirteen weeks ended August 1, 2015 . Of the $0.5 million impairment charge included in selling and administrative expenses, $0.3 million related to the Famous Footwear segment and $0.2 million related to the Brand Portfolio segment. Impairment charges of $0.9 million were included in selling and administrative expenses for the twenty-six weeks ended August 1, 2015 , of which $0.5 million related to the Famous Footwear segment and $0.4 million related to the Brand Portfolio segment. Long-lived assets held and used with a carrying amount of $85.5 million were assessed for indicators of impairment and written down to their fair value, resulting in impairment charges of $0.4 million for the thirteen weeks ended August 2, 2014 . Of the $0.4 million impairment charge included in selling and administrative expenses, $0.2 million related to the Famous Footwear segment and $0.2 million related to the Brand Portfolio segment. Impairment charges of $0.7 million were included in selling and administrative expenses for the twenty-six weeks ended August 2, 2014 , of which $0.4 million related to the Famous Footwear segment and $0.3 million related to the Brand Portfolio segment. Fair Value of the Company’s Other Financial Instruments The fair values of cash and cash equivalents (excluding money market funds discussed above), receivables and trade accounts payable approximate their carrying values due to the short-term nature of these instruments. August 1, 2015 August 2, 2014 January 31, 2015 Carrying Fair Carrying Fair Carrying Fair ($ thousands) Amount Value Amount Value Amount Value Current portion of long-term debt $ 39,157 $ 40,823 $ — $ — $ — $ — Long-term debt 200,000 202,000 199,104 210,750 199,197 208,000 The fair value of the Company’s current portion of long-term debt and long-term debt was based upon quoted prices in an inactive market as of the end of the respective periods (Level 2). |
Income Taxes
Income Taxes | 6 Months Ended |
Aug. 01, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 13 Income Taxes The Company’s effective tax rate can vary considerably from period to period, depending on a number of factors. The Company’s consolidated effective tax rates were 26.5% and 31.4% for the thirteen weeks and 26.2% and 32.7% for the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively. The Company recognized discrete tax benefits of $1.3 million during the thirteen weeks ended August 1, 2015 . Of the $1.3 million of discrete tax benefits recognized, $1.2 million related to the 2014 disposition of Shoes.com, as further discussed in Note 3 to the condensed consolidated financial statements. The allocation of consideration received for tax purposes was finalized with the Purchaser during the second quarter, resulting in higher anticipated utilization of certain capital loss carryforwards that were previously fully reserved. If these discrete tax benefits had not been recognized during the thirteen weeks ended August 1, 2015 , the Company's effective tax rate would have been 32.0% . The Company recognized discrete tax benefits of $2.9 million during the twenty-six weeks ended August 1, 2015 . In addition to the items described above, during the first quarter of 2015, the Company recognized discrete tax benefits of $1.6 million , following the conversion of one of its primary operating subsidiaries to a limited liability company. If these discrete tax benefits had not been recognized during the twenty-six weeks ended August 1, 2015 , the Company's effective tax rate would have been 32.1% . |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Aug. 01, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 14 Related Party Transactions C. banner International Holdings Limited The Company has a joint venture agreement with a subsidiary of C. banner International Holdings Limited (“CBI”) to market Naturalizer footwear in China. The Company is a 51% owner of the joint venture (“B&H Footwear”), with CBI owning the other 49% . B&H Footwear sells Naturalizer footwear to a retail affiliate of CBI on a wholesale basis, which in turn sells the Naturalizer products through department store shops and free-standing stores in China. During the thirteen and twenty-six weeks ended August 1, 2015 , the Company sold $2.1 million and $4.7 million , respectively, of Naturalizer footwear on a wholesale basis to CBI through its consolidated subsidiary, B&H Footwear, with $1.4 million and $3.4 million in corresponding sales during the thirteen and twenty-six weeks ended August 2, 2014 . |
Commitments And Contingencies
Commitments And Contingencies | 6 Months Ended |
Aug. 01, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Note 15 Commitments and Contingencies Environmental Remediation Prior operations included numerous manufacturing and other facilities for which the Company may have responsibility under various environmental laws for the remediation of conditions that may be identified in the future. The Company is involved in environmental remediation and ongoing compliance activities at several sites and has been notified that it is or may be a potentially responsible party at several other sites. Redfield The Company is remediating, under the oversight of Colorado authorities, the groundwater and indoor air at its owned facility in Colorado (the “Redfield site” or, when referring to remediation activities at or under the facility, the “on-site remediation”) and residential neighborhoods adjacent to and near the property (the “off-site remediation”) that have been affected by solvents previously used at the facility. The on-site remediation calls for the operation of a pump and treat system (which prevents migration of contaminated groundwater off the property) as the final remedy for the site, subject to monitoring and periodic review of the on-site conditions and other remedial technologies that may be developed in the future. Off-site groundwater concentrations have been reducing over time since installation of the pump and treat system in 2000 and injection of clean water beginning in 2003. However, localized areas of contaminated bedrock just beyond the property line continue to impact off-site groundwater. The modified workplan for addressing this condition includes converting the off-site bioremediation system into a monitoring well network and employing different remediation methods in these recalcitrant areas. In accordance with the workplan, a pilot test was conducted of certain groundwater remediation methods and the results of that test were used to develop more detailed plans for remedial activities in the off-site areas, which were approved by the authorities and are being implemented in a phased manner. The results of groundwater monitoring are being used to evaluate the effectiveness of these activities. The liability for the on-site remediation was discounted at 4.8% . On an undiscounted basis, the on-site remediation liability would be $15.4 million as of August 1, 2015 . The Company expects to spend approximately $ 0.2 million in each of the next five years and $14.4 million in the aggregate thereafter related to the on-site remediation. The cumulative expenditures for both on-site and off-site remediation through August 1, 2015 were $27.5 million . The Company has recovered a portion of these expenditures from insurers and other third parties. The reserve for the anticipated future remediation activities at August 1, 2015 is $9.7 million , of which $9.0 million is recorded within other liabilities and $0.7 million is recorded within other accrued expenses. Of the total $ 9.7 million reserve, $5.0 million is for on-site remediation and $4.7 million is for off-site remediation. Other The Company has completed its remediation efforts at its closed New York tannery and two associated landfills. In 1995, state environmental authorities reclassified the status of these sites as being properly closed and requiring only continued maintenance and monitoring through 2024. The Company has an accrued liability of $1.3 million at August 1, 2015 to complete the cleanup, maintenance and monitoring at these sites, which has been discounted at 6.4% . Of the $1.3 million reserve, $1.1 million is recorded in other liabilities and $0.2 million is recorded in other accrued expenses. On an undiscounted basis, this liability would be $1.8 million . The Company expects to spend approximately $0.2 million in each of the next five years and $0.8 million in the aggregate thereafter related to these sites. In addition, various federal and state authorities have identified the Company as a potentially responsible party for remediation at certain other sites. However, the Company does not currently believe that its liability for such sites, if any, would be material. The Company continues to evaluate its estimated costs in conjunction with its environmental consultants and records its best estimate of such liabilities. However, future actions and the associated costs are subject to oversight and approval of various governmental authorities. Accordingly, the ultimate costs may vary, and it is possible costs may exceed the recorded amounts. Litigation The Company is involved in legal proceedings and litigation arising in the ordinary course of business. In the opinion of management, the outcome of such ordinary course of business proceedings and litigation currently pending is not expected to have a material adverse effect on the Company’s results of operations or financial position. Legal costs associated with litigation are generally expensed as incurred. During 2014, the Company signed a settlement agreement to resolve a putative class action lawsuit involving wage and hour claims in California for an amount not to exceed $1.5 million . The court has granted preliminary approval of the settlement, pursuant to which the Company will pay a minimum of $1.0 million in attorneys' fees, costs of administering the settlement and settlement payments to class members who submit claims. A hearing for final approval of the settlement is scheduled for the third quarter of 2015. The reserve for this matter as of August 1, 2015 is $1.5 million . |
Financial Information For The C
Financial Information For The Company And Its Subsidiaries | 6 Months Ended |
Aug. 01, 2015 | |
Financial Information For The Company And Its Subsidiaries [Abstract] | |
Financial Information For The Company And Its Subsidiaries | Note 16 Financial Information for the Company and its Subsidiaries The Company's 2023 Senior Notes are fully and unconditionally and jointly and severally guaranteed by all of its existing and future subsidiaries that are guarantors under the Credit Agreement, as further discussed in Note 5 to the condensed consolidated financial statements. The following table presents the condensed consolidating financial information for each of Caleres, Inc. (“Parent”), the Guarantors, and subsidiaries of the Parent that are not Guarantors (the “Non-Guarantors”), together with consolidating eliminations, as of and for the periods indicated. The Guarantors are 100% owned by the Parent. The condensed consolidating financial statements have been prepared using the equity method of accounting in accordance with the requirements for presentation of such information. Management believes that the information, presented in lieu of complete financial statements for each of the Guarantors, provides meaningful information to allow investors to determine the nature of the assets held by, and operations and cash flows of, each of the consolidated groups. UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET AS OF AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 42,738 $ 12,742 $ 73,865 $ — $ 129,345 Restricted cash 41,482 — — — 41,482 Receivables, net 102,455 2,635 39,123 — 144,213 Inventories, net 158,061 458,869 24,198 — 641,128 Prepaid expenses and other current assets 12,032 22,554 6,416 — 41,002 Intercompany receivable – current 369 120 14,122 (14,611 ) — Total current assets 357,137 496,920 157,724 (14,611 ) 997,170 Other assets 133,056 15,227 (1,556 ) — 146,727 Goodwill and intangible assets, net 116,670 2,800 13,267 — 132,737 Property and equipment, net 31,530 109,463 9,846 — 150,839 Investment in subsidiaries 1,010,293 — (18,530 ) (991,763 ) — Intercompany receivable – noncurrent 425,872 359,067 533,324 (1,318,263 ) — Total assets $ 2,074,558 $ 983,477 $ 694,075 $ (2,324,637 ) $ 1,427,473 Liabilities and Equity Current liabilities Current portion of long-term debt $ 39,157 $ — $ — $ — $ 39,157 Trade accounts payable 121,213 222,148 39,265 — 382,626 Other accrued expenses 44,465 96,992 14,649 — 156,106 Intercompany payable – current 5,211 297 9,103 (14,611 ) — Total current liabilities 210,046 319,437 63,017 (14,611 ) 577,889 Other liabilities Long-term debt 200,000 — — — 200,000 Other liabilities 44,049 33,812 2,495 — 80,356 Intercompany payable – noncurrent 1,052,118 37,745 228,400 (1,318,263 ) — Total other liabilities 1,296,167 71,557 230,895 (1,318,263 ) 280,356 Equity Caleres, Inc. shareholders’ equity 568,345 592,483 399,280 (991,763 ) 568,345 Noncontrolling interests — — 883 — 883 Total equity 568,345 592,483 400,163 (991,763 ) 569,228 Total liabilities and equity $ 2,074,558 $ 983,477 $ 694,075 $ (2,324,637 ) $ 1,427,473 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE THIRTEEN WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 196,809 $ 415,717 $ 81,169 $ (55,861 ) $ 637,834 Cost of goods sold 144,750 225,771 47,563 (43,045 ) 375,039 Gross profit 52,059 189,946 33,606 (12,816 ) 262,795 Selling and administrative expenses 60,220 164,064 15,593 (12,816 ) 227,061 Operating (loss) earnings (8,161 ) 25,882 18,013 — 35,734 Interest expense (4,345 ) — — — (4,345 ) Loss on early extinguishment of debt (8,690 ) — — — (8,690 ) Interest income 196 — 42 — 238 Intercompany interest income (expense) 3,432 (3,471 ) 39 — — (Loss) earnings before income taxes (17,568 ) 22,411 18,094 — 22,937 Income tax benefit (provision) 3,651 (7,570 ) (2,155 ) — (6,074 ) Equity in earnings of subsidiaries, net of tax 30,742 — 394 (31,136 ) — Net earnings 16,825 14,841 16,333 (31,136 ) 16,863 Less: Net earnings attributable to noncontrolling interests — — 38 — 38 Net earnings attributable to Caleres, Inc. $ 16,825 $ 14,841 $ 16,295 $ (31,136 ) $ 16,825 Comprehensive income $ 16,181 $ 14,229 $ 15,719 $ (29,911 ) $ 16,218 Less: Comprehensive income attributable to noncontrolling interests — — 37 — 37 Comprehensive income attributable to Caleres, Inc. $ 16,181 $ 14,229 $ 15,682 $ (29,911 ) $ 16,181 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FOR THE TWENTY-SIX WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 389,160 $ 795,906 $ 136,150 $ (81,099 ) $ 1,240,117 Cost of goods sold 282,343 427,354 84,526 (65,427 ) 728,796 Gross profit 106,817 368,552 51,624 (15,672 ) 511,321 Selling and administrative expenses 113,197 316,310 31,416 (15,672 ) 445,251 Operating (loss) earnings (6,380 ) 52,242 20,208 — 66,070 Interest expense (8,807 ) (1 ) — — (8,808 ) Loss on early extinguishment of debt (8,690 ) — — — (8,690 ) Interest income 448 — 94 — 542 Intercompany interest income (expense) 7,109 (7,193 ) 84 — — (Loss) earnings before income taxes (16,320 ) 45,048 20,386 — 49,114 Income tax benefit (provision) 5,335 (15,590 ) (2,605 ) — (12,860 ) Equity in earnings of subsidiaries, net of tax 47,071 — 378 (47,449 ) — Net earnings 36,086 29,458 18,159 (47,449 ) 36,254 Less: Net earnings attributable to noncontrolling interests — — 168 — 168 Net earnings attributable to Caleres, Inc. $ 36,086 $ 29,458 $ 17,991 $ (47,449 ) $ 36,086 Comprehensive income $ 36,398 $ 29,570 $ 18,275 $ (47,674 ) $ 36,569 Less: Comprehensive income attributable to noncontrolling interests — — 171 — 171 Comprehensive income attributable to Caleres, Inc. $ 36,398 $ 29,570 $ 18,104 $ (47,674 ) $ 36,398 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE TWENTY-SIX WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash (used for) provided by operating activities $ (3,561 ) $ 71,298 $ 33,518 $ — $ 101,255 Investing activities Purchases of property and equipment (9,933 ) (14,470 ) (469 ) — (24,872 ) Disposals of property and equipment 7,111 — — — 7,111 Capitalized software (1,959 ) (739 ) — — (2,698 ) Intercompany investing (253 ) 253 — — — Net cash used for investing activities (5,034 ) (14,956 ) (469 ) — (20,459 ) Financing activities Borrowings under revolving credit agreement 86,000 — — — 86,000 Repayments under revolving credit agreement (86,000 ) — — — (86,000 ) Proceeds from issuance of 2023 senior notes 200,000 — — — 200,000 Redemption of 2019 senior notes (160,700 ) — — — (160,700 ) Restricted cash (41,482 ) — — — (41,482 ) Debt issuance costs (3,650 ) — — — (3,650 ) Dividends paid (6,135 ) — — — (6,135 ) Acquisition of treasury stock (4,921 ) — — — (4,921 ) Issuance of common stock under share-based plans, net (4,428 ) — — — (4,428 ) Tax benefit related to share-based plans 2,838 — — — 2,838 Intercompany financing 55,920 (43,600 ) (12,320 ) — — Net cash provided by (used for) financing activities 37,442 (43,600 ) (12,320 ) — (18,478 ) Effect of exchange rate changes on cash and cash equivalents — — (376 ) — (376 ) Increase in cash and cash equivalents 28,847 12,742 20,353 — 61,942 Cash and cash equivalents at beginning of period 13,891 — 53,512 — 67,403 Cash and cash equivalents at end of period $ 42,738 $ 12,742 $ 73,865 $ — $ 129,345 CONDENSED CONSOLIDATING BALANCE SHEET AS OF JANUARY 31, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 13,891 $ — $ 53,512 $ — $ 67,403 Receivables, net 89,030 5,398 42,218 — 136,646 Inventories, net 148,082 376,254 18,767 — 543,103 Prepaid expenses and other current assets 41,494 20,777 8,964 (27,491 ) 43,744 Intercompany receivable – current 1,194 — 8,750 (9,944 ) — Total current assets 293,691 402,429 132,211 (37,435 ) 790,896 Other assets 113,922 13,733 13,931 — 141,586 Goodwill and intangible assets, net 117,792 2,800 13,995 — 134,587 Property and equipment, net 29,237 109,720 10,786 — 149,743 Investment in subsidiaries 956,831 — (18,909 ) (937,922 ) — Intercompany receivable – noncurrent 459,774 306,871 539,396 (1,306,041 ) — Total assets $ 1,971,247 $ 835,553 $ 691,410 $ (2,281,398 ) $ 1,216,812 Liabilities and Equity Current liabilities Trade accounts payable $ 60,377 $ 114,208 $ 41,336 $ — $ 215,921 Other accrued expenses 110,714 85,638 12,301 (27,491 ) 181,162 Intercompany payable – current 4,948 — 4,996 (9,944 ) — Total current liabilities 176,039 199,846 58,633 (37,435 ) 397,083 Other liabilities Long-term debt 199,197 — — — 199,197 Other liabilities 41,847 32,574 4,489 — 78,910 Intercompany payable – noncurrent 1,013,254 21,078 271,709 (1,306,041 ) — Total other liabilities 1,254,298 53,652 276,198 (1,306,041 ) 278,107 Equity Caleres, Inc. shareholders’ equity 540,910 582,055 355,867 (937,922 ) 540,910 Noncontrolling interests — — 712 — 712 Total equity 540,910 582,055 356,579 (937,922 ) 541,622 Total liabilities and equity $ 1,971,247 $ 835,553 $ 691,410 $ (2,281,398 ) $ 1,216,812 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET AS OF AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ — $ — $ 46,876 $ — $ 46,876 Receivables, net 85,285 2,491 37,708 — 125,484 Inventories, net 160,581 470,596 26,479 — 657,656 Prepaid expenses and other current assets 11,869 20,278 7,020 — 39,167 Intercompany receivable – current 1,958 — 19,165 (21,123 ) — Total current assets 259,693 493,365 137,248 (21,123 ) 869,183 Other assets 119,473 13,455 1,851 — 134,779 Goodwill and intangible assets, net 119,041 2,800 14,921 — 136,762 Property and equipment, net 26,935 112,203 9,220 — 148,358 Investment in subsidiaries 886,736 — (19,151 ) (867,585 ) — Intercompany receivable – noncurrent 450,516 278,910 485,949 (1,215,375 ) — Total assets $ 1,862,394 $ 900,733 $ 630,038 $ (2,104,083 ) $ 1,289,082 Liabilities and Equity Current liabilities Trade accounts payable $ 104,054 $ 192,787 $ 44,853 $ — $ 341,694 Other accrued expenses 49,838 94,649 14,665 — 159,152 Intercompany payable – current 6,143 — 14,980 (21,123 ) — Total current liabilities 160,035 287,436 74,498 (21,123 ) 500,846 Other liabilities Long-term debt 199,104 — — — 199,104 Other liabilities 34,659 37,543 7,678 — 79,880 Intercompany payable – noncurrent 960,014 38,569 216,792 (1,215,375 ) — Total other liabilities 1,193,777 76,112 224,470 (1,215,375 ) 278,984 Equity Caleres, Inc. shareholders’ equity 508,582 537,185 330,400 (867,585 ) 508,582 Noncontrolling interests — — 670 — 670 Total equity 508,582 537,185 331,070 (867,585 ) 509,252 Total liabilities and equity $ 1,862,394 $ 900,733 $ 630,038 $ (2,104,083 ) $ 1,289,082 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE THIRTEEN WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 183,598 $ 417,917 $ 94,578 $ (60,216 ) $ 635,877 Cost of goods sold 136,433 229,064 60,154 (49,416 ) 376,235 Gross profit 47,165 188,853 34,424 (10,800 ) 259,642 Selling and administrative expenses 57,149 164,142 17,849 (10,800 ) 228,340 Operating (loss) earnings (9,984 ) 24,711 16,575 — 31,302 Interest expense (5,125 ) — — — (5,125 ) Interest income 12 — 97 — 109 Intercompany interest income (expense) 3,828 (3,787 ) (41 ) — — (Loss) earnings before income taxes (11,269 ) 20,924 16,631 — 26,286 Income tax benefit (provision) 1,684 (8,375 ) (1,556 ) — (8,247 ) Equity in earnings of subsidiaries, net of tax 27,649 — 81 (27,730 ) — Net earnings 18,064 12,549 15,156 (27,730 ) 18,039 Less: Net earnings attributable to noncontrolling interests — — (25 ) — (25 ) Net earnings attributable to Caleres, Inc. $ 18,064 $ 12,549 $ 15,181 $ (27,730 ) $ 18,064 Comprehensive income $ 17,555 $ 12,541 $ 15,143 $ (27,712 ) $ 17,527 Less: Comprehensive income attributable to noncontrolling interests — — (28 ) — (28 ) Comprehensive income attributable to Caleres, Inc. $ 17,555 $ 12,541 $ 15,171 $ (27,712 ) $ 17,555 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 362,758 $ 795,330 $ 158,931 $ (89,980 ) $ 1,227,039 Cost of goods sold 263,899 433,619 103,156 (75,618 ) 725,056 Gross profit 98,859 361,711 55,775 (14,362 ) 501,983 Selling and administrative expenses 106,346 310,783 39,188 (14,362 ) 441,955 Operating (loss) earnings (7,487 ) 50,928 16,587 — 60,028 Interest expense (10,430 ) (1 ) — — (10,431 ) Interest income 13 — 172 — 185 Intercompany interest income (expense) 7,802 (7,720 ) (82 ) — — (Loss) earnings before income taxes (10,102 ) 43,207 16,677 — 49,782 Income tax benefit (provision) 2,148 (17,229 ) (1,186 ) — (16,267 ) Equity in earnings (loss) of subsidiaries, net of tax 41,447 — (207 ) (41,240 ) — Net earnings 33,493 25,978 15,284 (41,240 ) 33,515 Less: Net loss attributable to noncontrolling interests — — 22 — 22 Net earnings attributable to Caleres, Inc. $ 33,493 $ 25,978 $ 15,262 $ (41,240 ) $ 33,493 Comprehensive income $ 33,473 $ 26,526 $ 15,818 $ (42,337 ) $ 33,480 Less: Comprehensive loss attributable to noncontrolling interests — — 7 — 7 Comprehensive income attributable to Caleres, Inc. $ 33,473 $ 26,526 $ 15,811 $ (42,337 ) $ 33,473 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash (used for) provided by operating activities $ (14,071 ) $ 57,490 $ 23,072 $ — $ 66,491 Investing activities Purchases of property and equipment (2,810 ) (19,355 ) (1,346 ) — (23,511 ) Capitalized software (2,642 ) (43 ) (29 ) — (2,714 ) Acquisition of trademarks (65,065 ) — — — (65,065 ) Intercompany investing (624 ) (295 ) 919 — — Net cash used for investing activities (71,141 ) (19,693 ) (456 ) — (91,290 ) Financing activities Borrowings under revolving credit agreement 456,000 — — — 456,000 Repayments under revolving credit agreement (463,000 ) — — — (463,000 ) Dividends paid (6,110 ) — — — (6,110 ) Issuance of common stock under share-based plans, net (523 ) — — — (523 ) Tax benefit related to share-based plans 2,097 — — — 2,097 Intercompany financing 96,748 (37,797 ) (58,951 ) — — Net cash provided by (used for) financing activities 85,212 (37,797 ) (58,951 ) — (11,536 ) Effect of exchange rate changes on cash and cash equivalents — — 665 — 665 Decrease in cash and cash equivalents — — (35,670 ) — (35,670 ) Cash and cash equivalents at beginning of period — — 82,546 — 82,546 Cash and cash equivalents at end of period $ — $ — $ 46,876 $ — $ 46,876 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Earnings Per Share [Abstract] | |
