Caleres (CAL) 10-Q 9 Jun 21 2021 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	May 01, 2021	May 28, 2021
Document And Entity Information
Entity Central Index Key	0000014707
Entity Registrant Name	CALERES, INC
Amendment Flag	false
Current Fiscal Year End Date	--01-29
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 1, 2021
Document Transition Report	false
Entity File Number	1-2191
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	43-0197190
Entity Address, Address Line One	8300 Maryland Avenue
Entity Address, City or Town	St. Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63105
City Area Code	314
Local Phone Number	854-4000
Title of 12(b) Security	Common Stock - par value of $0.01 per share
Trading Symbol	CAL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,282,472

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021	May 02, 2020
Current assets:
Cash and cash equivalents	$ 98,244	$ 88,295	$ 187,717
Receivables, net	132,698	126,994	145,333
Inventories, net	445,299	487,955	585,307
Income taxes	35,850	33,925	46,870
Prepaid expenses and other current assets	45,027	45,387	44,563
Total current assets	757,118	782,556	1,009,790
Prepaid pension costs	91,397	88,833	52,960
Lease right-of-use assets	526,011	554,303	648,534
Property and equipment, net	165,118	172,437	200,800
Deferred income taxes	0	0	9,456
Goodwill and intangible assets, net	236,924	240,071	273,648
Other assets	26,255	28,850	28,497
Total assets	1,802,823	1,867,050	2,223,685
Current liabilities:
Borrowings under revolving credit agreement	200,000	250,000	438,500
Mandatory purchase obligation - Blowfish Malibu	45,523	39,134	0
Trade accounts payable	293,309	280,501	297,557
Income taxes	11,359	5,069	7,592
Lease obligations	133,327	153,060	160,138
Other accrued expenses	182,419	177,745	173,752
Total current liabilities	865,937	905,509	1,077,539
Other liabilities:
Noncurrent lease obligations	490,355	518,942	601,133
Long-term debt	198,966	198,851	198,506
Income taxes	2,464	5,038	7,786
Deferred income taxes	10,256	8,244	11,780
Other liabilities	28,189	26,612	41,818
Total other liabilities	730,230	757,687	861,023
Equity:
Common stock	383	380	393
Additional paid-in capital	159,381	160,446	154,930
Accumulated other comprehensive loss	(8,936)	(9,136)	(33,216)
Retained earnings	52,041	48,557	160,189
Total Caleres, Inc. shareholders' equity	202,869	200,247	282,296
Noncontrolling interests	3,787	3,607	2,827
Total equity	206,656	203,854	285,123
Total liabilities and equity	$ 1,802,823	$ 1,867,050	$ 2,223,685

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)
Net sales	$ 638,636	$ 397,184
Cost of goods sold	363,749	275,286
Gross profit	274,887	121,898
Selling and administrative expenses	243,535	225,194
Impairment of goodwill and intangible assets	0	262,719
Restructuring and other special charges, net	13,482	60,196
Operating earnings (loss)	17,870	(426,211)
Interest expense, net	(11,792)	(9,478)
Other income, net	3,828	3,585
Earnings (loss) before income taxes	9,906	(432,104)
Income tax (provision) benefit	(3,521)	85,932
Net earnings (loss)	6,385	(346,172)
Net earnings (loss) attributable to noncontrolling interests	238	(334)
Net earnings (loss) attributable to Caleres, Inc.	$ 6,147	$ (345,838)
Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders	$ 0.16	$ (8.95)
Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders	$ 0.16	$ (8.95)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net earnings (loss)	$ 6,385	$ (346,172)
Other comprehensive income (loss) ("OCI"), net of tax:
Foreign currency translation adjustment	(224)	(1,550)
Pension and other postretirement benefits adjustments	366	66
Derivative financial instruments	0	92
Other comprehensive income (loss), net of tax	142	(1,392)
Comprehensive income (loss)	6,527	(347,564)
Comprehensive income (loss) attributable to noncontrolling interests	180	(353)
Comprehensive income (loss) attributable to Caleres, Inc.	$ 6,347	$ (347,211)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Operating Activities
Net earnings (loss)	$ 6,385	$ (346,172)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation	8,945	12,119
Amortization of capitalized software	1,518	1,493
Amortization of intangible assets	3,147	3,212
Amortization of debt issuance costs and debt discount	343	330
Fair value adjustments to mandatory purchase obligation	6,389	3,233
Share-based compensation expense	2,439	2,351
Loss on disposal of property and equipment	811	113
Impairment charges for property, equipment, and lease right-of-use assets	1,888	35,222
Impairment of goodwill and intangible assets	0	262,719
Provision/adjustment for expected credit losses	(152)	8,704
Deferred income taxes	2,012	(33,498)
Changes in operating assets and liabilities:
Receivables	(5,553)	5,999
Inventories	43,062	31,979
Prepaid expenses and other current and noncurrent assets	(10)	(56,231)
Trade accounts payable	12,665	30,969
Accrued expenses and other liabilities	(14,730)	31,838
Income taxes, net	1,791	6,600
Other, net	(572)	(252)
Net cash provided by operating activities	70,378	728
Investing Activities
Purchases of property and equipment	(2,659)	(3,523)
Capitalized software	(1,218)	(977)
Net cash used for investing activities	(3,877)	(4,500)
Financing Activities
Borrowings under revolving credit agreement	110,500	168,500
Repayments under revolving credit agreement	(160,500)	(5,000)
Dividends paid	(2,663)	(2,810)
Acquisition of treasury stock	0	(12,932)
Issuance of common stock under share-based plans, net	(3,501)	(906)
Other	(450)	(323)
Net cash (used for) provided by financing activities	(56,614)	146,529
Effect of exchange rate changes on cash and cash equivalents	62	(258)
Increase in cash and cash equivalents	9,949	142,499
Cash and cash equivalents at beginning of period	88,295	45,218
Cash and cash equivalents at end of period	$ 98,244	$ 187,717

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Cumulative effect adjustmentRetained Earnings	Cumulative effect adjustmentCalares, Inc.	Cumulative effect adjustment	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Calares, Inc.	Non-controlling Interest	Total
BALANCE (Accounting Standards Update 2016-13) at Feb. 01, 2020	$ (2,146)	$ (2,146)	$ (2,146)
BALANCE at Feb. 01, 2020				$ 404	$ 153,489	$ (31,843)	$ 523,900	$ 645,950	$ 3,180	$ 649,130
BALANCE (in shares) at Feb. 01, 2020				40,396,757
Net earnings (loss)							(345,838)	(345,838)	(334)	(346,172)
Foreign currency translation adjustment						(1,531)		(1,531)	(19)	(1,550)
Unrealized gain (loss) on derivative financial instruments, net of tax						92		92		92
Pension and other postretirement benefits adjustments						66		66		66
Comprehensive income (loss)						(1,373)	(345,838)	(347,211)	(353)	(347,564)
Dividends							(2,810)	(2,810)		(2,810)
Acquisition of treasury stock				$ (15)			(12,917)	(12,932)		(12,932)
Acquisition of treasury stock (in shares)				(1,510,888)
Issuance of common stock under share-based plans, net				$ 4	(910)			(906)		(906)
Issuance of common stock under share-based plans, net (in shares)				414,121
Share-based compensation expense					2,351			2,351		2,351
BALANCE at May. 02, 2020				$ 393	154,930	(33,216)	160,189	282,296	2,827	285,123
BALANCE (in shares) at May. 02, 2020				39,299,990
BALANCE at Jan. 30, 2021				$ 380	160,446	(9,136)	48,557	200,247	3,607	203,854
BALANCE (in shares) at Jan. 30, 2021				37,966,204
Net earnings (loss)							6,147	6,147	238	6,385
Foreign currency translation adjustment						(166)		(166)	(58)	(224)
Unrealized gain (loss) on derivative financial instruments, net of tax										0
Pension and other postretirement benefits adjustments						366		366		366
Comprehensive income (loss)						200	6,147	6,347	180	6,527
Dividends							(2,663)	(2,663)		(2,663)
Issuance of common stock under share-based plans, net				$ 3	(3,504)			(3,501)		(3,501)
Issuance of common stock under share-based plans, net (in shares)				327,268
Share-based compensation expense					2,439			2,439		2,439
BALANCE at May. 01, 2021				$ 383	$ 159,381	$ (8,936)	$ 52,041	$ 202,869	$ 3,787	$ 206,656
BALANCE (in shares) at May. 01, 2021				38,293,472

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Pension and other postretirement benefits adjustments, tax	$ 97	$ 628
Dividends, per share (in dollars per share)	$ 0.07	$ 0.07
Unrealized gain (loss) on derivative financial instruments, tax		$ 31