Schedule Of Basic And Diluted Earnings (Loss) Per Common Share | The following table sets forth the computation of basic and diluted earnings per common share attributable to Caleres, Inc. shareholders for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended Twenty-six Weeks Ended ($ thousands, except per share amounts) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 NUMERATOR Net earnings $ 16,863 $ 18,039 $ 36,254 $ 33,515 Net (earnings) loss attributable to noncontrolling interests (38 ) 25 (168 ) (22 ) Net earnings allocated to participating securities (544 ) (669 ) (1,195 ) (1,262 ) Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities $ 16,281 $ 17,395 $ 34,891 $ 32,231 DENOMINATOR Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders 42,325 42,074 42,319 41,980 Dilutive effect of share-based awards 123 202 136 218 Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders 42,448 42,276 42,455 42,198 Basic earnings per common share attributable to Caleres, Inc. shareholders $ 0.38 $ 0.41 $ 0.82 $ 0.77 Diluted earnings per common share attributable to Caleres, Inc. shareholders $ 0.38 $ 0.41 $ 0.82 $ 0.76 |
Long-Term and Short-Term Fina23
Long-Term and Short-Term Financing Arrangements (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Long-term and short-term financing activities (Narrative) (Details) [Abstract] | |
Schedule Of Redemption Price Percentage [Table Text Block] | Year Percentage 2015 103.563 % 2016 101.781 % 2017 and thereafter 100.000 % |
Business Segment Information (T
Business Segment Information (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Segment Reporting [Abstract] | |
Schedule Of Business Segment Information | Following is a summary of certain key financial measures for the Company’s business segments for the periods ended August 1, 2015 and August 2, 2014 . Famous Footwear Brand Portfolio ($ thousands) Other Total Thirteen Weeks Ended August 1, 2015 External sales $ 395,873 $ 241,961 $ — $ 637,834 Intersegment sales — 32,962 — 32,962 Operating earnings (loss) 27,672 16,005 (7,943 ) 35,734 Segment assets 608,353 540,582 278,538 1,427,473 Thirteen Weeks Ended August 2, 2014 External sales $ 404,069 $ 231,808 $ — $ 635,877 Intersegment sales — 36,134 — 36,134 Operating earnings (loss) 25,524 17,497 (11,719 ) 31,302 Segment assets 597,262 555,042 136,778 1,289,082 Twenty-six Weeks Ended August 1, 2015 External sales $ 755,893 $ 484,224 $ — $ 1,240,117 Intersegment sales — 50,288 — 50,288 Operating earnings (loss) 55,632 27,065 (16,627 ) 66,070 Twenty-six Weeks Ended August 2, 2014 External sales $ 770,795 $ 456,244 $ — $ 1,227,039 Intersegment sales — 56,684 — 56,684 Operating earnings (loss) 52,254 28,700 (20,926 ) 60,028 |
Schedule Of Reconciliation Of Operating Earnings Before Income Taxes From Continuing Operations | Following is a reconciliation of operating earnings to earnings before income taxes: Thirteen Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Operating earnings $ 35,734 $ 31,302 $ 66,070 $ 60,028 Interest expense (4,345 ) (5,125 ) (8,808 ) (10,431 ) Loss on early extinguishment of debt (8,690 ) — (8,690 ) — Interest income 238 109 542 185 Earnings before income taxes $ 22,937 $ 26,286 $ 49,114 $ 49,782 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Goodwill And Intangible Assets | Goodwill and intangible assets attributable to the Company's operating segments were as follows: ($ thousands) August 1, 2015 August 2, 2014 January 31, 2015 Intangible Assets Famous Footwear $ 2,800 $ 3,000 $ 2,800 Brand Portfolio 183,068 183,068 183,068 Total intangible assets 185,868 186,068 185,868 Accumulated amortization (67,085 ) (63,260 ) (65,235 ) Total intangible assets, net 118,783 122,808 120,633 Goodwill Brand Portfolio 13,954 13,954 13,954 Total goodwill 13,954 13,954 13,954 Goodwill and intangible assets, net $ 132,737 $ 136,762 $ 134,587 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule Of Changes In Shareholders' Equity And Noncontrolling Interests | The following tables set forth the changes in Caleres, Inc. shareholders’ equity and noncontrolling interests for the twenty-six weeks ended August 1, 2015 and August 2, 2014 , respectively: ($ thousands) Caleres, Inc. Shareholders’ Equity Noncontrolling Interests Total Equity Equity at January 31, 2015 $ 540,910 $ 712 $ 541,622 Net earnings 36,086 168 36,254 Other comprehensive income 315 3 318 Dividends paid (6,135 ) — (6,135 ) Acquisition of treasury stock (4,921 ) — (4,921 ) Issuance of common stock under share-based plans, net (4,428 ) — (4,428 ) Tax benefit related to share-based plans 2,838 — 2,838 Share-based compensation expense 3,680 — 3,680 Equity at August 1, 2015 $ 568,345 $ 883 $ 569,228 ($ thousands) Caleres, Inc. Shareholders’ Equity Noncontrolling Interests Total Equity Equity at February 1, 2014 $ 476,699 $ 663 $ 477,362 Net earnings 33,493 22 33,515 Other comprehensive loss (35 ) (15 ) (50 ) Dividends paid (6,110 ) — (6,110 ) Issuance of common stock under share-based plans, net (523 ) — (523 ) Tax benefit related to share-based plans 2,097 — 2,097 Share-based compensation expense 2,961 — 2,961 Equity at August 2, 2014 $ 508,582 $ 670 $ 509,252 |
Schedule Of Accumulated Other Comprehensive Income (Loss) | The following table sets forth the changes in accumulated other comprehensive income by component for the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 : ($ thousands) Foreign Currency Translation Pension and Other Postretirement Transactions (1) Derivative Financial Instrument Transactions (2) Accumulated Other Comprehensive Income (Loss) Balance May 2, 2015 $ 647 $ 3,018 $ 7 $ 3,672 Other comprehensive (loss) income before reclassifications (949 ) — 625 (324 ) Reclassifications: Amounts reclassified from accumulated other comprehensive income — (401 ) (109 ) (510 ) Tax provision — 158 31 189 Net reclassifications — (243 ) (78 ) (321 ) Other comprehensive (loss) income (949 ) (243 ) 547 (645 ) Balance August 1, 2015 $ (302 ) $ 2,775 $ 554 $ 3,027 Balance May 3, 2014 $ 3,243 $ 13,559 $ 351 $ 17,153 Other comprehensive income (loss) before reclassifications 244 — (761 ) (517 ) Reclassifications: Amounts reclassified from accumulated other comprehensive (loss) income — (59 ) 55 (4 ) Tax provision (benefit) — 26 (17 ) 9 Net reclassifications — (33 ) 38 5 Other comprehensive income (loss) 244 (33 ) (723 ) (512 ) Balance August 2, 2014 $ 3,487 $ 13,526 $ (372 ) $ 16,641 Balance January 31, 2015 $ (745 ) $ 3,233 $ 224 $ 2,712 Other comprehensive income before reclassifications, net of tax 443 — 365 808 Reclassifications: Amounts reclassified from accumulated other comprehensive income — (758 ) (38 ) (796 ) Tax provision — 300 3 303 Net reclassifications — (458 ) (35 ) (493 ) Other comprehensive income (loss) 443 (458 ) 330 315 Balance August 1, 2015 $ (302 ) $ 2,775 $ 554 $ 3,027 Balance February 1, 2014 $ 2,356 $ 13,582 $ 738 $ 16,676 Other comprehensive income (loss) before reclassifications 1,131 — (1,094 ) 37 Reclassifications: Amounts reclassified from accumulated other comprehensive income — (101 ) (23 ) (124 ) Tax provision — 45 7 52 Net reclassifications — (56 ) (16 ) (72 ) Other comprehensive income (loss) 1,131 (56 ) (1,110 ) (35 ) Balance August 2, 2014 $ 3,487 $ 13,526 $ (372 ) $ 16,641 (1) Amounts reclassified are included in selling and administrative expenses. See Note 10 to the condensed consolidated financial statements for additional information related to pension and other postretirement benefits. (2) Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. See Notes 11 and 12 to the condensed consolidated financial statements for additional information related to derivative financial instruments. |
Share-Based Compensation Share-
Share-Based Compensation Share-Based Compensation (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | The following tables summarize restricted stock unit (RSU) activity for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended August 1, 2015 Thirteen Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of RSUs Total Number of RSUs May 2, 2015 331,698 $ 30.51 May 3, 2014 347,216 $ 23.96 Granted (1) 36,740 31.68 Granted (1) 39,476 28.73 August 1, 2015 368,438 $ 31.44 August 2, 2014 386,692 $ 40.88 Twenty-six Weeks Ended August 1, 2015 Twenty-six Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of RSUs Total Number of RSUs January 31, 2015 330,994 $ 28.72 February 1, 2014 346,305 $ 21.30 Granted (1) 37,444 31.69 Granted (1) 40,387 28.68 August 1, 2015 368,438 $ 31.21 August 2, 2014 386,692 $ 26.43 (1) Granted RSUs include 740 RSUs and 911 RSUs for the thirteen weeks and 1,444 RSUs and 1,687 RSUs for the twenty-six weeks ended August 1, 2015 and August 2, 2014, respectively, resulting from dividend equivalents paid on outstanding RSUs, which vested immediately. The following tables summarize restricted stock activity for the periods ended August 1, 2015 and August 2, 2014 : Thirteen Weeks Ended August 1, 2015 Thirteen Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Total Number of Restricted Shares May 2, 2015 1,462,416 $ 18.57 May 3, 2014 1,652,258 $ 15.58 Granted 8,000 31.67 Granted 8,800 28.02 Forfeited (15,000 ) 16.04 Forfeited (27,600 ) 15.73 Vested (59,800 ) 11.61 Vested (34,988 ) 16.67 August 1, 2015 1,395,616 $ 18.97 August 2, 2014 1,598,470 $ 15.60 Twenty-six Weeks Ended August 1, 2015 Twenty-six Weeks Ended August 2, 2014 Weighted- Average Grant Date Fair Value Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Total Number of Restricted Shares January 31, 2015 1,562,470 $ 15.61 February 1, 2014 1,700,098 $ 13.25 Granted 293,421 30.11 Granted 279,710 28.17 Forfeited (49,850 ) 19.51 Forfeited (27,600 ) 15.73 Vested (410,425 ) 14.15 Vested (353,738 ) 14.25 August 1, 2015 1,395,616 $ 18.97 August 2, 2014 1,598,470 $ 15.60 |
Retirement And Other Benefit 28
Retirement And Other Benefit Plans (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule Of Components Of Net Periodic Benefit (Income) Cost | The following tables set forth the components of net periodic benefit income for the Company, including domestic and Canadian plans: Pension Benefits Other Postretirement Benefits Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Service cost $ 2,993 $ 2,239 $ — $ — Interest cost 3,578 3,560 14 12 Expected return on assets (8,190 ) (6,197 ) — — Amortization of: Actuarial loss (gain) 143 67 (63 ) (132 ) Prior service (income) expense (481 ) 6 — — Total net periodic benefit income $ (1,957 ) $ (325 ) $ (49 ) $ (120 ) Pension Benefits Other Postretirement Benefits Twenty-six Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 August 1, 2015 August 2, 2014 Service cost $ 6,322 $ 4,826 $ — $ — Interest cost 7,164 7,116 28 24 Expected return on assets (15,845 ) (12,381 ) — — Amortization of: Actuarial loss (gain) 309 102 (111 ) (217 ) Prior service (income) expense (956 ) 14 — — Total net periodic benefit income $ (3,006 ) $ (323 ) $ (83 ) $ (193 ) |
Risk Management And Derivativ29
Risk Management And Derivatives (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
General Discussion of Derivative Instruments and Hedging Activities [Abstract] | |
Schedule Of Contract Notional Amount Of All Purchase And Sale Contracts Of A Foreign Currency | As of August 1, 2015 , August 2, 2014 and January 31, 2015 , the Company had forward contracts maturing at various dates through July 2016 , August 2015 and January 2016 , respectively. The contract notional amount represents the net amount of all purchase and sale contracts of a foreign currency. Contract Notional Amount (U.S. $ equivalent in thousands) August 1, 2015 August 2, 2014 January 31, 2015 Financial Instruments U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) $ 19,650 $ 20,973 $ 19,633 Euro 18,035 12,331 16,152 Chinese yuan 15,214 14,524 14,512 Japanese yen 1,208 1,613 1,523 New Taiwanese dollars 537 598 599 Other currencies 1,096 815 970 Total financial instruments $ 55,740 $ 50,854 $ 53,389 |
Schedule Of Effect Of Derivative Instruments In Cash Flow Hedging Relationships On Condensed Consolidated Statements Of Earnings And Balance Sheet | The classification and fair values of derivative instruments designated as hedging instruments included within the condensed consolidated balance sheets as of August 1, 2015 , August 2, 2014 and January 31, 2015 are as follows: Asset Derivatives Liability Derivatives ($ thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign exchange forward contracts: August 1, 2015 Prepaid expenses and other current assets $ 1,166 Other accrued expenses $ 453 August 2, 2014 Prepaid expenses and other current assets 239 Other accrued expenses 615 January 31, 2015 Prepaid expenses and other current assets 1,863 Other accrued expenses 1,784 For the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 , the effect of derivative instruments in cash flow hedging relationships on the condensed consolidated statements of earnings was as follows: Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 Foreign exchange forward contracts: Income Statement Classification Gains (Losses) - Realized Gain Recognized in OCI on Derivatives Gain Reclassified from Accumulated OCI into Earnings Gain (Loss) Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Net sales $ 35 $ 59 $ 3 $ 3 Cost of goods sold 733 7 (776 ) (64 ) Selling and administrative expenses 121 43 (253 ) 6 Interest expense 8 — (5 ) — Twenty-six Weeks Ended Twenty-six Weeks Ended ($ thousands) August 1, 2015 August 2, 2014 Foreign exchange forward contracts: Income Statement Classification Gains (Losses) - Realized Gain (Loss) Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Loss Recognized in OCI on Derivatives Gain (Loss) Reclassified from Accumulated OCI into Earnings Net sales $ 60 $ 113 $ (4 ) $ 16 Cost of goods sold 532 (122 ) (757 ) (11 ) Selling and administrative expenses 33 47 (709 ) 18 Interest expense (14 ) — (17 ) — |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis | The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at August 1, 2015 , August 2, 2014 and January 31, 2015 . The Company did not have any transfers between Level 1 and Level 2 during 2014 or the twenty-six weeks ended August 1, 2015 . Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) As of August 1, 2015: Cash equivalents – money market funds $ 91,709 $ 91,709 $ — $ — Non-qualified deferred compensation plan assets 3,879 3,879 — — Non-qualified deferred compensation plan liabilities (3,879 ) (3,879 ) — — Deferred compensation plan liabilities for non-employee directors (2,423 ) (2,423 ) — — Restricted stock units for non-employee directors (10,263 ) (10,263 ) — — Performance share units (3,518 ) (3,518 ) — — Derivative financial instruments, net 713 — 713 — Secured convertible note 7,118 — — 7,118 As of August 2, 2014: Cash equivalents – money market funds $ 8,457 $ 8,457 $ — $ — Non-qualified deferred compensation plan assets 2,765 2,765 — — Non-qualified deferred compensation plan liabilities (2,765 ) (2,765 ) — — Deferred compensation plan liabilities for non-employee directors (1,983 ) (1,983 ) — — Restricted stock units for non-employee directors (8,103 ) (8,103 ) — — Performance share units (895 ) (895 ) — — Derivative financial instruments, net (376 ) — (376 ) — As of January 31, 2015: Cash equivalents – money market funds $ 35,533 $ 35,533 $ — $ — Non-qualified deferred compensation plan assets 2,904 2,904 — — Non-qualified deferred compensation plan liabilities (2,904 ) (2,904 ) — — Deferred compensation plan liabilities for non-employee directors (2,066 ) (2,066 ) — — Restricted stock units for non-employee directors (8,857 ) (8,857 ) — — Performance share units (5,147 ) (5,147 ) — — Derivative financial instruments, net 79 — 79 — Secured convertible note 6,957 — — 6,957 |
Schedule Of Fair Value Of Financial Instruments | The fair values of cash and cash equivalents (excluding money market funds discussed above), receivables and trade accounts payable approximate their carrying values due to the short-term nature of these instruments. August 1, 2015 August 2, 2014 January 31, 2015 Carrying Fair Carrying Fair Carrying Fair ($ thousands) Amount Value Amount Value Amount Value Current portion of long-term debt $ 39,157 $ 40,823 $ — $ — $ — $ — Long-term debt 200,000 202,000 199,104 210,750 199,197 208,000 |
Financial Information For The31
Financial Information For The Company And Its Subsidiaries (Tables) | 6 Months Ended |
Aug. 01, 2015 | |
Financial Information For The Company And Its Subsidiaries [Abstract] | |
Schedule Of Condensed Consolidating Balance Sheet | UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET AS OF AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ — $ — $ 46,876 $ — $ 46,876 Receivables, net 85,285 2,491 37,708 — 125,484 Inventories, net 160,581 470,596 26,479 — 657,656 Prepaid expenses and other current assets 11,869 20,278 7,020 — 39,167 Intercompany receivable – current 1,958 — 19,165 (21,123 ) — Total current assets 259,693 493,365 137,248 (21,123 ) 869,183 Other assets 119,473 13,455 1,851 — 134,779 Goodwill and intangible assets, net 119,041 2,800 14,921 — 136,762 Property and equipment, net 26,935 112,203 9,220 — 148,358 Investment in subsidiaries 886,736 — (19,151 ) (867,585 ) — Intercompany receivable – noncurrent 450,516 278,910 485,949 (1,215,375 ) — Total assets $ 1,862,394 $ 900,733 $ 630,038 $ (2,104,083 ) $ 1,289,082 Liabilities and Equity Current liabilities Trade accounts payable $ 104,054 $ 192,787 $ 44,853 $ — $ 341,694 Other accrued expenses 49,838 94,649 14,665 — 159,152 Intercompany payable – current 6,143 — 14,980 (21,123 ) — Total current liabilities 160,035 287,436 74,498 (21,123 ) 500,846 Other liabilities Long-term debt 199,104 — — — 199,104 Other liabilities 34,659 37,543 7,678 — 79,880 Intercompany payable – noncurrent 960,014 38,569 216,792 (1,215,375 ) — Total other liabilities 1,193,777 76,112 224,470 (1,215,375 ) 278,984 Equity Caleres, Inc. shareholders’ equity 508,582 537,185 330,400 (867,585 ) 508,582 Noncontrolling interests — — 670 — 670 Total equity 508,582 537,185 331,070 (867,585 ) 509,252 Total liabilities and equity $ 1,862,394 $ 900,733 $ 630,038 $ (2,104,083 ) $ 1,289,082 CONDENSED CONSOLIDATING BALANCE SHEET AS OF JANUARY 31, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 13,891 $ — $ 53,512 $ — $ 67,403 Receivables, net 89,030 5,398 42,218 — 136,646 Inventories, net 148,082 376,254 18,767 — 543,103 Prepaid expenses and other current assets 41,494 20,777 8,964 (27,491 ) 43,744 Intercompany receivable – current 1,194 — 8,750 (9,944 ) — Total current assets 293,691 402,429 132,211 (37,435 ) 790,896 Other assets 113,922 13,733 13,931 — 141,586 Goodwill and intangible assets, net 117,792 2,800 13,995 — 134,587 Property and equipment, net 29,237 109,720 10,786 — 149,743 Investment in subsidiaries 956,831 — (18,909 ) (937,922 ) — Intercompany receivable – noncurrent 459,774 306,871 539,396 (1,306,041 ) — Total assets $ 1,971,247 $ 835,553 $ 691,410 $ (2,281,398 ) $ 1,216,812 Liabilities and Equity Current liabilities Trade accounts payable $ 60,377 $ 114,208 $ 41,336 $ — $ 215,921 Other accrued expenses 110,714 85,638 12,301 (27,491 ) 181,162 Intercompany payable – current 4,948 — 4,996 (9,944 ) — Total current liabilities 176,039 199,846 58,633 (37,435 ) 397,083 Other liabilities Long-term debt 199,197 — — — 199,197 Other liabilities 41,847 32,574 4,489 — 78,910 Intercompany payable – noncurrent 1,013,254 21,078 271,709 (1,306,041 ) — Total other liabilities 1,254,298 53,652 276,198 (1,306,041 ) 278,107 Equity Caleres, Inc. shareholders’ equity 540,910 582,055 355,867 (937,922 ) 540,910 Noncontrolling interests — — 712 — 712 Total equity 540,910 582,055 356,579 (937,922 ) 541,622 Total liabilities and equity $ 1,971,247 $ 835,553 $ 691,410 $ (2,281,398 ) $ 1,216,812 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET AS OF AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 42,738 $ 12,742 $ 73,865 $ — $ 129,345 Restricted cash 41,482 — — — 41,482 Receivables, net 102,455 2,635 39,123 — 144,213 Inventories, net 158,061 458,869 24,198 — 641,128 Prepaid expenses and other current assets 12,032 22,554 6,416 — 41,002 Intercompany receivable – current 369 120 14,122 (14,611 ) — Total current assets 357,137 496,920 157,724 (14,611 ) 997,170 Other assets 133,056 15,227 (1,556 ) — 146,727 Goodwill and intangible assets, net 116,670 2,800 13,267 — 132,737 Property and equipment, net 31,530 109,463 9,846 — 150,839 Investment in subsidiaries 1,010,293 — (18,530 ) (991,763 ) — Intercompany receivable – noncurrent 425,872 359,067 533,324 (1,318,263 ) — Total assets $ 2,074,558 $ 983,477 $ 694,075 $ (2,324,637 ) $ 1,427,473 Liabilities and Equity Current liabilities Current portion of long-term debt $ 39,157 $ — $ — $ — $ 39,157 Trade accounts payable 121,213 222,148 39,265 — 382,626 Other accrued expenses 44,465 96,992 14,649 — 156,106 Intercompany payable – current 5,211 297 9,103 (14,611 ) — Total current liabilities 210,046 319,437 63,017 (14,611 ) 577,889 Other liabilities Long-term debt 200,000 — — — 200,000 Other liabilities 44,049 33,812 2,495 — 80,356 Intercompany payable – noncurrent 1,052,118 37,745 228,400 (1,318,263 ) — Total other liabilities 1,296,167 71,557 230,895 (1,318,263 ) 280,356 Equity Caleres, Inc. shareholders’ equity 568,345 592,483 399,280 (991,763 ) 568,345 Noncontrolling interests — — 883 — 883 Total equity 568,345 592,483 400,163 (991,763 ) 569,228 Total liabilities and equity $ 2,074,558 $ 983,477 $ 694,075 $ (2,324,637 ) $ 1,427,473 |
Schedule Of Condensed Consolidating Statement Of Comprehensive Income (Loss) | UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FOR THE TWENTY-SIX WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 389,160 $ 795,906 $ 136,150 $ (81,099 ) $ 1,240,117 Cost of goods sold 282,343 427,354 84,526 (65,427 ) 728,796 Gross profit 106,817 368,552 51,624 (15,672 ) 511,321 Selling and administrative expenses 113,197 316,310 31,416 (15,672 ) 445,251 Operating (loss) earnings (6,380 ) 52,242 20,208 — 66,070 Interest expense (8,807 ) (1 ) — — (8,808 ) Loss on early extinguishment of debt (8,690 ) — — — (8,690 ) Interest income 448 — 94 — 542 Intercompany interest income (expense) 7,109 (7,193 ) 84 — — (Loss) earnings before income taxes (16,320 ) 45,048 20,386 — 49,114 Income tax benefit (provision) 5,335 (15,590 ) (2,605 ) — (12,860 ) Equity in earnings of subsidiaries, net of tax 47,071 — 378 (47,449 ) — Net earnings 36,086 29,458 18,159 (47,449 ) 36,254 Less: Net earnings attributable to noncontrolling interests — — 168 — 168 Net earnings attributable to Caleres, Inc. $ 36,086 $ 29,458 $ 17,991 $ (47,449 ) $ 36,086 Comprehensive income $ 36,398 $ 29,570 $ 18,275 $ (47,674 ) $ 36,569 Less: Comprehensive income attributable to noncontrolling interests — — 171 — 171 Comprehensive income attributable to Caleres, Inc. $ 36,398 $ 29,570 $ 18,104 $ (47,674 ) $ 36,398 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 362,758 $ 795,330 $ 158,931 $ (89,980 ) $ 1,227,039 Cost of goods sold 263,899 433,619 103,156 (75,618 ) 725,056 Gross profit 98,859 361,711 55,775 (14,362 ) 501,983 Selling and administrative expenses 106,346 310,783 39,188 (14,362 ) 441,955 Operating (loss) earnings (7,487 ) 50,928 16,587 — 60,028 Interest expense (10,430 ) (1 ) — — (10,431 ) Interest income 13 — 172 — 185 Intercompany interest income (expense) 7,802 (7,720 ) (82 ) — — (Loss) earnings before income taxes (10,102 ) 43,207 16,677 — 49,782 Income tax benefit (provision) 2,148 (17,229 ) (1,186 ) — (16,267 ) Equity in earnings (loss) of subsidiaries, net of tax 41,447 — (207 ) (41,240 ) — Net earnings 33,493 25,978 15,284 (41,240 ) 33,515 Less: Net loss attributable to noncontrolling interests — — 22 — 22 Net earnings attributable to Caleres, Inc. $ 33,493 $ 25,978 $ 15,262 $ (41,240 ) $ 33,493 Comprehensive income $ 33,473 $ 26,526 $ 15,818 $ (42,337 ) $ 33,480 Less: Comprehensive loss attributable to noncontrolling interests — — 7 — 7 Comprehensive income attributable to Caleres, Inc. $ 33,473 $ 26,526 $ 15,811 $ (42,337 ) $ 33,473 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE THIRTEEN WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 196,809 $ 415,717 $ 81,169 $ (55,861 ) $ 637,834 Cost of goods sold 144,750 225,771 47,563 (43,045 ) 375,039 Gross profit 52,059 189,946 33,606 (12,816 ) 262,795 Selling and administrative expenses 60,220 164,064 15,593 (12,816 ) 227,061 Operating (loss) earnings (8,161 ) 25,882 18,013 — 35,734 Interest expense (4,345 ) — — — (4,345 ) Loss on early extinguishment of debt (8,690 ) — — — (8,690 ) Interest income 196 — 42 — 238 Intercompany interest income (expense) 3,432 (3,471 ) 39 — — (Loss) earnings before income