Basis of Presentation and Gener

Basis of Presentation and General	3 Months Ended
	May 01, 2021
Basis of Presentation and General
Basis of Presentation and General	Note 1 Basis of Presentation and General 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. ("the Company"). 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 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, particularly given the impact of the coronavirus pandemic, as further discussed below. Certain prior period amounts in the condensed consolidated financial statements and footnotes have been reclassified to conform to the current period presentation. These reclassifications did not affect net (loss) earnings attributable to Caleres, Inc. The accompanying condensed consolidated financial statements and footnotes should be read in conjunction with the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended January 30, 2021. Noncontrolling Interests During 2019, the Company entered into a joint venture with Brand Investment Holding Limited (“Brand Investment Holding”), a member of the Gemkell Group. The Company and Brand Investment Holding are each 50% owners of the joint venture, which is named CLT Brand Solutions (“CLT”). Net sales and operating earnings were not significant during the thirteen weeks ended May 1, 2021 and May 2, 2020. The Company had a joint venture agreement with a subsidiary of C. banner International Holdings Limited (“CBI”) to market Naturalizer footwear in China. The Company was a 51% owner of the joint venture (“B&H Footwear”), with CBI owning the other 49%. The license enabling the joint venture to market the footwear expired in August 2017 and the parties are in the process of dissolving their joint venture agreements. The Company anticipates the liquidation to be completed during 2021. The Company consolidates CLT and B&H Footwear into its condensed consolidated financial statements. Net earnings (loss) attributable to noncontrolling interests represents the share of net earnings or losses that are attributable to Brand Investment Holding equity. Transactions between the Company and the joint ventures have been eliminated in the condensed consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. ​ Derivative Financial Instruments The Company’s hedging policy permits the use of forward contracts as cash flow hedging instruments to manage its currency exposures in foreign-currency-denominated assets, liabilities and cash flows. These derivative financial instruments are viewed as risk management tools and are not used for trading or speculative purposes. The Company recognizes all derivative financial instruments as either assets or liabilities in the condensed consolidated balance sheets and measures those instruments at fair value. ​ COVID-19 Pandemic The United States economy and the retail industry have begun to recover from the adverse impact of the coronavirus (“COVID-19”) pandemic. The Company’s financial results were significantly impacted during the first half of 2020 as a result of the temporary closure of all retail stores beginning in mid-March. The Company experienced sequential improvement in sales in the second half of 2020, driven by the reopening of the retail stores, and continued solid growth of the e-commerce business. During the first quarter of 2021, as the vaccine became widely distributed and state and local governments continued to ease restrictions, consumer sentiment and spending began to improve. In addition, the additional stimulus measures approved by the federal government provided a boost in consumer spending. These factors strengthened demand for our products in the first quarter of 2021, which contributed to strong growth in our net sales and operating earnings. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security ("CARES") Act was enacted. The CARES Act includes a provision that allows the Company to defer the employer portion of social security payroll tax payments that would have been paid between the enactment date and December 31, 2020, with 50% payable by December 31, 2021 and 50% payable by December 31, 2022. During 2020, the Company deferred approximately $9.4 million of employer social security payroll taxes. As of May 1, 2021, approximately $4.7 million is recorded in other accrued expenses and $4.7 million is recorded in other liabilities on the condensed consolidated balance sheet.

Impact of New Accounting Pronou

Impact of New Accounting Pronouncements	3 Months Ended
	May 01, 2021
Impact of New Accounting Pronouncements
Impact of New Accounting Pronouncements	Note 2 Impact of New Accounting Pronouncements Impact of Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-14, Compensation — Retirement Benefits — Defined Benefit Plans — General (Subtopic 715-20), Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes ​ Impact of Prospective Accounting Pronouncements The Company has evaluated all recently issued accounting pronouncements. There are no prospective accounting pronouncements that are expected to have a material impact on the Company’s condensed consolidated financial statements or disclosures. ​

Revenues

Revenues	3 Months Ended
	May 01, 2021
Revenues
Revenues	Note 3 Revenues Disaggregation of Revenues The following table disaggregates revenue by segment and major source for the periods ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended May 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Eliminations and ​ ​ ​ ($ thousands) Famous Footwear Brand Portfolio Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail stores ​ $ 334,745 ​ $ 15,008 ​ $ — ​ $ 349,753 Landed wholesale - e-commerce - drop ship (1) ​ — ​ 20,814 ​ (394) ​ 20,420 E-commerce - Company websites (1) ​ 63,122 ​ 42,738 ​ — ​ 105,860 Total direct-to-consumer sales ​ $ 397,867 ​ $ 78,560 ​ $ (394) ​ $ 476,033 First-cost wholesale - e-commerce (1) ​ — ​ 904 ​ — ​ 904 Landed wholesale - e-commerce (1) ​ ​ — ​ ​ 36,576 ​ ​ — ​ ​ 36,576 Landed wholesale - other ​ — ​ 115,347 ​ (9,379) ​ 105,968 First-cost wholesale ​ — ​ 16,718 ​ — ​ 16,718 Licensing and royalty ​ — ​ 2,164 ​ — ​ 2,164 Other (2) ​ 237 ​ 36 ​ — ​ 273 Total net sales ​ $ 398,104 ​ $ 250,305 ​ $ (9,773) ​ $ 638,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended May 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Eliminations and ​ ​ ​ ($ thousands) Famous Footwear Brand Portfolio Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail stores ​ $ 137,117 ​ $ 11,822 ​ $ — ​ $ 148,939 Landed wholesale - e-commerce - drop ship (1) ​ ​ — ​ ​ 19,231 ​ ​ — ​ ​ 19,231 E-commerce - Company websites (1) ​ 54,178 ​ 32,989 ​ — ​ 87,167 Total direct-to-consumer sales ​ $ 191,295 ​ $ 64,042 ​ $ — ​ $ 255,337 First-cost wholesale - e-commerce (1) ​ — ​ 246 ​ — ​ 246 Landed wholesale - e-commerce (1) ​ ​ — ​ ​ 26,242 ​ ​ — ​ ​ 26,242 Landed wholesale - other ​ — ​ 112,568 ​ (11,306) ​ 101,262 First-cost wholesale ​ — ​ 11,921 ​ — ​ 11,921 Licensing and royalty ​ — ​ 2,186 ​ — ​ 2,186 Other (2) ​ (43) ​ 33 ​ — ​ (10) Net sales ​ $ 191,252 ​ $ 217,238 ​ $ (11,306) ​ $ 397,184 (1) Collectively referred to as "e-commerce" below (2) Includes breakage revenue from unredeemed gift cards Retail stores Traditionally, the majority of the Company’s revenue is generated from retail sales where control is transferred and revenue is recognized at the point of sale. Retail sales are recorded net of estimated returns and exclude sales tax. The Company records a returns reserve and a corresponding return asset for expected returns of merchandise. Retail sales to members of the Company’s loyalty programs, including the Famously You Rewards program, include two performance obligations: the sale of merchandise and the delivery of points that may be redeemed for future purchases. The transaction price is allocated to the separate performance obligations based on the relative stand-alone selling price. The stand-alone selling price for the points is estimated using the retail value of the merchandise earned, adjusted for estimated breakage based upon historical redemption patterns. The revenue associated with the initial merchandise purchased is recognized immediately and the value assigned to the points is deferred until the points are redeemed, forfeited or expired. Landed wholesale Landed sales are wholesale sales in which the merchandise is shipped directly to the customer from the Company’s warehouses. Many customers purchasing footwear on a landed basis arrange their own transportation of merchandise and, with limited exceptions, control is transferred at the time of shipment. First-cost wholesale First-cost sales are wholesale sales in which the Company purchases merchandise from an international factory that manufactures the product and subsequently sells to a customer at an overseas port. Revenue is recognized at the time the merchandise is delivered to the customer’s designated freight forwarder and control is transferred to the customer. E-commerce The Company also generates revenue from sales on websites maintained by the Company that are shipped from the Company’s distribution centers or retail stores directly to the consumer, picked up directly by the consumer from the Company’s stores and e-commerce sales from the Company’s wholesale customers’ websites that are fulfilled on a drop-ship or first-cost basis (collectively referred to as "e-commerce"). The Company transfers control and recognizes revenue for merchandise sold that is shipped directly to an individual consumer upon delivery to the consumer. Licensing and royalty The Company has license agreements with third parties allowing them to sell the Company’s branded product, or other merchandise that uses the Company’s owned or licensed brand names. These license agreements provide the licensee access to the Company’s symbolic intellectual property, and revenue is therefore recognized over the license term. For royalty contracts that do not have guaranteed minimums, the Company recognizes revenue as the licensee’s sales occur. For royalty contracts that have guaranteed minimums, revenue for the guaranteed minimum is recognized on a straight-line basis during the term, until such time that the cumulative royalties exceed the total minimum guarantee. Up-front payments are recognized over the contractual term to which the guaranteed minimum relates. Contract Balances Revenue is recorded at the transaction price, net of estimates for variable consideration for which reserves are established, including returns, allowances and discounts. Variable consideration is estimated using the expected value method and given the large number of contracts with similar characteristics, the portfolio approach is applied to determine the variable consideration for each revenue stream. Reserves for projected returns are based on historical patterns and current expectations. Information about significant contract balances from contracts with customers is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Customer allowances and discounts ​ $ 19,260 ​ $ 24,768 ​ $ 17,043 Loyalty programs liability ​ 16,177 ​ 17,326 ​ 13,986 Returns reserve ​ 14,469 ​ 15,427 ​ 11,040 Gift card liability ​ 5,423 ​ 5,528 ​ 6,091 ​ Changes in contract balances with customers generally reflect differences in relative sales volume for the periods presented. In addition, during the thirteen weeks ended May 1, 2021, the loyalty programs liability increased $9.3 million due to points and material rights earned on purchases and decreased $7.1 million due to expirations and redemptions. During the thirteen weeks ended May 2, 2020, the loyalty programs liability increased $5.9 million due to points and material rights earned on purchases and decreased $5.0 million due to expirations and redemptions. ​ The following table summarizes the activity in the Company’s allowance for expected credit losses during the thirteen weeks ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 ​ May 2, 2020 Balance, beginning of period ​ $ 14,928 ​ $ 1,813 Adjustment upon adoption of ASU 2016-13 ​ ​ — ​ ​ 2,521 Provision/adjustment for expected credit losses (1) ​ ​ (152) ​ ​ 8,704 Uncollectible accounts written off, net of recoveries ​ ​ (3,404) ​ ​ 356 Balance, end of period ​ $ 11,372 ​ $ 13,394 (1) The Company’s provision/adjustment for expected credit losses for the thirteen weeks ended May 2, 2020 was higher than the comparable period in 2021 as a result of the COVID-19 pandemic and its impact on the financial condition of several of the Company’s wholesale customers. ​ ​ ​ ​ ​

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	May 01, 2021
Earnings (Loss) Per Share
Earnings (Loss) Per Share	Note 4 Earnings (Loss) Per Share The Company uses the two-class method to compute basic and diluted earnings (loss) 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 (loss) per common share attributable to Caleres, Inc. shareholders for the periods ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands, except per share amounts) May 1, 2021 May 2, 2020 ​ ​ ​ ​ ​ ​ ​ NUMERATOR ​ ​ ​ ​ ​ ​ Net earnings (loss) ​ $ 6,385 ​ $ (346,172) Net (earnings) loss attributable to noncontrolling interests ​ (238) ​ 334 Net earnings (loss) attributable to Caleres, Inc. ​ $ 6,147 ​ $ (345,838) Net earnings allocated to participating securities ​ (210) ​ — Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities ​ $ 5,937 ​ $ (345,838) ​ ​ ​ DENOMINATOR ​ ​ Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ 36,707 ​ 38,649 Dilutive effect of share-based awards ​ 158 ​ — Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ 36,865 ​ 38,649 ​ ​ ​ Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ $ 0.16 ​ $ (8.95) ​ ​ ​ Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ $ 0.16 ​ $ (8.95) ​ Options to purchase 16,667 and 22,667 shares of common stock for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively, were not included in the denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive. During the thirteen weeks ended May 1, 2021 and May 2, 2020, the Company repurchased zero and 1,510,888 shares, respectively, under the 2018 and 2019 publicly announced share repurchase programs, which permits repurchases of up to 2.5 million and 5.0 million shares, respectively. Refer to further discussion in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds

Restructuring and Other Special

Restructuring and Other Special Charges	3 Months Ended
	May 01, 2021
Restructuring and Other Special Charges
Restructuring and Other Special Charges	Note 5 Restructuring and Other Special Charges Brand Exits During the thirteen weeks ended May 1, 2021, the Company incurred costs of $13.5 million ($11.9 million on an after-tax basis, or $0.31 per diluted share) related to the strategic realignment of the Naturalizer retail store operations. These costs primarily represent lease termination and other store closure costs, including employee severance, for the 73 stores that were closed during the first quarter of 2021. These charges are presented in restructuring and special charges on the condensed consolidated statements of earnings (loss) within the Brand Portfolio segment. As of May 1, 2021, reserves of $5.2 million were included on the condensed consolidated balance sheet. During the thirteen weeks ended May 2, 2020, the Company incurred costs of $1.6 million ($1.2 million on an after-tax basis, or $0.03 per diluted share) related to the decision to exit the Fergie brand. These charges, which represented inventory markdowns required to reduce the value of inventory to net realizable value, are presented in cost of goods sold on the condensed consolidated statements of earnings (loss) within the Brand Portfolio segment. Blowfish Mandatory Purchase Obligation In 2018, the Company acquired a controlling interest in Blowfish Malibu. The noncontrolling interest is subject to a mandatory purchase obligation after a three-year period based upon an earnings multiple formula as specified in the purchase agreement. Approximately $9.0 million was initially assigned to the mandatory purchase obligation and remeasurement adjustments are being recorded as interest expense. The fair value adjustments on the mandatory purchase obligation totaled $6.4 million ($4.7 million on an after-tax basis, or $0.13 per diluted share) and $3.2 million ($2.4 million on an after-tax basis, or $0.06 per diluted share) for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively. As of May 1, 2021, the mandatory purchase obligation is valued at $45.5 million. The mandatory purchase obligation is expected to be settled during the third quarter of 2021. Refer to further discussion regarding the mandatory purchase obligation in Note 14 to the condensed consolidated financial statements. COVID-19-Related Expenses During the thirteen weeks ended May 2, 2020, the Company incurred costs associated with the COVID-19 pandemic and related impacts on the Company’s business, totaling $93.6 million ($73.3 million on an after-tax basis, or $1.90 per diluted share). These costs included non-cash impairment of property and equipment and lease right-of-use assets, incremental inventory markdowns, employee severance and other direct expenses specific to the impact of COVID-19 on the Company’s operations. Of the $93.6 million in charges, $60.2 million is presented as restructuring and other special charges, net and $33.4 million is reflected as cost of goods sold in the condensed consolidated statements of earnings (loss). Of the $60.2 million reflected as restructuring and other special charges, $43.8 million is reflected in the Brand Portfolio segment, $16.0 million is reflected in the Famous Footwear segment and $0.4 million is reflected within the Eliminations and Other category. The $33.4 million reflected as cost of goods sold represents incremental inventory markdowns, of which $27.4 million is reflected in the Brand Portfolio segment and $6.0 million is reflected in the Famous Footwear segment. There were no corresponding charges for the thirteen weeks ended May 1, 2021. Refer to Note 9 to the condensed consolidated financial statements for additional information regarding the impact of COVID-19 on the Company’s leases.

Business Segment Information

Business Segment Information	3 Months Ended
	May 01, 2021
Business Segment Information
Business Segment Information	Note 6 Business Segment Information Following is a summary of certain key financial measures for the Company’s business segments for the periods ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Famous ​ Brand ​ Eliminations ​ ​ ​ ($ thousands) Footwear Portfolio and Other Total Thirteen Weeks Ended May 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 398,104 ​ $ 250,305 ​ $ (9,773) ​ $ 638,636 Intersegment sales (1) ​ — ​ ​ 9,773 ​ ​ — ​ 9,773 Operating earnings (loss) ​ 47,873 ​ (2,821) ​ (27,182) ​ 17,870 Segment assets ​ 758,823 ​ 794,430 ​ 249,570 ​ 1,802,823 ​ ​ ​ ​ ​ Thirteen Weeks Ended May 2, 2020 ​ ​ ​ ​ Net sales ​ $ 191,252 ​ $ 217,238 ​ $ (11,306) ​ $ 397,184 Intersegment sales (1) ​ — ​ 11,306 ​ — ​ 11,306 Operating loss ​ (67,540) ​ (345,748) ​ (12,923) ​ (426,211) Segment assets ​ 897,046 ​ 995,760 ​ 330,879 ​ 2,223,685 ​ ​ ​ ​ (1) Included in net sales in the Brand Portfolio segment and eliminated in the Eliminations and Other category. The Eliminations and Other category includes corporate assets, administrative expenses and other costs and recoveries, which are not allocated to the operating segments, as well as the elimination of intersegment sales and profit. Following is a reconciliation of operating earnings (loss) to earnings (loss) before income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Operating earnings (loss) ​ $ 17,870 ​ $ (426,211) Interest expense, net ​ (11,792) ​ (9,478) Other income, net ​ 3,828 ​ 3,585 Earnings (loss) before income taxes ​ $ 9,906 ​ $ (432,104) ​