taxes (17,568 ) 22,411 18,094 — 22,937 Income tax benefit (provision) 3,651 (7,570 ) (2,155 ) — (6,074 ) Equity in earnings of subsidiaries, net of tax 30,742 — 394 (31,136 ) — Net earnings 16,825 14,841 16,333 (31,136 ) 16,863 Less: Net earnings attributable to noncontrolling interests — — 38 — 38 Net earnings attributable to Caleres, Inc. $ 16,825 $ 14,841 $ 16,295 $ (31,136 ) $ 16,825 Comprehensive income $ 16,181 $ 14,229 $ 15,719 $ (29,911 ) $ 16,218 Less: Comprehensive income attributable to noncontrolling interests — — 37 — 37 Comprehensive income attributable to Caleres, Inc. $ 16,181 $ 14,229 $ 15,682 $ (29,911 ) $ 16,181 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE THIRTEEN WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 183,598 $ 417,917 $ 94,578 $ (60,216 ) $ 635,877 Cost of goods sold 136,433 229,064 60,154 (49,416 ) 376,235 Gross profit 47,165 188,853 34,424 (10,800 ) 259,642 Selling and administrative expenses 57,149 164,142 17,849 (10,800 ) 228,340 Operating (loss) earnings (9,984 ) 24,711 16,575 — 31,302 Interest expense (5,125 ) — — — (5,125 ) Interest income 12 — 97 — 109 Intercompany interest income (expense) 3,828 (3,787 ) (41 ) — — (Loss) earnings before income taxes (11,269 ) 20,924 16,631 — 26,286 Income tax benefit (provision) 1,684 (8,375 ) (1,556 ) — (8,247 ) Equity in earnings of subsidiaries, net of tax 27,649 — 81 (27,730 ) — Net earnings 18,064 12,549 15,156 (27,730 ) 18,039 Less: Net earnings attributable to noncontrolling interests — — (25 ) — (25 ) Net earnings attributable to Caleres, Inc. $ 18,064 $ 12,549 $ 15,181 $ (27,730 ) $ 18,064 Comprehensive income $ 17,555 $ 12,541 $ 15,143 $ (27,712 ) $ 17,527 Less: Comprehensive income attributable to noncontrolling interests — — (28 ) — (28 ) Comprehensive income attributable to Caleres, Inc. $ 17,555 $ 12,541 $ 15,171 $ (27,712 ) $ 17,555 |
Schedule Of Condensed Consolidating Statement Of Cash Flows | UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash (used for) provided by operating activities $ (14,071 ) $ 57,490 $ 23,072 $ — $ 66,491 Investing activities Purchases of property and equipment (2,810 ) (19,355 ) (1,346 ) — (23,511 ) Capitalized software (2,642 ) (43 ) (29 ) — (2,714 ) Acquisition of trademarks (65,065 ) — — — (65,065 ) Intercompany investing (624 ) (295 ) 919 — — Net cash used for investing activities (71,141 ) (19,693 ) (456 ) — (91,290 ) Financing activities Borrowings under revolving credit agreement 456,000 — — — 456,000 Repayments under revolving credit agreement (463,000 ) — — — (463,000 ) Dividends paid (6,110 ) — — — (6,110 ) Issuance of common stock under share-based plans, net (523 ) — — — (523 ) Tax benefit related to share-based plans 2,097 — — — 2,097 Intercompany financing 96,748 (37,797 ) (58,951 ) — — Net cash provided by (used for) financing activities 85,212 (37,797 ) (58,951 ) — (11,536 ) Effect of exchange rate changes on cash and cash equivalents — — 665 — 665 Decrease in cash and cash equivalents — — (35,670 ) — (35,670 ) Cash and cash equivalents at beginning of period — — 82,546 — 82,546 Cash and cash equivalents at end of period $ — $ — $ 46,876 $ — $ 46,876 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE TWENTY-SIX WEEKS ENDED AUGUST 1, 2015 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash (used for) provided by operating activities $ (3,561 ) $ 71,298 $ 33,518 $ — $ 101,255 Investing activities Purchases of property and equipment (9,933 ) (14,470 ) (469 ) — (24,872 ) Disposals of property and equipment 7,111 — — — 7,111 Capitalized software (1,959 ) (739 ) — — (2,698 ) Intercompany investing (253 ) 253 — — — Net cash used for investing activities (5,034 ) (14,956 ) (469 ) — (20,459 ) Financing activities Borrowings under revolving credit agreement 86,000 — — — 86,000 Repayments under revolving credit agreement (86,000 ) — — — (86,000 ) Proceeds from issuance of 2023 senior notes 200,000 — — — 200,000 Redemption of 2019 senior notes (160,700 ) — — — (160,700 ) Restricted cash (41,482 ) — — — (41,482 ) Debt issuance costs (3,650 ) — — — (3,650 ) Dividends paid (6,135 ) — — — (6,135 ) Acquisition of treasury stock (4,921 ) — — — (4,921 ) Issuance of common stock under share-based plans, net (4,428 ) — — — (4,428 ) Tax benefit related to share-based plans 2,838 — — — 2,838 Intercompany financing 55,920 (43,600 ) (12,320 ) — — Net cash provided by (used for) financing activities 37,442 (43,600 ) (12,320 ) — (18,478 ) Effect of exchange rate changes on cash and cash equivalents — — (376 ) — (376 ) Increase in cash and cash equivalents 28,847 12,742 20,353 — 61,942 Cash and cash equivalents at beginning of period 13,891 — 53,512 — 67,403 Cash and cash equivalents at end of period $ 42,738 $ 12,742 $ 73,865 $ — $ 129,345 |
Dispositions (Narrative) (Detai
Dispositions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Dec. 12, 2014 | Aug. 01, 2015 | May. 02, 2015 | Aug. 01, 2015 | Dec. 12, 2019 | Dec. 11, 2018 | Dec. 11, 2017 | Dec. 11, 2017 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||
Net sales | $ 0 | |||||||
Sale price | $ 15,000 | |||||||
Proceeds from business disposition | 4,400 | |||||||
Note receivable | 7,500 | |||||||
Disposal Group, Including Discontinued Operations, Notes Receivable, First Periodic Payment Due | 1,250 | |||||||
Disposal Group, Including Discontinued Operations, Notes Receivable, Periodic Payment Due After First installment | $ 600 | |||||||
Promissory note interest rate | 9.00% | 8.00% | 7.00% | 6.00% | ||||
Debt Instrument, Convertible, Conversion Price | $ 21.50 | |||||||
Notes Receivable, Fair Value Disclosure | $ 7,100 | $ 7,100 | ||||||
Interest Income, Other | 100 | $ 200 | ||||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 1,200 |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
NUMERATOR | ||||
Net earnings | $ 16,863 | $ 18,039 | $ 36,254 | $ 33,515 |
Net earnings attributable to noncontrolling interests | (38) | 25 | (168) | (22) |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 544 | 669 | 1,195 | 1,262 |
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities | $ 16,281 | $ 17,395 | $ 34,891 | $ 32,231 |
DENOMINATOR | ||||
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders | 42,325,000 | 42,074,000 | 42,319,000 | 41,980,000 |
Dilutive effect of share-based awards | 123,000 | 202,000 | 136,000 | 218,000 |
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders | 42,448,000 | 42,276,000 | 42,455,000 | 42,198,000 |
Basic earnings (loss) per common share: | ||||
Basic earnings per common share attributable to Caleres, Inc. shareholders | $ 0.38 | $ 0.41 | $ 0.82 | $ 0.77 |
Diluted earnings (loss) per common share: | ||||
Diluted earnings per common share attributable to Caleres, Inc. shareholders | $ 0.38 | $ 0.41 | $ 0.82 | $ 0.76 |
Options to purchase common stock, not included in computation of diluted earnings per common share | 61,497 | 64,497 |
Long-Term and Short-Term Fina34
Long-Term and Short-Term Financing Arrangements (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Aug. 01, 2015 | Aug. 01, 2015 | Jan. 31, 2015 | |
Debt Instrument [Line Items] | |||
Restricted Cash and Cash Equivalents | $ 41,482 | $ 41,482 | |
Gains (Losses) on Extinguishment of Debt | (8,690) | $ (8,690) | |
Line of Credit Facility, Expiration Date | Dec. 18, 2019 | ||
Line of Credit Facility, Maximum Borrowing Capacity | 600,000 | $ 600,000 | |
Line Of Credit Borrowing Capacity Increase Option | 150,000 | $ 150,000 | |
Line Of Credit Facility Percentage Of Borrowing Base Under Condition One | 13.00% | ||
Number of consecutive business days for borrowing base availability over minimum under condition one | 30 days | ||
Line Of Credit Facility Percentage Of Borrowing Base Under Condition Two | 10.00% | ||
Line Of Credit Facility Borrowing Base Availability Under Condition Two | $ 50,000 | ||
Line of Credit Facility, Maximum Month-end Outstanding Amount | 6,300 | 6,300 | |
Line of Credit Facility, Remaining Borrowing Capacity | 593,700 | 593,700 | |
Debt Instrument, Face Amount | $ 200,000 | $ 200,000 | |
Two Thousand Nineteen Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.125% |
Business Segment Information (S
Business Segment Information (Schedule Of Business Segment Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | Jan. 31, 2015 | |
Segment Reporting Information [Line Items] | |||||
External sales | $ 637,834 | $ 635,877 | $ 1,240,117 | $ 1,227,039 | |
Intersegment sales | 32,962 | 36,134 | 50,288 | 56,684 | |
Operating earnings (loss) | 35,734 | 31,302 | 66,070 | 60,028 | |
Segment assets | 1,427,473 | 1,289,082 | 1,427,473 | 1,289,082 | $ 1,216,812 |
Continuing Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Segment assets | 1,427,473 | 1,289,082 | 1,427,473 | 1,289,082 | |
Famous Footwear [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External sales | 395,873 | 404,069 | 755,893 | 770,795 | |
Intersegment sales | 0 | 0 | 0 | 0 | |
Operating earnings (loss) | 27,672 | 25,524 | 55,632 | 52,254 | |
Famous Footwear [Member] | Continuing Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Segment assets | 608,353 | 597,262 | 608,353 | 597,262 | |
Wholesale Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External sales | 241,961 | 231,808 | 484,224 | 456,244 | |
Intersegment sales | 32,962 | 36,134 | 50,288 | 56,684 | |
Operating earnings (loss) | 16,005 | 17,497 | 27,065 | 28,700 | |
Wholesale Operations [Member] | Continuing Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Segment assets | 540,582 | 555,042 | 540,582 | 555,042 | |
Other Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
External sales | 0 | 0 | 0 | 0 | |
Intersegment sales | 0 | 0 | 0 | 0 | |
Operating earnings (loss) | (7,943) | (11,719) | (16,627) | (20,926) | |
Other Segment [Member] | Continuing Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Segment assets | $ 278,538 | $ 136,778 | $ 278,538 | $ 136,778 |
Business Segment Information 36
Business Segment Information (Schedule Of Reconciliation Of Operating Earnings Before Income Taxes From Continuing Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Segment Reporting [Abstract] | ||||
Operating earnings | $ 35,734 | $ 31,302 | $ 66,070 | $ 60,028 |
Interest expense | (4,345) | (5,125) | (8,808) | (10,431) |
Gains (Losses) on Extinguishment of Debt | (8,690) | (8,690) | ||
Interest income | 238 | 109 | 542 | 185 |
Earnings before income taxes | $ 22,937 | $ 26,286 | $ 49,114 | $ 49,782 |
Goodwill And Intangible Asset37
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | Feb. 03, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | Jan. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||||||
Intangible assets not subject to amortization | $ 20,800 | $ 20,800 | $ 21,000 | |||
Amortization expense related to intangible assets | 1,850 | $ 1,976 | ||||
Intangible assets acquired | $ (65,000) | 0 | 65,065 | |||
Transaction costs | $ 100 | |||||
Intangible Assets, Explanation of Significant Deletions | .2 | |||||
Primarily Owned and Licensed Trademarks [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Amortization expense related to intangible assets | $ 900 | $ 1,000 | $ 1,900 | $ 2,000 | ||
Trademarks [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Intangible assets, estimated useful lives | 40 years | |||||
Minimum [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Intangible assets, estimated useful lives | 15 years | |||||
Maximum [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Intangible assets, estimated useful lives | 40 years |
Goodwill And Intangible Asset38
Goodwill And Intangible Assets (Schedule Of Goodwill And Intangible Assets) (Details) - USD ($) $ in Thousands | Aug. 01, 2015 | Jan. 31, 2015 | Aug. 02, 2014 |
Finite-Lived Intangible Assets [Line Items] | |||
Total intangible assets | $ 185,868 | $ 185,868 | $ 186,068 |
Accumulated amortization | (67,085) | (65,235) | (63,260) |
Total intangible assets, net | 118,783 | 120,633 | 122,808 |
Goodwill | 13,954 | 13,954 | 13,954 |
Goodwill and intangible assets, net | 132,737 | 134,587 | 136,762 |
Famous Footwear [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total intangible assets | 2,800 | 2,800 | 3,000 |
Wholesale Operations [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | 13,954 | 13,954 | 13,954 |