Inventories

Inventories	3 Months Ended
	May 01, 2021
Inventories
Inventories	Note 7 Inventories The Company’s net inventory balance was comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Raw materials ​ $ 13,010 ​ $ 16,848 ​ $ 14,592 Work-in-process ​ 365 ​ 357 ​ 349 Finished goods ​ 431,924 ​ 568,102 ​ 473,014 Inventories, net ​ $ 445,299 ​ $ 585,307 ​ $ 487,955 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	May 01, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 8 Goodwill and Intangible Assets Goodwill and intangible assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Intangible Assets ​ ​ ​ Famous Footwear ​ $ 2,800 ​ $ 2,800 ​ $ 2,800 Brand Portfolio ​ 342,083 ​ 365,888 ​ 342,083 Total intangible assets ​ 344,883 ​ 368,688 ​ 344,883 Accumulated amortization ​ (112,915) ​ (99,996) ​ (109,768) Total intangible assets, net ​ 231,968 ​ 268,692 ​ 235,115 Goodwill ​ ​ ​ Brand Portfolio ​ 4,956 ​ 4,956 ​ 4,956 Total goodwill ​ 4,956 ​ 4,956 ​ 4,956 Goodwill and intangible assets, net ​ $ 236,924 ​ $ 273,648 ​ $ 240,071 ​ The Company’s intangible assets as of May 1, 2021, May 2, 2020 and January 30, 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis (1) ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 2 - 40 ​ $ 299,488 ​ $ 104,459 ​ $ 10,200 ​ $ 184,829 Trade names Indefinite ​ 107,400 ​ — ​ 92,000 ​ 15,400 Customer relationships 15 - 16 44,200 8,456 4,005 31,739 ​ ​ ​ ​ $ 451,088 ​ $ 112,915 ​ $ 106,205 ​ $ 231,968 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 2, 2020 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 15 - 40 ​ $ 288,788 ​ $ 94,294 ​ $ — ​ $ 194,494 Trade names Indefinite ​ 118,100 ​ — ​ 82,400 ​ 35,700 Customer relationships 15 - 16 44,200 5,702 — 38,498 ​ ​ ​ ​ $ 451,088 ​ $ 99,996 ​ $ 82,400 ​ $ 268,692 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 30, 2021 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis (1) ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 2 - 40 ​ $ 299,488 ​ $ 101,919 ​ $ 10,200 ​ $ 187,369 Trade names Indefinite ​ 107,400 ​ — ​ 92,000 ​ 15,400 Customer relationships 15 - 16 44,200 7,849 4,005 32,346 ​ ​ ​ ​ $ 451,088 ​ $ 109,768 ​ $ 106,205 ​ $ 235,115 (1) The Via Spiga trade name was reclassified from indefinite-lived trade names to definite-lived trade names. The remaining carrying value of $0.5 million is being amortized over two years . Amortization expense related to intangible assets was $3.1 million and $3.2 million for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively. The Company estimates that amortization expense related to intangible assets will be approximately $12.6 million in 2021, $12.1 million in 2022, $11.9 million in 2023, and $11.0 million in 2024 and 2025. Goodwill is tested for impairment at least annually, or more frequently if events or circumstances indicate it might be impaired, using either the qualitative assessment or a quantitative fair value-based test. During the first quarter of 2020, as a result of the significant decline in the Company’s share price and market capitalization and the impact of COVID-19 on the Company’s business operations, the Company determined that an interim assessment of goodwill was required. A quantitative assessment was performed for all reporting units as of May 2, 2020. The assessment indicated that the carrying value of the goodwill associated with the Brand Portfolio and Vionic reporting units was impaired, resulting in total goodwill impairment charges of $240.3 million. The Company recorded no goodwill impairment charges during the thirteen weeks ended May 1, 2021. Indefinite-lived intangible assets are tested for impairment as of the first day of the fourth quarter of each fiscal year unless events or circumstances indicate an interim test is required. As a result of the triggering event from the economic impacts of COVID-19, an interim assessment was performed as of May 2, 2020. The indefinite-lived intangible asset impairment review resulted in total impairment charges of $22.4 million for the thirteen weeks ended May 2, 2020, including $12.2 million associated with the indefinite-lived Allen Edmonds trade name and $10.2 million of impairment associated with the indefinite-lived Via Spiga trade name. The carrying value of the Via Spiga trade name of $0.5 million is being amortized over approximately two years. In addition to the interim assessment, the Company tested the indefinite-lived intangible assets as of the first day of the fourth fiscal quarter. As a result of the impairment indicator for Allen Edmonds, the Company also tested the definite-lived Allen Edmonds customer relationships intangible asset. Those assessments resulted in additional impairment totaling $23.8 million, consisting of $19.8 million associated with the Allen Edmonds trade name and $4.0 million associated with the Allen Edmonds customer relationships intangible asset. The Company recorded no impairment charges during the thirteen weeks ended May 1, 2021.

Leases

Leases	3 Months Ended
	May 01, 2021
Leases
Leases	Note 9 Leases The Company leases all of its retail locations, a manufacturing facility, and certain office locations, distribution centers and equipment. At contract inception, leases are evaluated and classified as either operating or finance leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease right-of-use assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The majority of the Company’s leases do not provide an implicit rate and therefore, the Company uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future payments. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred. The Company regularly analyzes the results of all of its stores and assesses the viability of underperforming stores to determine whether events or circumstances exist that indicate the stores should be closed or whether the carrying amount of their long-lived assets may not be recoverable. After allowing for an appropriate start-up period and consideration of any unusual nonrecurring events, property and equipment at stores and the lease right-of-use assets indicated as impaired are written down to fair value as calculated using a discounted cash flow method. The fair value of the lease right-of-use assets is determined utilizing projected cash flows for each store location, discounted using a risk-adjusted discount rate, subject to a market floor based on current market lease rates. The Company recorded asset impairment charges of $1.9 million and $35.2 million during the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively. The impairment charges recorded in the thirteen weeks ended May 1, 2021 are related to underperforming retail stores. The impairment charges recorded in the thirteen weeks ended May 2, 2020, including $20.4 million associated with operating lease right-of-use assets and $14.8 million associated with property and equipment, reflect the impact of the COVID-19 pandemic on the Company’s retail operations and estimates of remaining cash flows for each store. Refer to Note 5 and Note 14 to the condensed consolidated financial statements for further discussion on these impairment charges. As a result of the temporary store closures during the first half of 2020 associated with the COVID-19 pandemic, certain leases were amended to provide rent abatements and/or deferral of lease payments. Deferred payments continue to be reflected in lease obligations on the condensed consolidated balance sheets. Under relief provided by the FASB, entities could make a policy election to account for COVID-19 related lease concessions as if the enforceable rights existed under the original contract, accounting for them as variable rent rather than lease modifications. The Company made a policy election to account for rent abatements as variable rent. Accordingly, during the thirteen weeks ended May 1, 2021, the Company recorded $1.3 million in lease concessions as a reduction of rent expense within selling and administrative expenses in the condensed consolidated statements of earnings (loss). Rent concessions for leases that were extended will be recognized as a lease modification. There were no lease concessions recorded during the thirteen weeks ended May 2, 2020. During the thirteen weeks ended May 1, 2021, the Company entered into new or amended leases that resulted in the recognition of right-of-use assets and lease obligations of $16.0 million on the condensed consolidated balance sheets. As of May 1, 2021, the Company has entered into lease commitments for three retail locations for which the leases have not yet commenced. The Company anticipates that one lease will begin in the current fiscal year and two leases will begin in the next fiscal year. Upon commencement, right-of-use assets next The components of lease expense for the thirteen weeks ended May 1, 2021 and May 2, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) ​ May 1, 2021 May 2, 2020 Operating lease expense $ 40,577 $ 45,240 Variable lease expense ​ 11,490 ​ 11,334 Short-term lease expense ​ 565 ​ 712 Sublease income ​ (29) ​ (19) Total lease expense ​ $ 52,603 ​ $ 57,267 ​ Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Cash paid for lease liabilities (1) ​ $ 56,453 ​ $ 15,117 Cash received from sublease income ​ 29 ​ 19 ​ (1) Cash paid for lease liabilities for the thirteen weeks ended May 1, 2021 includes payment of certain lease payments deferred in 2020, as described above, as well as lease termination costs associated with the Naturalizer retail store closings, as further discussed in Note 5 to the condensed consolidated financial statements. In addition, cash paid for lease liabilities during the thirteen weeks ended May 2, 2020 was significantly lower than comparable periods, reflecting the deferral of lease payments during the onset of the pandemic. ​ ​ ​ ​ ​ ​