Specialty Retail [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total intangible assets | $ 183,068 | $ 183,068 | $ 183,068 |
Shareholders' Equity (Schedule
Shareholders' Equity (Schedule Of Changes In Shareholders' Equity And Noncontrolling Interests) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | May. 02, 2015 | |
Shareholders' Equity [Line Items] | |||||
Net Income (Loss) Attributable to Parent | $ 16,825 | $ 18,064 | $ 36,086 | $ 33,493 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Equity, beginning balance | 541,622 | ||||
Net earnings | 16,863 | 18,039 | 36,254 | 33,515 | |
Other comprehensive income (loss) | (645) | (512) | 315 | (35) | |
Treasury Stock, Value | (4,921) | (4,921) | $ (4,921) | ||
Issuance of common stock under share-based plans, net | (4,428) | (523) | |||
Share-based compensation expense | 1,993 | 1,406 | 3,680 | 2,961 | |
Equity, ending balance | 569,228 | 509,252 | 569,228 | 509,252 | |
Caleres, Inc. Shareholders' Equity [Member] | |||||
Shareholders' Equity [Line Items] | |||||
Net Income (Loss) Attributable to Parent | 16,825 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Equity, beginning balance | 540,910 | 476,699 | |||
Net earnings | 33,493 | ||||
Other comprehensive income (loss) | (645) | 315 | (35) | ||
Dividends paid | (6,135) | (6,110) | |||
Treasury Stock, Value | (4,921) | (4,921) | |||
Issuance of common stock under share-based plans, net | (4,428) | (523) | |||
Tax benefit related to share-based plans | 2,838 | 2,097 | |||
Share-based compensation expense | 3,680 | 2,961 | |||
Equity, ending balance | 568,345 | 508,582 | 568,345 | 508,582 | |
Noncontrolling Interests [Member] | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Equity, beginning balance | 712 | 663 | |||
Net earnings | 168 | 22 | |||
Other comprehensive income (loss) | 3 | (15) | |||
Equity, ending balance | 883 | 670 | 883 | 670 | |
Total Equity [Member] | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Equity, beginning balance | 541,622 | 477,362 | |||
Net earnings | 36,254 | 33,515 | |||
Other comprehensive income (loss) | 318 | (50) | |||
Dividends paid | (6,135) | (6,110) | |||
Treasury Stock, Value | (4,921) | (4,921) | |||
Issuance of common stock under share-based plans, net | (4,428) | (523) | |||
Tax benefit related to share-based plans | 2,838 | 2,097 | |||
Share-based compensation expense | 3,680 | 2,961 | |||
Equity, ending balance | $ 569,228 | $ 509,252 | $ 569,228 | $ 509,252 |
Shareholders' Equity (Schedul40
Shareholders' Equity (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | $ 3,672 | $ 17,153 | $ 2,712 | $ 16,676 |
Other comprehensive income (loss) before reclassifications | (324) | (517) | 808 | 37 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | (796) | (124) | ||
Amounts reclassified from accumulated other comprehensive income | (510) | (4) | (493) | (72) |
Income Tax Expense (Benefit) | (6,074) | (8,247) | (12,860) | (16,267) |
Other comprehensive income (loss) | (645) | (512) | 315 | (35) |
Balance, ending | 3,027 | 16,641 | 3,027 | 16,641 |
Foreign Currency Translation [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | 647 | 3,243 | (745) | 2,356 |
Other comprehensive income (loss) before reclassifications | (949) | 244 | 443 | 1,131 |
Other comprehensive income (loss) | (949) | 244 | 443 | 1,131 |
Balance, ending | (302) | 3,487 | (302) | 3,487 |
Pension and Other Postretirement Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | 3,018 | 13,559 | 3,233 | 13,582 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | (758) | (101) | ||
Amounts reclassified from accumulated other comprehensive income | (401) | (59) | (458) | (56) |
Other comprehensive income (loss) | (243) | (33) | (458) | (56) |
Balance, ending | 2,775 | 13,526 | 2,775 | 13,526 |
Derivative Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | 7 | 351 | 224 | 738 |
Other comprehensive income (loss) before reclassifications | 625 | (761) | 365 | (1,094) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | (38) | (23) | ||
Amounts reclassified from accumulated other comprehensive income | (109) | 55 | (35) | (16) |
Other comprehensive income (loss) | 547 | (723) | 330 | (1,110) |
Balance, ending | 554 | (372) | 554 | (372) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income Tax Expense (Benefit) | 189 | 9 | 303 | 52 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension and Other Postretirement Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income Tax Expense (Benefit) | 158 | 26 | 300 | 45 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Derivative Transactions [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Income Tax Expense (Benefit) | $ 31 | $ (17) | $ 3 | $ 7 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Aug. 01, 2015 | May. 02, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | Jan. 31, 2015 | May. 03, 2014 | Feb. 01, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 18.97 | $ 18.57 | $ 15.60 | $ 18.97 | $ 15.60 | $ 15.61 | $ 15.58 | $ 13.25 |
Share-based compensation expense | $ 1,993 | $ 1,406 | $ 3,680 | $ 2,961 | ||||
Shares of common stock issued during the period | 20,163 | 62,117 | 364,842 | 514,242 | ||||
Weighted-average grant date fair value of stock | $ 31.67 | $ 28.02 | $ 30.11 | $ 28.17 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 16.04 | 15.73 | $ 19.51 | 15.73 | ||||
Minimum pay out percentage | 0.00% | |||||||
Maximum pay out percentage | 200.00% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 11.61 | $ 16.67 | $ 14.15 | $ 14.25 | ||||
Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,395,616 | 1,462,416 | 1,598,470 | 1,395,616 | 1,598,470 | 1,562,470 | 1,652,258 | 1,700,098 |
Number of stock shares granted | 8,000 | 8,800 | 293,421 | 279,710 | ||||
Weighted-average grant date fair value of stock | $ 28.17 | |||||||
Cancelled shares of stock as a result of forfeitures of restricted stock awards | (15,000) | (27,600) | (49,850) | (27,600) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (59,800) | (34,988) | (410,425) | (353,738) | ||||
Performance Share Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 177,921 | 88,185 | ||||||
Weighted-average grant date fair value of stock | $ 30.12 | $ 28.18 | ||||||
Maximum pay out percentage | 200.00% | |||||||
Requisite service period | 3 years | |||||||
Non-Employee Directors [Member] | Performance Share Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 0 | 16,667 | ||||||
Weighted-average grant date fair value of stock | $ 29.18 | |||||||
Five Year Vesting Period [Member] | Non-Employee Directors [Member] | Performance Share Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 8,334 | |||||||
Four Year Vesting Period [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 280,921 | 277,910 | ||||||
Four Year Vesting Period [Member] | Non-Employee Directors [Member] | Performance Share Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 8,333 | |||||||
One Year Vesting Period [Member] | Restricted Stock [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of stock shares granted | 12,500 | 1,800 | ||||||
Thirteen weeks | Non-Employee Directors [Member] | Restricted Stock Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 368,438 | 331,698 | 386,692 | 368,438 | 386,692 | 347,216 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 31.44 | $ 30.51 | $ 40.88 | $ 31.44 | $ 40.88 | $ 23.96 | ||
Number of stock shares granted | 36,740 | 39,476 | ||||||
Weighted-average grant date fair value of stock | $ 31.68 | $ 28.73 | ||||||
Twenty-six weeks | Non-Employee Directors [Member] | Restricted Stock Units [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 368,438 | 386,692 | 368,438 | 386,692 | 330,994 | 346,305 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 31.21 | $ 26.43 | $ 31.21 | $ 26.43 | $ 28.72 | $ 21.30 | ||
Number of stock shares granted | 37,444 | 40,387 | ||||||
Weighted-average grant date fair value of stock | $ 31.69 | $ 28.68 |
Retirement And Other Benefit 42
Retirement And Other Benefit Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 2,993 | $ 2,239 | $ 6,322 | $ 4,826 |
Interest cost | 3,578 | 3,560 | 7,164 | 7,116 |
Expected return on assets | (8,190) | (6,197) | (15,845) | (12,381) |
Amortization of: | ||||
Actuarial loss (gain) | 143 | 67 | 309 | 102 |
Prior service (income) expense | (481) | 6 | (956) | 14 |
Total net periodic benefit (income) cost | (1,957) | (325) | (3,006) | (323) |
Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 14 | 12 | 28 | 24 |
Expected return on assets | 0 | 0 | 0 | 0 |
Amortization of: | ||||
Actuarial loss (gain) | (63) | (132) | (111) | (217) |
Prior service (income) expense | 0 | 0 | 0 | 0 |
Total net periodic benefit (income) cost | $ (49) | $ (120) | $ (83) | $ (193) |
Risk Management And Derivativ43
Risk Management And Derivatives (Schedule Of Contract Notional Amount Of All Purchase And Sale Contracts Of A Foreign Currency) (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Feb. 01, 2014 | Jan. 31, 2015 | |
Derivative [Line Items] | ||||
Derivative, Maturity Date | Jul. 29, 2016 | |||
Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Maturity Date | Jul. 29, 2016 | Aug. 31, 2015 | Jan. 1, 2016 | |
Notional contract amount of all purchase and sale contracts of a foreign currency | $ 55,740 | $ 50,854 | $ 53,389 | |
U.S. Dollars (Purchased By The Company's Canadian Division With Canadian Dollars) [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | 19,650 | 20,973 | 19,633 | |
Chinese Yuan [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | 15,214 | 14,524 | 14,512 | |
Euro [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | 18,035 | 12,331 | 16,152 | |
Japanese Yen [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | 1,208 | 1,613 | 1,523 | |
Taiwan, New Dollars | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | 537 | 598 | 599 | |
Other Currencies [Member] | Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Notional contract amount of all purchase and sale contracts of a foreign currency | $ 1,096 | $ 815 | $ 970 |
Risk Management And Derivativ44
Risk Management And Derivatives (Schedule Of Fair Values Of Derivative Instruments Designated As Hedging Instruments Included Within The Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands | Aug. 01, 2015 | Jan. 31, 2015 | Aug. 02, 2014 |
Prepaid Expenses and Other Current Assets [Member] | |||
Derivative [Line Items] | |||
Asset Derivatives, Fair Value | $ 1,166 | $ 1,863 | $ 239 |
Other Accrued Expenses [Member] | |||
Derivative [Line Items] | |||
Liability Derivatives, Fair Value | $ 453 | $ 1,784 | $ 615 |
Risk Management And Derivativ45
Risk Management And Derivatives (Schedule Of Effect Of Derivative Instruments In Cash Flow Hedging Relationships On The Condensed Consolidated Statements Of Earnings) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Net Sales [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in OCI on Derivatives | $ 35 | $ 3 | $ 60 | $ (4) |
Gain (Loss) Reclassified from Accumulated OCI into Earnings | 59 | 3 | 113 | 16 |
Cost Of Goods Sold [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in OCI on Derivatives | 733 | (776) | 532 | (757) |
Gain (Loss) Reclassified from Accumulated OCI into Earnings | 7 | (64) | (122) | (11) |
Selling And Administrative Expenses [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in OCI on Derivatives | 121 | (253) | 33 | (709) |
Gain (Loss) Reclassified from Accumulated OCI into Earnings | 43 | 6 | 47 | 18 |
Interest Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in OCI on Derivatives | 8 | (5) | (14) | (17) |
Gain (Loss) Reclassified from Accumulated OCI into Earnings | $ 0 | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Aug. 01, 2015 | May. 02, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Deferral percentage of base salary | 50.00% | ||||
Percentage component of compensation allowed as deferral under deferred compensation plan | 100.00% | ||||
Minimum pay out percentage | 0.00% | ||||
Maximum pay out percentage | 200.00% | ||||
Long-lived assets held for use | $ 82,300 | $ 85,500 | |||
Selling and Administrative Expenses [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impairment charge of long-lived assets | $ 433 | $ 483 | 858 | ||