Long-term and Short-term Financ

Long-term and Short-term Financing Arrangements	3 Months Ended
	May 01, 2021
Long-term and Short-term Financing Arrangements
Long-term and Short-term Financing Arrangements	Note 10 Long-term and Short-term Financing Arrangements Credit Agreement The Company maintains a revolving credit facility for working capital needs. The Company is the lead borrower, and Sidney Rich Associates, Inc., BG Retail, LLC, Allen Edmonds and Vionic are each co-borrowers and guarantors. On April 14, 2020, the Company entered into a Fourth Amendment to Fourth Amended and Restated Credit Agreement (as so amended, the "Credit Agreement") which, among other modifications, increased the amount available under the revolving credit facility by $100.0 million to an aggregate amount of up to $600.0 million, subject to borrowing base restrictions, and may be further increased by up to $150.0 million. The Credit Agreement increased the spread applied to the LIBOR or prime rate by a total of 75 basis points and increased the unused line fee by 5 basis points. 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”) (with a floor of 1.0% imposed by the Credit Agreement) 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, if excess availability falls below the greater of 10.0% of the lesser of the Loan Cap and $40.0 million for three consecutive business days, and the fixed charge coverage ratio is less than 1.0 to 1.0, the Company would be in default under the Credit Agreement and certain additional covenants would be triggered. The Credit Agreement contains customary events of default, including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to similar obligations, certain events of bankruptcy and insolvency, judgment defaults and the failure of any guaranty or security document supporting the agreement to be in full force and effect. If an event of default occurs, the collateral agent 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 12-month period. The Credit Agreement also contains certain other covenants and restrictions. The Company was in compliance with all covenants and restrictions under the Credit Agreement as of May 1, 2021. At May 1, 2021, the Company had $200.0 million borrowings outstanding and $12.5 million in letters of credit outstanding under the Credit Agreement. Total additional borrowing availability was $211.3 million at May 1, 2021. $200 Million Senior Notes On July 27, 2015, the Company issued $200.0 million aggregate principal amount of Senior Notes due on August 15, 2023 (the "Senior Notes"). The Senior Notes bear interest at 6.25%, which is payable on February 15 and August 15 of each year. The 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. The Company may redeem some or all of the Senior Notes at a redemption price (expressed as a percentage of principal amount) of 101.563% if redeemed prior to August 15, 2021 and 100.000% if redeemed after August 15, 2021, plus accrued and unpaid interest and Additional Interest (as defined in the Senior Notes indenture). If the Company experiences specific kinds of changes of control, it would be required to offer to purchase the 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 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 May 1, 2021, the Company was in compliance with all covenants and restrictions relating to the Senior Notes.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	May 01, 2021
Shareholders' Equity
Shareholders' Equity	Note 11 Shareholders’ Equity Accumulated Other Comprehensive Loss The following table sets forth the changes in accumulated other comprehensive loss (OCL) by component for the periods ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and Derivative ​ ​ ​ ​ ​ ​ ​ Other ​ Financial ​ Accumulated ​ ​ Foreign ​ Postretirement ​ Instrument ​ Other ​ ​ Currency ​ Transactions ​ Transactions ​ Comprehensive ($ thousands) ​ Translation ​ (1) ​ (2) ​ (Loss) Income Balance at January 30, 2021 ​ $ (111) ​ $ (9,025) ​ $ — ​ $ (9,136) Other comprehensive loss before reclassifications ​ ​ (166) ​ ​ — ​ ​ — ​ ​ (166) Reclassifications: ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive loss ​ ​ — ​ ​ 463 ​ ​ — ​ ​ 463 Tax benefit ​ — ​ (97) ​ — ​ (97) Net reclassifications ​ — ​ 366 ​ — ​ 366 Other comprehensive (loss) income ​ (166) ​ 366 ​ — ​ 200 Balance at May 1, 2021 ​ $ (277) ​ $ (8,659) ​ $ — ​ $ (8,936) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 1, 2020 ​ $ (580) ​ $ (31,171) ​ $ (92) ​ $ (31,843) Other comprehensive (loss) income before reclassifications ​ (1,531) ​ — ​ 87 ​ (1,444) Reclassifications: ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive loss ​ — ​ 694 ​ 6 ​ 700 Tax benefit ​ — ​ (628) ​ (1) ​ (629) Net reclassifications ​ — ​ 66 ​ 5 ​ 71 Other comprehensive (loss) income ​ (1,531) ​ 66 ​ 92 ​ (1,373) Balance at May 2, 2020 ​ $ (2,111) ​ $ (31,105) ​ $ — ​ $ (33,216) (1) Amounts reclassified are included in other income, net. Refer to Note 13 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. Refer to Note 1 to the condensed consolidated financial statements for additional information related to derivative financial instruments .

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	May 01, 2021
Share-Based Compensation
Share-Based Compensation	Note 12 Share-Based Compensation The Company recognized share-based compensation expense of $2.4 million for both the thirteen weeks ended May 1, 2021 and May 2, 2020. The Company had net issuances of 327,268 and 414,121 shares of common stock during the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively, for restricted stock grants, stock performance awards issued to employees and common and restricted stock grants issued to non-employee directors, net of forfeitures and shares withheld to satisfy the tax withholding requirement. Restricted Stock The following table summarizes restricted stock activity for the periods ended May 1, 2021 and May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ Thirteen Weeks Ended ​ ​ May 1, 2021 ​ ​ ​ May 2, 2020 ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ Weighted- ​ ​ Total Number ​ ​ Average ​ ​ ​ Total Number ​ ​ Average ​ ​ of Restricted ​ ​ Grant Date ​ ​ ​ of Restricted ​ ​ Grant Date ​ Shares ​ Fair Value ​ Shares ​ Fair Value January 30, 2021 ​ 1,397,227 ​ $ 16.74 ​ February 1, 2020 ​ 1,271,795 ​ $ 26.77 Granted ​ 562,506 ​ ​ 18.63 ​ Granted ​ 550,683 ​ ​ 5.81 Forfeited ​ (46,500) ​ ​ 16.08 ​ Forfeited ​ (32,687) ​ ​ 25.60 Vested (484,389) ​ 26.96 Vested (368,048) ​ 28.38 May 1, 2021 1,428,844 ​ $ 14.04 ​ May 2, 2020 1,421,743 ​ $ 18.20 ​ ​ Of the 562,506 restricted shares granted during the thirteen weeks ended May 1, 2021, 20,000 shares have a cliff-vesting term of two years and 542,506 shares have a graded-vesting term of three years, with 50% vesting after two years and 50% after three years. All of the restricted shares granted during the thirteen weeks ended May 2, 2020 have a graded-vesting term of three years, with 50% vesting after two years and 50% after three years. Share-based compensation expense for graded-vesting grants is recognized ratably over the respective vesting periods. Performance Share Awards During the thirteen weeks ended May 1, 2021, the Company granted performance share awards for a targeted 175,500 shares, with a weighted-average grant date fair value of $18.63 in connection with the 2020 performance award. There were no performance-based share awards granted by the Company during the thirteen weeks ended May 2, 2020. Vesting of performance-based awards is generally 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 the specified financial goals for the service period. Compensation expense is recognized based on the fair value of the award and the anticipated number of shares or units to be awarded for each tranche in accordance with the vesting schedule of the units over the three-year service period. During the thirteen weeks ended May 1, 2021, the Company granted long-term incentive awards payable in cash for the 2021-2023 performance period, with a target value of $6.5 million and a maximum value of $13.0 million. These awards, which vest after a three-year period, are dependent upon the attainment of certain financial goals of the Company for each of the three years and individual achievement of strategic initiatives over the cumulative period of the award. The estimated value of the award, which is reflected within other liabilities on the condensed consolidated balance sheets, is being accrued over the three-year performance period. ​ Restricted Stock Units for Non-Employee Directors Equity-based grants may be made to non-employee directors in the form of restricted stock units ("RSUs") payable in cash or common stock at no cost to the non-employee director. The RSUs earn dividend equivalents at the same rate as dividends on the Company’s common stock. The dividend equivalents, which vest immediately, are automatically re-invested in additional RSUs. Expense related to the initial grant of RSUs is recognized ratably over the vesting period based upon the fair value of the RSUs. The RSUs payable in cash are remeasured at the end of each period. Expense for the dividend equivalents is recognized at fair value when the dividend equivalents are granted. The Company granted 1,712 and 8,309 to non-employee directors for dividend equivalents, during the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively, with weighted-average grant date fair values of $20.91 and $3.86, respectively.