Selling and Administrative Expenses [Member] | Famous Footwear [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impairment charge of long-lived assets | $ 300 | 200 | 500 | 400 | |
Selling and Administrative Expenses [Member] | Specialty Retail [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impairment charge of long-lived assets | $ 200 | $ 200 | $ 400 | $ 300 | |
Performance Share Units [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Requisite service period | 3 years | ||||
Maximum pay out percentage | 200.00% |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
May. 02, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Jan. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Long Lived Assets Held For Use | $ 82,300 | $ 85,500 | ||
Cash Equivalents - Money Market Funds [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 8,457 | $ 91,709 | $ 35,533 | |
Cash Equivalents - Money Market Funds [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 8,457 | 91,709 | 35,533 | |
Cash Equivalents - Money Market Funds [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 0 | 0 | 0 | |
Cash Equivalents - Money Market Funds [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 0 | 0 | 0 | |
Non-Qualified Deferred Compensation Plan Assets [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 2,765 | 3,879 | 2,904 | |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 2,765 | 3,879 | 2,904 | |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 0 | 0 | 0 | |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 0 | 0 | 0 | |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (2,765) | (3,879) | (2,904) | |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (2,765) | (3,879) | (2,904) | |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (1,983) | (2,423) | (2,066) | |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (1,983) | (2,423) | (2,066) | |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Restricted Stock Units [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (8,103) | (10,263) | (8,857) | |
Restricted Stock Units [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (8,103) | (10,263) | (8,857) | |
Restricted Stock Units [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Restricted Stock Units [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Performance Share Units [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (895) | (3,518) | (5,147) | |
Performance Share Units [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (895) | (3,518) | (5,147) | |
Performance Share Units [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Performance Share Units [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | 0 | 0 | 0 | |
Derivative Financial Instruments, Net [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | (376) | 713 | 79 | |
Derivative Financial Instruments, Net [Member] | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | 0 | 0 | 0 | |
Derivative Financial Instruments, Net [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | (376) | 713 | 79 | |
Derivative Financial Instruments, Net [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Asset, Fair Value | $ 0 | 0 | 0 | |
Convertible Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | (7,118) | (6,957) | ||
Convertible Debt Securities [Member] | Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Liability, Fair Value | $ (7,118) | $ (6,957) |
Fair Value Measurements (Sche48
Fair Value Measurements (Schedule Of Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Aug. 01, 2015 | Jan. 31, 2015 | Aug. 02, 2014 |
Fair Value Disclosures [Abstract] | |||
Senior Notes, Current | $ 39,157 | ||
Short-term Debt, Fair Value | 40,823 | ||
Long-term debt – Senior Notes, Carrying Amount | 200,000 | $ 199,197 | $ 199,104 |
Long-term debt – Senior Notes, Fair Value | $ 202,000 | $ 208,000 | $ 210,750 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Entity Legal Form | 1.3 | |||
Consolidated effective tax rate | 26.50% | 31.40% | 26.20% | 32.70% |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 1.2 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Aug. 01, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Brown Shoe Company, Inc. [Member] | ||||
Related Party Transaction [Line Items] | ||||
Joint venture, ownership percentage | 51.00% | |||
Hongguo International Holdings Limited [Member] | ||||
Related Party Transaction [Line Items] | ||||
Joint venture, ownership percentage | 49.00% | |||
B&H Footwear [Member] | ||||
Related Party Transaction [Line Items] | ||||
Sales to related parties | $ 2.1 | $ 1.4 | $ 4.7 | $ 3.4 |
Commitments And Contingencies (
Commitments And Contingencies (Details) $ in Millions | 6 Months Ended | |
Aug. 01, 2015USD ($)landfill | May. 02, 2015USD ($) | |
Loss Contingencies [Line Items] | ||
Loss Contingency, Range of Possible Loss, Maximum | $ 1.5 | |
Loss Contingency, Range of Possible Loss, Minimum | 1 | |
Loss Contingency Accrual | $ 1.5 | |
Redfield Site [Member] | ||
Loss Contingencies [Line Items] | ||
Liability for on-site remediation, discounted rate | 4.80% | |
On-site remediation liability, undiscounted basis | $ 15.4 | |
Expected on-site remediation liability, year one | $ 0.2 | |
Expected on-site remediation liability, year two | 0.2 | |
Expected on-site remediation liability, year three | 0.2 | |
Expected on-site remediation liability, year four | 0.2 | |
Expected on-site remediation liability, year five | 0.2 | |
Expected on-site remediation liability, thereafter | 14.4 | |
Cumulative expenditures for both on-site and off-site remediation | 27.5 | |
Reserve for anticipated future remediation activities | 9.7 | |
Reserve for anticipated future remediation activities for on-site remediation | 5 | |
Reserve for anticipated future remediation activities for off-site remediation | 4.7 | |
Redfield Site Other Liabilities [Member] | ||
Loss Contingencies [Line Items] | ||
Accrual for environmental loss contingencies in other liabilities | 9 | |
Redfield Site Other Accrued Expense [Member] | ||
Loss Contingencies [Line Items] | ||
Accrual for environmental loss contingencies in other accrued expenses | $ 0.7 | |
New York Tannery And Two Associated Landfills [Member] | ||
Loss Contingencies [Line Items] | ||
Liability for on-site remediation, discounted rate | 6.40% | |
Expected on-site remediation liability, year one | 0.2 | |
Expected on-site remediation liability, year two | 0.2 | |
Expected on-site remediation liability, year three | 0.2 | |
Expected on-site remediation liability, year four | 0.2 | |
Expected on-site remediation liability, year five | $ 0.2 | |
Expected on-site remediation liability, thereafter | $ 0.8 | |
Accrual for environmental loss contingencies in other liabilities | 1.1 | |
Accrual for environmental loss contingencies in other accrued expenses | $ 0.2 | |
Number of associated landfills for which remediation efforts are completed | landfill | 2 | |
Accrued liability to complete the cleanup, maintenance and monitoring at all sites | $ 1.3 | |
Accrued liability on an undiscounted basis | $ 1.8 |
Financial Information For The52
Financial Information For The Company And Its Subsidiaries (Narrative) (Details) | 6 Months Ended |
Aug. 01, 2015 | |
Financial Information For The Company And Its Subsidiaries [Abstract] | |
Guarantors, ownership percentage by parent | 100.00% |
Financial Information For The53
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Thousands | Aug. 01, 2015 | Jan. 31, 2015 | Aug. 02, 2014 | Feb. 01, 2014 |
Assets | ||||
Cash and cash equivalents | $ 129,345 | $ 67,403 | $ 46,876 | $ 82,546 |
Restricted Cash and Cash Equivalents | 41,482 | |||
Receivables, net | 144,213 | 136,646 | 125,484 | |
Inventories, net | 641,128 | 543,103 | 657,656 | |
Prepaid expenses and other current assets | 41,002 | 43,744 | 39,167 | |
Total current assets | 997,170 | 790,896 | 869,183 | |
Other assets | 146,727 | 141,586 | 134,779 | |
Goodwill and intangible assets, net | 132,737 | 134,587 | 136,762 | |
Property and equipment, net | 150,839 | 149,743 | 148,358 | |
Total assets | 1,427,473 | 1,216,812 | 1,289,082 | |
Long-term Debt, Current Maturities | 39,157 | |||
Liabilities and Equity | ||||
Trade accounts payable | 382,626 | 215,921 | 341,694 | |
Other accrued expenses | 156,106 | 181,162 | 159,152 | |
Total current liabilities | 577,889 | 397,083 | 500,846 | |
Other liabilities | ||||
Long-term debt | 200,000 | 199,197 | 199,104 | |
Other liabilities | 80,356 | 78,910 | 79,880 | |
Total other liabilities | 280,356 | 278,107 | 278,984 | |
Equity | ||||
Brown Shoe Company, Inc. shareholders' equity | 568,345 | 540,910 | 508,582 | |
Noncontrolling interests | 883 | 712 | 670 | |
Total equity | 569,228 | 541,622 | 509,252 | |
Total liabilities and equity | 1,427,473 | 1,216,812 | 1,289,082 | |
Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 42,738 | 13,891 | ||
Restricted Cash and Cash Equivalents | 41,482 | |||
Receivables, net | 102,455 | 89,030 | 85,285 | |
Inventories, net | 158,061 | 148,082 | 160,581 | |
Prepaid expenses and other current assets | 12,032 | 41,494 | 11,869 | |
Intercompany receivable – current | 369 | 1,194 | 1,958 | |
Total current assets | 357,137 | 293,691 | 259,693 | |
Other assets | 133,056 | 113,922 | 119,473 | |
Goodwill and intangible assets, net | 116,670 | 117,792 | 119,041 | |
Property and equipment, net | 31,530 | 29,237 | 26,935 | |
Investment in subsidiaries | 1,010,293 | 956,831 | 886,736 | |
Intercompany receivable – noncurrent | 425,872 | 459,774 | 450,516 | |
Total assets | 2,074,558 | 1,971,247 | 1,862,394 | |
Long-term Debt, Current Maturities | 39,157 | |||
Liabilities and Equity | ||||
Trade accounts payable | 121,213 | 60,377 | 104,054 | |
Other accrued expenses | 44,465 | 110,714 | 49,838 | |
Intercompany payable – current | 5,211 | 4,948 | 6,143 | |
Total current liabilities | 210,046 | 176,039 | 160,035 | |
Other liabilities | ||||
Long-term debt | 200,000 | 199,197 | 199,104 | |
Other liabilities | 44,049 | 41,847 | 34,659 | |
Intercompany payable – noncurrent | 1,052,118 | 1,013,254 | 960,014 | |
Total other liabilities | 1,296,167 | 1,254,298 | 1,193,777 | |
Equity | ||||
Brown Shoe Company, Inc. shareholders' equity | 568,345 | 540,910 | 508,582 | |
Total equity | 568,345 | 540,910 | 508,582 | |
Total liabilities and equity | 2,074,558 | 1,971,247 | 1,862,394 | |
Guarantors [Member] | ||||
Assets | ||||
Cash and cash equivalents | 12,742 | 0 | 0 | 0 |
Receivables, net | 2,635 | 5,398 | 2,491 | |
Inventories, net | 458,869 | 376,254 | 470,596 | |
Prepaid expenses and other current assets | 22,554 | 20,777 | 20,278 | |
Intercompany receivable – current | 120 | 0 | 0 | |
Total current assets | 496,920 | 402,429 | 493,365 | |
Other assets | 15,227 | 13,733 | 13,455 | |
Goodwill and intangible assets, net | 2,800 | 2,800 | 2,800 | |
Property and equipment, net | 109,463 | 109,720 | 112,203 | |
Investment in subsidiaries | 0 | 0 | 0 | |
Intercompany receivable – noncurrent | 359,067 | 306,871 | 278,910 | |
Total assets | 983,477 | 835,553 | 900,733 | |
Liabilities and Equity | ||||
Trade accounts payable | 222,148 | 114,208 | 192,787 | |
Other accrued expenses | 96,992 | 85,638 | 94,649 | |
Intercompany payable – current | 297 | 0 | 0 | |
Total current liabilities | 319,437 | 199,846 | 287,436 | |
Other liabilities | ||||
Other liabilities | 33,812 | 32,574 | 37,543 | |
Intercompany payable – noncurrent | 37,745 | 21,078 | 38,569 | |
Total other liabilities | 71,557 | 53,652 | 76,112 | |
Equity | ||||
Brown Shoe Company, Inc. shareholders' equity | 592,483 | 582,055 | 537,185 | |
Total equity | 592,483 | 582,055 | 537,185 | |
Total liabilities and equity | 983,477 | 835,553 | 900,733 | |
Non-Guarantors [Member] | ||||
Assets | ||||
Cash and cash equivalents | 73,865 | 53,512 | 46,876 | $ 82,546 |
Receivables, net | 39,123 | 42,218 | 37,708 | |
Inventories, net | 24,198 | 18,767 | 26,479 | |
Prepaid expenses and other current assets | 6,416 | 8,964 | 7,020 | |
Intercompany receivable – current | 14,122 | 8,750 | 19,165 | |
Total current assets | 157,724 | 132,211 | 137,248 | |
Other assets | (1,556) | 13,931 | 1,851 | |
Goodwill and intangible assets, net | 13,267 | 13,995 | 14,921 | |
Property and equipment, net | 9,846 | 10,786 | 9,220 | |
Investment in subsidiaries | (18,530) | (18,909) | (19,151) | |
Intercompany receivable – noncurrent | 533,324 | 539,396 | 485,949 | |
Total assets | 694,075 | 691,410 | 630,038 | |
Liabilities and Equity | ||||
Trade accounts payable | 39,265 | 41,336 | 44,853 | |
Other accrued expenses | 14,649 | 12,301 | 14,665 | |
Intercompany payable – current | 9,103 | 4,996 | 14,980 | |
Total current liabilities | 63,017 | 58,633 | 74,498 | |
Other liabilities | ||||
Other liabilities | 2,495 | 4,489 | 7,678 | |
Intercompany payable – noncurrent | 228,400 | 271,709 | 216,792 | |
Total other liabilities | 230,895 | 276,198 | 224,470 | |
Equity | ||||
Brown Shoe Company, Inc. shareholders' equity | 399,280 | 355,867 | 330,400 | |
Noncontrolling interests | 883 | 712 | 670 | |
Total equity | 400,163 | 356,579 | 331,070 | |
Total liabilities and equity | 694,075 | 691,410 | 630,038 | |
Eliminations [Member] | ||||
Assets | ||||
Prepaid expenses and other current assets | 0 | (27,491) | ||
Intercompany receivable – current | (14,611) | (9,944) | (21,123) | |
Total current assets | (14,611) | (37,435) | (21,123) | |
Investment in subsidiaries | (991,763) | (937,922) | (867,585) | |
Intercompany receivable – noncurrent | (1,318,263) | (1,306,041) | (1,215,375) | |
Total assets | (2,324,637) | (2,281,398) | (2,104,083) | |
Liabilities and Equity | ||||
Other accrued expenses | 0 | (27,491) | 0 | |
Intercompany payable – current | (14,611) | (9,944) | (21,123) | |
Total current liabilities | (14,611) | (37,435) | (21,123) | |
Other liabilities | ||||
Intercompany payable – noncurrent | (1,318,263) | (1,306,041) | (1,215,375) | |
Total other liabilities | (1,318,263) | (1,306,041) | (1,215,375) | |
Equity | ||||
Brown Shoe Company, Inc. shareholders' equity | (991,763) | (937,922) | (867,585) | |
Total equity | (991,763) | (937,922) | (867,585) | |
Total liabilities and equity | $ (2,324,637) | $ (2,281,398) | $ (2,104,083) |
Financial Information For The54
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Statement Of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Aug. 01, 2015 | May. 02, 2015 | Aug. 02, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||
Net sales | $ 637,834 | $ 635,877 | $ 1,240,117 | $ 1,227,039 | |
Cost of goods sold | 375,039 | $ 375,039 | 376,235 | 728,796 | 725,056 |
Gross profit | 262,795 | 259,642 | 511,321 | 501,983 | |
Selling and administrative expenses | 227,061 | 228,340 | 445,251 | 441,955 | |
Operating earnings | 35,734 | 31,302 | 66,070 | 60,028 | |
Interest expense | (4,345) | (5,125) | (8,808) | (10,431) | |
Gains (Losses) on Extinguishment of Debt | (8,690) | (8,690) | |||
Interest income | 238 | 109 | 542 | 185 | |
Earnings before income taxes | 22,937 | 26,286 | 49,114 | 49,782 | |
Income tax benefit (provision) | (6,074) | (8,247) | (12,860) | (16,267) | |
Net earnings | 16,863 | 18,039 | 36,254 | 33,515 | |
Net earnings | 16,863 | 18,039 | 36,254 | 33,515 | |
Less: Net earnings (loss) attributable to noncontrolling interests | 38 | (25) | 168 | 22 | |
Net earnings attributable to Caleres, Inc. | 16,825 | 18,064 | 36,086 | 33,493 | |
Comprehensive (loss) income | 16,218 | 17,527 | 36,569 | 33,480 | |
Comprehensive (loss) income attributable to noncontrolling interest | 37 | (28) | 171 | 7 | |
Comprehensive (loss) income attributable to Caleres, Inc. | 16,181 | 17,555 | 36,398 | 33,473 | |
Parent [Member] | |||||
Condensed Income Statements, Captions [Line Items] | |||||
Net sales | 196,809 | 183,598 | 389,160 | 362,758 | |
Cost of goods sold | 144,750 | 136,433 | 282,343 | 263,899 | |
Gross profit | 52,059 | 47,165 | 106,817 | 98,859 | |
Selling and administrative expenses | 60,220 | 57,149 | 113,197 | 106,346 | |
Operating earnings | (8,161) | (9,984) | (6,380) | (7,487) | |
Interest expense | (4,345) | (5,125) | (8,807) | (10,430) | |
Gains (Losses) on Extinguishment of Debt | 8,690 | 8,690 | |||
Interest income | 196 | 12 | 448 | 13 | |
Intercompany interest income (expense) | 3,432 | 3,828 | 7,109 | 7,802 | |
Earnings before income taxes | (17,568) | (11,269) | (16,320) | (10,102) | |
Income tax benefit (provision) | 3,651 | 1,684 | 5,335 | 2,148 | |
Equity in earnings (loss) of subsidiaries, net of tax | 30,742 | 27,649 | 47,071 | 41,447 | |
Net earnings | 18,064 | 33,493 | |||
Net earnings | 16,825 | 36,086 | |||
Net earnings attributable to Caleres, Inc. | 16,825 | 18,064 | 36,086 | 33,493 | |
Comprehensive (loss) income | 16,181 | 17,555 | 36,398 | 33,473 | |
Comprehensive (loss) income attributable to Caleres, Inc. | 16,181 | 17,555 | 36,398 | 33,473 | |
Guarantors [Member] | |||||
Condensed Income Statements, Captions [Line Items] | |||||
Net sales | 415,717 | 417,917 | 795,906 | 795,330 | |
Cost of goods sold | 225,771 | 229,064 | 427,354 | 433,619 | |
Gross profit | 189,946 | 188,853 | 368,552 | 361,711 | |
Selling and administrative expenses | 164,064 | 164,142 | 316,310 | 310,783 | |
Operating earnings | 25,882 | 24,711 | 52,242 | 50,928 | |
Interest expense | 0 | (1) | (1) | ||
Interest income | 0 | 0 | 0 | 0 | |
Intercompany interest income (expense) | (3,471) | (3,787) | (7,193) | (7,720) | |
Earnings before income taxes | 22,411 | 20,924 | 45,048 | 43,207 | |
Income tax benefit (provision) | (7,570) | (8,375) | (15,590) | (17,229) | |
Equity in earnings (loss) of subsidiaries, net of tax | 0 | 0 | 0 | 0 | |
Net earnings | 12,549 | 25,978 | |||
Net earnings | 14,841 | 29,458 | |||
Net earnings attributable to Caleres, Inc. | 14,841 | 12,549 | 29,458 | 25,978 | |
Comprehensive (loss) income | 14,229 | 12,541 | 29,570 | 26,526 | |
Comprehensive (loss) income attributable to Caleres, Inc. | 14,229 | 12,541 | 29,570 | 26,526 | |
Non-Guarantors [Member] | |||||
Condensed Income Statements, Captions [Line Items] | |||||
Net sales | 81,169 | 94,578 | 136,150 | 158,931 | |
Cost of goods sold | 47,563 | 60,154 | 84,526 | 103,156 | |
Gross profit | 33,606 | 34,424 | 51,624 | 55,775 | |
Selling and administrative expenses | 15,593 | 17,849 | 31,416 | 39,188 | |
Operating earnings | 18,013 | 16,575 | 20,208 | 16,587 | |
Interest expense | 0 | ||||
Interest income | 42 | 97 | 94 | 172 | |
Intercompany interest income (expense) | 39 | (41) | 84 | (82) | |
Earnings before income taxes | 18,094 | 16,631 | 20,386 | 16,677 | |
Income tax benefit (provision) | (2,155) | (1,556) | (2,605) | (1,186) | |
Equity in earnings (loss) of subsidiaries, net of tax | 394 | 81 | 378 | (207) | |
Net earnings | 15,156 | 15,284 | |||
Net earnings | 16,333 | 18,159 | |||
Less: Net earnings (loss) attributable to noncontrolling interests | 38 | (25) | 168 | 22 | |
Net earnings attributable to Caleres, Inc. | 16,295 | 15,181 | 17,991 | 15,262 | |
Comprehensive (loss) income | 15,719 | 15,143 | 18,275 | 15,818 | |
Comprehensive (loss) income attributable to noncontrolling interest | 37 | (28) | 171 | 7 | |
Comprehensive (loss) income attributable to Caleres, Inc. | 15,682 | 15,171 | 18,104 | 15,811 | |
Eliminations [Member] | |||||
Condensed Income Statements, Captions [Line Items] | |||||
Net sales | (55,861) | (60,216) | (81,099) | (89,980) | |
Cost of goods sold | (43,045) | (49,416) | (65,427) | (75,618) | |
Gross profit | (12,816) | (10,800) | (15,672) | (14,362) | |
Selling and administrative expenses | (12,816) | (10,800) | (15,672) | (14,362) | |
Operating earnings | 0 | ||||
Interest expense | 0 | ||||
Equity in earnings (loss) of subsidiaries, net of tax | (31,136) | (27,730) | (47,449) | (41,240) | |
Net earnings | (27,730) | (41,240) | |||
Net earnings | (31,136) | (47,449) | |||
Net earnings attributable to Caleres, Inc. | (31,136) | (27,730) | (47,449) | (41,240) | |
Comprehensive (loss) income | (29,911) | (27,712) | (47,674) | (42,337) | |
Comprehensive (loss) income attributable to Caleres, Inc. | $ (29,911) | $ (27,712) | $ (47,674) | $ (42,337) |
Financial Information For The55
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Statement Of Cash Flows) (Details) - USD ($) $ in Thousands | Feb. 03, 2014 | Aug. 01, 2015 | Aug. 02, 2014 | May. 02, 2015 |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash (used for) provided by operating activities | $ 101,255 | $ 66,491 | ||
Purchases of property and equipment | (24,872) | (23,511) | ||
Property, Plant and Equipment, Disposals | 7,111 | |||
Capitalized software | (2,698) | (2,714) | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 0 | |||
Acquisition of trademarks | $ 65,000 | 0 | (65,065) | |
Net cash used for investing activities | (20,459) | (91,290) | ||
Borrowings under revolving credit agreement | 86,000 | 456,000 | ||
Repayments under revolving credit agreement | (86,000) | (463,000) | ||
Proceeds from Issuance of Senior Long-term Debt | 200,000 | |||
Early Repayment of Senior Debt | (160,700) | |||
Proceeds from (Repayments of) Restricted Cash, Financing Activities | (41,482) | |||
Debt Issuance Cost | (3,650) | |||
Dividends paid | (6,135) | (6,110) | ||
Treasury Stock, Value | (4,921) | $ (4,921) | ||
Issuance of common stock under share-based plans, net | (4,428) | (523) | ||
Tax benefit related to share-based plans | 2,838 | 2,097 | ||
Net cash used for financing activities | (18,478) | (11,536) | ||
Effect of exchange rate changes on cash and cash equivalents | (376) | 665 | ||
Decrease in cash and cash equivalents | 61,942 | (35,670) | ||
Cash and cash equivalents at beginning of period | 67,403 | 82,546 | ||
Cash and cash equivalents at end of period | 129,345 | 46,876 | ||
Parent [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash (used for) provided by operating activities | (3,561) | (14,071) | ||
Purchases of property and equipment | (9,933) | (2,810) | ||
Property, Plant and Equipment, Disposals | 7,111 | |||
Capitalized software | (1,959) | (2,642) | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 253 | (624) | ||
Acquisition of trademarks | 65,065 | |||
Net cash used for investing activities | (5,034) | (71,141) | ||
Borrowings under revolving credit agreement | 86,000 | 456,000 | ||
Repayments under revolving credit agreement | (86,000) | (463,000) | ||
Proceeds from Issuance of Senior Long-term Debt | 200,000 | |||
Early Repayment of Senior Debt | (160,700) | |||
Proceeds from (Repayments of) Restricted Cash, Financing Activities | (41,482) | |||
Debt Issuance Cost | (3,650) | |||
Dividends paid | (6,135) | (6,110) | ||
Treasury Stock, Value | (4,921) | |||
Issuance of common stock under share-based plans, net | (4,428) | (523) | ||
Tax benefit related to share-based plans | 2,838 | 2,097 | ||
Intercompany financing | 55,920 | 96,748 | ||
Net cash used for financing activities | 37,442 | 85,212 | ||
Decrease in cash and cash equivalents | 28,847 | |||
Cash and cash equivalents at beginning of period | 13,891 | |||
Cash and cash equivalents at end of period | 42,738 | |||
Guarantors [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash (used for) provided by operating activities | 71,298 | 57,490 | ||
Purchases of property and equipment | (14,470) | (19,355) | ||
Capitalized software | (739) | (43) | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 253 | (295) | ||
Acquisition of trademarks | 0 | |||
Net cash used for investing activities | (14,956) | (19,693) | ||
Intercompany financing | (43,600) | (37,797) | ||
Net cash used for financing activities | (43,600) | (37,797) | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Decrease in cash and cash equivalents | 12,742 | 0 | ||
Cash and cash equivalents at beginning of period | 0 | 0 | ||
Cash and cash equivalents at end of period | 12,742 | 0 | ||
Non-Guarantors [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Net cash (used for) provided by operating activities | 33,518 | 23,072 | ||
Purchases of property and equipment | (469) | (1,346) | ||
Capitalized software | 0 | (29) | ||
Proceeds from Divestiture of Businesses, Net of Cash Divested | 919 | |||
Net cash used for investing activities | (469) | (456) | ||
Intercompany financing | (12,320) | (58,951) | ||
Net cash used for financing activities | (12,320) | (58,951) | ||
Effect of exchange rate changes on cash and cash equivalents | (376) | 665 | ||
Decrease in cash and cash equivalents | 20,353 | (35,670) | ||
Cash and cash equivalents at beginning of period | 53,512 | 82,546 | ||
Cash and cash equivalents at end of period | $ 73,865 | $ 46,876 |