Retirement and Other Benefit Pl

Retirement and Other Benefit Plans	3 Months Ended
	May 01, 2021
Retirement and Other Benefit Plans
Retirement and Other Benefit Plans	Note 13 Retirement and Other Benefit Plans The following table sets 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) ​ May 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Service cost ​ $ 1,942 ​ $ 2,160 ​ $ — ​ $ — Interest cost ​ 2,813 ​ 3,154 ​ 10 ​ 10 Expected return on assets ​ (7,114) ​ (7,443) ​ — ​ — Amortization of: ​ ​ ​ ​ ​ ​ Actuarial loss (gain) ​ 615 ​ 1,083 ​ (27) ​ (39) Prior service income ​ (125) ​ (350) ​ — ​ — Total net periodic benefit income ​ $ (1,869) ​ $ (1,396) ​ $ (17) ​ $ (29) ​ The non-service cost components of net periodic benefit income are included in other income, net in the condensed consolidated statements of earnings (loss). Service cost is included in selling and administrative expenses.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 01, 2021
Fair Value Measurements
Fair Value Measurements	Note 14 Fair Value Measurements Fair Value Hierarchy Fair value measurement disclosure requirements specify 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; and ● 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. The Company also considers counterparty credit risk in its assessment of fair value. 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, and it 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). Non-Qualified 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 participants 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 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 equal to the number of shares of the Company’s common stock that 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 statements of earnings (loss). 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 were previously granted at no cost to non-employee directors. These cash-equivalent 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 cash-equivalent 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 RSUs for non-employee directors is disclosed in Note 12 to the condensed consolidated financial statements. Mandatory Purchase Obligation The Company recorded a mandatory purchase obligation of the noncontrolling interest in conjunction with the acquisition of Blowfish Malibu in July of 2018. The fair value of the mandatory purchase obligation is based on the earnings formula specified in the purchase agreement (Level 3). Fair value adjustments on the mandatory purchase obligation are recorded as interest expense. During the thirteen weeks ended May 1, 2021 and May 2, 2020, the Company recorded fair value adjustments of $6.4 million and $3.2 million, respectively. Refer to further discussion of the mandatory purchase obligation in Note 5 to the condensed consolidated financial statements. The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at May 1, 2021, May 2, 2020 and January 30, 2021. During the thirteen weeks ended May 1, 2021 and May 2, 2020, there were no transfers into or out of Level 3. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 57,000 ​ $ 57,000 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ 8,169 ​ 8,169 ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (8,169) ​ (8,169) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (1,185) ​ (1,185) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (2,571) ​ (2,571) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (45,523) ​ — ​ — ​ ​ (45,523) May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 146,009 ​ $ 146,009 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ ​ 7,435 ​ ​ 7,435 ​ ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (7,435) ​ (7,435) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (818) ​ (818) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (1,093) ​ (1,093) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (18,433) ​ — ​ — ​ ​ (18,433) January 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 45,000 ​ $ 45,000 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ 7,918 ​ 7,918 ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (7,918) ​ (7,918) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (989) ​ (989) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (1,661) ​ (1,661) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (39,134) ​ — ​ — ​ ​ (39,134) ​ 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 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 Topic 820, Fair Value Measurement ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Long-Lived Asset Impairment Charges ​ ​ Famous Footwear ​ $ 400 ​ $ 14,896 Brand Portfolio ​ 1,488 ​ 20,326 Total long-lived asset impairment charges ​ $ 1,888 ​ $ 35,222 ​ 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. The carrying amounts and fair values of the Company’s other financial instruments subject to fair value disclosures are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2021 May 2, 2020 January 30, 2021 ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ($ thousands) Value (1) Fair Value Value (1) Fair Value Value (1) Fair Value Borrowings under revolving credit agreement ​ $ 200,000 ​ $ 200,000 ​ $ 438,500 ​ $ 438,500 ​ $ 250,000 ​ $ 250,000 Long-term debt ​ 200,000 ​ 200,500 ​ 200,000 ​ 178,000 ​ 200,000 ​ 201,000 Total debt ​ $ 400,000 ​ $ 400,500 ​ $ 638,500 ​ $ 616,500 ​ $ 450,000 ​ $ 451,000 (1) Excludes unamortized debt issuance costs and debt discount The fair value of borrowings under the revolving credit agreement approximates its carrying value due to its short-term nature (Level 1). The fair value of the Company’s 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	3 Months Ended
	May 01, 2021
Income Taxes
Income Taxes	Note 15 Income Taxes The Company’s consolidated effective tax rate can vary considerably from period to period, depending on a number of factors. The Company’s consolidated effective tax rates were 35.5% and 19.9% for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively. The higher tax rate for the thirteen weeks ended May 1, 2021 primarily reflects the non-deductibility of losses at the Company’s Canadian division, which were driven by exit-related costs associated with Naturalizer retail stores. The tax rate was partially offset by discrete tax benefits totaling $1.2 million. During the thirteen weeks ended May 2, 2020, the Company's effective tax rate was impacted by several discrete tax items, including the non-deductibility of a portion of the Company's intangible asset impairment charges, the provision of a valuation allowance related to net deferred tax assets of its Canadian business division and the incremental tax provision related to share-based compensation. As of May 1, 2021, no deferred taxes have been provided on the accumulated unremitted earnings of the Company’s foreign subsidiaries that are not subject to United States income tax, beyond the amounts recorded for the one-time transition tax for the mandatory deemed repatriation of cumulative foreign earnings, as required by the Tax Cuts and Jobs Act. The Company periodically evaluates its foreign investment opportunities and plans, as well as its foreign working capital needs, to determine the level of investment required and, accordingly, determines the level of foreign earnings that is considered indefinitely reinvested. Based upon that evaluation, earnings of the Company’s foreign subsidiaries that are not otherwise subject to United States taxation are considered to be indefinitely reinvested, and accordingly, deferred taxes have not been provided. If changes occur in future investment opportunities and plans, those changes will be reflected when known and may result in providing residual United States deferred taxes on unremitted foreign earnings.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 01, 2021
Commitments and Contingencies
Commitments and Contingencies	Note 16 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. In 2016, the Company submitted a revised plan to address on-site conditions, including direct treatment of source areas, and received approval from the oversight authorities to begin implementing the revised plan. As the treatment of the on-site source areas progresses, the Company expects to convert the pump and treat system to a passive treatment barrier system. 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 work plan 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 work plan, 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 Company continues to implement the expanded remedy work plan that was approved by the oversight authorities in 2015. Based on the progress of the direct remedial action of on-site conditions, the Company submitted a request to the oversight authorities for permission to convert the perimeter pump and treat active remediation system to a passive one. In 2019, a final response was received from the oversight authorities, which is allowing the Company to proceed with implementation of the revised plan. The Company continues to work with outside experts and the oversight authorities on the off-site work plan. The cumulative expenditures for both on-site and off-site remediation through May 1, 2021 were $32.0 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 May 1, 2021 is $9.9 million, of which $8.9 million is recorded within other liabilities and $1.0 million is recorded within other accrued expenses. Of the total $9.9 million reserve, $5.1 million is for off-site remediation and $4.8 million is for on-site remediation. The liability for the on-site remediation was discounted at 4.8%. On an undiscounted basis, the on-site remediation liability would be $13.6 million as of May 1, 2021. The Company expects to spend approximately $0.5 million in 2 0 21 Other 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 remediation plans in conjunction with its environmental consultants and records its best estimate of remediation 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.

Basis of Presentation and Gen_2

Basis of Presentation and General (Policies)	3 Months Ended
	May 01, 2021
Basis of Presentation and General
Basis of Presentation	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. ("the Company"). 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 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, particularly given the impact of the coronavirus pandemic, as further discussed below. Certain prior period amounts in the condensed consolidated financial statements and footnotes have been reclassified to conform to the current period presentation. These reclassifications did not affect net (loss) earnings attributable to Caleres, Inc. The accompanying condensed consolidated financial statements and footnotes should be read in conjunction with the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended January 30, 2021.
Noncontrolling Interests	Noncontrolling Interests During 2019, the Company entered into a joint venture with Brand Investment Holding Limited (“Brand Investment Holding”), a member of the Gemkell Group. The Company and Brand Investment Holding are each 50% owners of the joint venture, which is named CLT Brand Solutions (“CLT”). Net sales and operating earnings were not significant during the thirteen weeks ended May 1, 2021 and May 2, 2020. The Company had a joint venture agreement with a subsidiary of C. banner International Holdings Limited (“CBI”) to market Naturalizer footwear in China. The Company was a 51% owner of the joint venture (“B&H Footwear”), with CBI owning the other 49%. The license enabling the joint venture to market the footwear expired in August 2017 and the parties are in the process of dissolving their joint venture agreements. The Company anticipates the liquidation to be completed during 2021. The Company consolidates CLT and B&H Footwear into its condensed consolidated financial statements. Net earnings (loss) attributable to noncontrolling interests represents the share of net earnings or losses that are attributable to Brand Investment Holding equity. Transactions between the Company and the joint ventures have been eliminated in the condensed consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Derivative Financial Instruments	Derivative Financial Instruments The Company’s hedging policy permits the use of forward contracts as cash flow hedging instruments to manage its currency exposures in foreign-currency-denominated assets, liabilities and cash flows. These derivative financial instruments are viewed as risk management tools and are not used for trading or speculative purposes. The Company recognizes all derivative financial instruments as either assets or liabilities in the condensed consolidated balance sheets and measures those instruments at fair value.
COVID-19 Pandemic	COVID-19 Pandemic The United States economy and the retail industry have begun to recover from the adverse impact of the coronavirus (“COVID-19”) pandemic. The Company’s financial results were significantly impacted during the first half of 2020 as a result of the temporary closure of all retail stores beginning in mid-March. The Company experienced sequential improvement in sales in the second half of 2020, driven by the reopening of the retail stores, and continued solid growth of the e-commerce business. During the first quarter of 2021, as the vaccine became widely distributed and state and local governments continued to ease restrictions, consumer sentiment and spending began to improve. In addition, the additional stimulus measures approved by the federal government provided a boost in consumer spending. These factors strengthened demand for our products in the first quarter of 2021, which contributed to strong growth in our net sales and operating earnings. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security ("CARES") Act was enacted. The CARES Act includes a provision that allows the Company to defer the employer portion of social security payroll tax payments that would have been paid between the enactment date and December 31, 2020, with 50% payable by December 31, 2021 and 50% payable by December 31, 2022. During 2020, the Company deferred approximately $9.4 million of employer social security payroll taxes. As of May 1, 2021, approximately $4.7 million is recorded in other accrued expenses and $4.7 million is recorded in other liabilities on the condensed consolidated balance sheet.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	May 01, 2021
Revenues
Schedule of disaggregated revenue by segment and major source	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended May 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Eliminations and ​ ​ ​ ($ thousands) Famous Footwear Brand Portfolio Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail stores ​ $ 334,745 ​ $ 15,008 ​ $ — ​ $ 349,753 Landed wholesale - e-commerce - drop ship (1) ​ — ​ 20,814 ​ (394) ​ 20,420 E-commerce - Company websites (1) ​ 63,122 ​ 42,738 ​ — ​ 105,860 Total direct-to-consumer sales ​ $ 397,867 ​ $ 78,560 ​ $ (394) ​ $ 476,033 First-cost wholesale - e-commerce (1) ​ — ​ 904 ​ — ​ 904 Landed wholesale - e-commerce (1) ​ ​ — ​ ​ 36,576 ​ ​ — ​ ​ 36,576 Landed wholesale - other ​ — ​ 115,347 ​ (9,379) ​ 105,968 First-cost wholesale ​ — ​ 16,718 ​ — ​ 16,718 Licensing and royalty ​ — ​ 2,164 ​ — ​ 2,164 Other (2) ​ 237 ​ 36 ​ — ​ 273 Total net sales ​ $ 398,104 ​ $ 250,305 ​ $ (9,773) ​ $ 638,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended May 2, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Eliminations and ​ ​ ​ ($ thousands) Famous Footwear Brand Portfolio Other Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail stores ​ $ 137,117 ​ $ 11,822 ​ $ — ​ $ 148,939 Landed wholesale - e-commerce - drop ship (1) ​ ​ — ​ ​ 19,231 ​ ​ — ​ ​ 19,231 E-commerce - Company websites (1) ​ 54,178 ​ 32,989 ​ — ​ 87,167 Total direct-to-consumer sales ​ $ 191,295 ​ $ 64,042 ​ $ — ​ $ 255,337 First-cost wholesale - e-commerce (1) ​ — ​ 246 ​ — ​ 246 Landed wholesale - e-commerce (1) ​ ​ — ​ ​ 26,242 ​ ​ — ​ ​ 26,242 Landed wholesale - other ​ — ​ 112,568 ​ (11,306) ​ 101,262 First-cost wholesale ​ — ​ 11,921 ​ — ​ 11,921 Licensing and royalty ​ — ​ 2,186 ​ — ​ 2,186 Other (2) ​ (43) ​ 33 ​ — ​ (10) Net sales ​ $ 191,252 ​ $ 217,238 ​ $ (11,306) ​ $ 397,184 (1) Collectively referred to as "e-commerce" below (2) Includes breakage revenue from unredeemed gift cards
Schedule of significant contract balances from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Customer allowances and discounts ​ $ 19,260 ​ $ 24,768 ​ $ 17,043 Loyalty programs liability ​ 16,177 ​ 17,326 ​ 13,986 Returns reserve ​ 14,469 ​ 15,427 ​ 11,040 Gift card liability ​ 5,423 ​ 5,528 ​ 6,091
Schedule of allowance for expected credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 ​ May 2, 2020 Balance, beginning of period ​ $ 14,928 ​ $ 1,813 Adjustment upon adoption of ASU 2016-13 ​ ​ — ​ ​ 2,521 Provision/adjustment for expected credit losses (1) ​ ​ (152) ​ ​ 8,704 Uncollectible accounts written off, net of recoveries ​ ​ (3,404) ​ ​ 356 Balance, end of period ​ $ 11,372 ​ $ 13,394 (1) The Company’s provision/adjustment for expected credit losses for the thirteen weeks ended May 2, 2020 was higher than the comparable period in 2021 as a result of the COVID-19 pandemic and its impact on the financial condition of several of the Company’s wholesale customers.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	May 01, 2021
Earnings (Loss) Per Share
Schedule of earnings per share, basic and diluted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands, except per share amounts) May 1, 2021 May 2, 2020 ​ ​ ​ ​ ​ ​ ​ NUMERATOR ​ ​ ​ ​ ​ ​ Net earnings (loss) ​ $ 6,385 ​ $ (346,172) Net (earnings) loss attributable to noncontrolling interests ​ (238) ​ 334 Net earnings (loss) attributable to Caleres, Inc. ​ $ 6,147 ​ $ (345,838) Net earnings allocated to participating securities ​ (210) ​ — Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities ​ $ 5,937 ​ $ (345,838) ​ ​ ​ DENOMINATOR ​ ​ Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ 36,707 ​ 38,649 Dilutive effect of share-based awards ​ 158 ​ — Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ 36,865 ​ 38,649 ​ ​ ​ Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ $ 0.16 ​ $ (8.95) ​ ​ ​ Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders ​ $ 0.16 ​ $ (8.95)

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	May 01, 2021
Business Segment Information
Schedule of segment reporting information, by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Famous ​ Brand ​ Eliminations ​ ​ ​ ($ thousands) Footwear Portfolio and Other Total Thirteen Weeks Ended May 1, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ 398,104 ​ $ 250,305 ​ $ (9,773) ​ $ 638,636 Intersegment sales (1) ​ — ​ ​ 9,773 ​ ​ — ​ 9,773 Operating earnings (loss) ​ 47,873 ​ (2,821) ​ (27,182) ​ 17,870 Segment assets ​ 758,823 ​ 794,430 ​ 249,570 ​ 1,802,823 ​ ​ ​ ​ ​ Thirteen Weeks Ended May 2, 2020 ​ ​ ​ ​ Net sales ​ $ 191,252 ​ $ 217,238 ​ $ (11,306) ​ $ 397,184 Intersegment sales (1) ​ — ​ 11,306 ​ — ​ 11,306 Operating loss ​ (67,540) ​ (345,748) ​ (12,923) ​ (426,211) Segment assets ​ 897,046 ​ 995,760 ​ 330,879 ​ 2,223,685 ​ ​ ​ ​ (1) Included in net sales in the Brand Portfolio segment and eliminated in the Eliminations and Other category.
Reconciliation of operating profit (loss) from segments to consolidated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Operating earnings (loss) ​ $ 17,870 ​ $ (426,211) Interest expense, net ​ (11,792) ​ (9,478) Other income, net ​ 3,828 ​ 3,585 Earnings (loss) before income taxes ​ $ 9,906 ​ $ (432,104)

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	May 01, 2021
Inventories
Schedule of inventory, current	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Raw materials ​ $ 13,010 ​ $ 16,848 ​ $ 14,592 Work-in-process ​ 365 ​ 357 ​ 349 Finished goods ​ 431,924 ​ 568,102 ​ 473,014 Inventories, net ​ $ 445,299 ​ $ 585,307 ​ $ 487,955

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	May 01, 2021
Goodwill and Intangible Assets
Schedule of intangible assets and goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 May 2, 2020 January 30, 2021 Intangible Assets ​ ​ ​ Famous Footwear ​ $ 2,800 ​ $ 2,800 ​ $ 2,800 Brand Portfolio ​ 342,083 ​ 365,888 ​ 342,083 Total intangible assets ​ 344,883 ​ 368,688 ​ 344,883 Accumulated amortization ​ (112,915) ​ (99,996) ​ (109,768) Total intangible assets, net ​ 231,968 ​ 268,692 ​ 235,115 Goodwill ​ ​ ​ Brand Portfolio ​ 4,956 ​ 4,956 ​ 4,956 Total goodwill ​ 4,956 ​ 4,956 ​ 4,956 Goodwill and intangible assets, net ​ $ 236,924 ​ $ 273,648 ​ $ 240,071
Schedule of finite-lived and indefinite lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ($ thousands) May 1, 2021 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis (1) ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 2 - 40 ​ $ 299,488 ​ $ 104,459 ​ $ 10,200 ​ $ 184,829 Trade names Indefinite ​ 107,400 ​ — ​ 92,000 ​ 15,400 Customer relationships 15 - 16 44,200 8,456 4,005 31,739 ​ ​ ​ ​ $ 451,088 ​ $ 112,915 ​ $ 106,205 ​ $ 231,968 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 2, 2020 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 15 - 40 ​ $ 288,788 ​ $ 94,294 ​ $ — ​ $ 194,494 Trade names Indefinite ​ 118,100 ​ — ​ 82,400 ​ 35,700 Customer relationships 15 - 16 44,200 5,702 — 38,498 ​ ​ ​ ​ $ 451,088 ​ $ 99,996 ​ $ 82,400 ​ $ 268,692 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 30, 2021 ​ Estimated Useful Lives ​ ​ Accumulated Accumulated ​ ​ ​ ​ (In Years) ​ Cost Basis (1) ​ Amortization ​ Impairment ​ Net Carrying Value Trade names 2 - 40 ​ $ 299,488 ​ $ 101,919 ​ $ 10,200 ​ $ 187,369 Trade names Indefinite ​ 107,400 ​ — ​ 92,000 ​ 15,400 Customer relationships 15 - 16 44,200 7,849 4,005 32,346 ​ ​ ​ ​ $ 451,088 ​ $ 109,768 ​ $ 106,205 ​ $ 235,115 (1) The Via Spiga trade name was reclassified from indefinite-lived trade names to definite-lived trade names. The remaining carrying value of $0.5 million is being amortized over two years .

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 01, 2021
Leases
Schedule of components of lease expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) ​ May 1, 2021 May 2, 2020 Operating lease expense $ 40,577 $ 45,240 Variable lease expense ​ 11,490 ​ 11,334 Short-term lease expense ​ 565 ​ 712 Sublease income ​ (29) ​ (19) Total lease expense ​ $ 52,603 ​ $ 57,267
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Cash paid for lease liabilities (1) ​ $ 56,453 ​ $ 15,117 Cash received from sublease income ​ 29 ​ 19 ​ (1) Cash paid for lease liabilities for the thirteen weeks ended May 1, 2021 includes payment of certain lease payments deferred in 2020, as described above, as well as lease termination costs associated with the Naturalizer retail store closings, as further discussed in Note 5 to the condensed consolidated financial statements. In addition, cash paid for lease liabilities during the thirteen weeks ended May 2, 2020 was significantly lower than comparable periods, reflecting the deferral of lease payments during the onset of the pandemic.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	May 01, 2021
Shareholders' Equity
Schedule of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and Derivative ​ ​ ​ ​ ​ ​ ​ Other ​ Financial ​ Accumulated ​ ​ Foreign ​ Postretirement ​ Instrument ​ Other ​ ​ Currency ​ Transactions ​ Transactions ​ Comprehensive ($ thousands) ​ Translation ​ (1) ​ (2) ​ (Loss) Income Balance at January 30, 2021 ​ $ (111) ​ $ (9,025) ​ $ — ​ $ (9,136) Other comprehensive loss before reclassifications ​ ​ (166) ​ ​ — ​ ​ — ​ ​ (166) Reclassifications: ​ ​ ​ ​ ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive loss ​ ​ — ​ ​ 463 ​ ​ — ​ ​ 463 Tax benefit ​ — ​ (97) ​ — ​ (97) Net reclassifications ​ — ​ 366 ​ — ​ 366 Other comprehensive (loss) income ​ (166) ​ 366 ​ — ​ 200 Balance at May 1, 2021 ​ $ (277) ​ $ (8,659) ​ $ — ​ $ (8,936) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 1, 2020 ​ $ (580) ​ $ (31,171) ​ $ (92) ​ $ (31,843) Other comprehensive (loss) income before reclassifications ​ (1,531) ​ — ​ 87 ​ (1,444) Reclassifications: ​ ​ ​ ​ Amounts reclassified from accumulated other comprehensive loss ​ — ​ 694 ​ 6 ​ 700 Tax benefit ​ — ​ (628) ​ (1) ​ (629) Net reclassifications ​ — ​ 66 ​ 5 ​ 71 Other comprehensive (loss) income ​ (1,531) ​ 66 ​ 92 ​ (1,373) Balance at May 2, 2020 ​ $ (2,111) ​ $ (31,105) ​ $ — ​ $ (33,216) (1) Amounts reclassified are included in other income, net. Refer to Note 13 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. Refer to Note 1 to the condensed consolidated financial statements for additional information related to derivative financial instruments .

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	May 01, 2021
Share-Based Compensation
Share-based payment arrangement, restricted stock and restricted stock unit, activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ ​ ​ Thirteen Weeks Ended ​ ​ May 1, 2021 ​ ​ ​ May 2, 2020 ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ Weighted- ​ ​ Total Number ​ ​ Average ​ ​ ​ Total Number ​ ​ Average ​ ​ of Restricted ​ ​ Grant Date ​ ​ ​ of Restricted ​ ​ Grant Date ​ Shares ​ Fair Value ​ Shares ​ Fair Value January 30, 2021 ​ 1,397,227 ​ $ 16.74 ​ February 1, 2020 ​ 1,271,795 ​ $ 26.77 Granted ​ 562,506 ​ ​ 18.63 ​ Granted ​ 550,683 ​ ​ 5.81 Forfeited ​ (46,500) ​ ​ 16.08 ​ Forfeited ​ (32,687) ​ ​ 25.60 Vested (484,389) ​ 26.96 Vested (368,048) ​ 28.38 May 1, 2021 1,428,844 ​ $ 14.04 ​ May 2, 2020 1,421,743 ​ $ 18.20

Retirement and Other Benefit _2

Retirement and Other Benefit Plans (Tables)	3 Months Ended
	May 01, 2021
Notes Tables
Schedule of net benefit costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Other Postretirement Benefits ​ Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) ​ May 1, 2021 May 2, 2020 May 1, 2021 May 2, 2020 Service cost ​ $ 1,942 ​ $ 2,160 ​ $ — ​ $ — Interest cost ​ 2,813 ​ 3,154 ​ 10 ​ 10 Expected return on assets ​ (7,114) ​ (7,443) ​ — ​ — Amortization of: ​ ​ ​ ​ ​ ​ Actuarial loss (gain) ​ 615 ​ 1,083 ​ (27) ​ (39) Prior service income ​ (125) ​ (350) ​ — ​ — Total net periodic benefit income ​ $ (1,869) ​ $ (1,396) ​ $ (17) ​ $ (29) ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 01, 2021
Fair Value Measurements
Schedule of fair value, assets and liabilities measured on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 57,000 ​ $ 57,000 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ 8,169 ​ 8,169 ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (8,169) ​ (8,169) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (1,185) ​ (1,185) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (2,571) ​ (2,571) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (45,523) ​ — ​ — ​ ​ (45,523) May 2, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 146,009 ​ $ 146,009 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ ​ 7,435 ​ ​ 7,435 ​ ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (7,435) ​ (7,435) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (818) ​ (818) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (1,093) ​ (1,093) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (18,433) ​ — ​ — ​ ​ (18,433) January 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents – money market funds ​ $ 45,000 ​ $ 45,000 ​ $ — ​ $ — Non-qualified deferred compensation plan assets ​ 7,918 ​ 7,918 ​ — ​ ​ — Non-qualified deferred compensation plan liabilities ​ (7,918) ​ (7,918) ​ — ​ ​ — Deferred compensation plan liabilities for non-employee directors ​ (989) ​ (989) ​ — ​ ​ — Restricted stock units for non-employee directors ​ (1,661) ​ (1,661) ​ — ​ ​ — Mandatory purchase obligation - Blowfish Malibu ​ (39,134) ​ — ​ — ​ ​ (39,134)
Details of long-lived asset impairment charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ($ thousands) May 1, 2021 May 2, 2020 Long-Lived Asset Impairment Charges ​ ​ Famous Footwear ​ $ 400 ​ $ 14,896 Brand Portfolio ​ 1,488 ​ 20,326 Total long-lived asset impairment charges ​ $ 1,888 ​ $ 35,222
Fair value, by balance Sheet grouping	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 1, 2021 May 2, 2020 January 30, 2021 ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ​ Carrying ​ ​ ​ ($ thousands) Value (1) Fair Value Value (1) Fair Value Value (1) Fair Value Borrowings under revolving credit agreement ​ $ 200,000 ​ $ 200,000 ​ $ 438,500 ​ $ 438,500 ​ $ 250,000 ​ $ 250,000 Long-term debt ​ 200,000 ​ 200,500 ​ 200,000 ​ 178,000 ​ 200,000 ​ 201,000 Total debt ​ $ 400,000 ​ $ 400,500 ​ $ 638,500 ​ $ 616,500 ​ $ 450,000 ​ $ 451,000 (1) Excludes unamortized debt issuance costs and debt discount

Basis of Presentation and Gen_3

Basis of Presentation and General (Details) - USD ($) $ in Millions	May 01, 2021	Jan. 30, 2021
Basis of Presentation
Deferred employer social security payroll taxes, CARES Act		$ 9.4
Other Accrued Liabilities
Basis of Presentation
Deferred employer social security payroll taxes, CARES Act	$ 4.7
Other Noncurrent Liabilities
Basis of Presentation
Deferred employer social security payroll taxes, CARES Act	$ 4.7
CLT Brand Solutions
Basis of Presentation
Percentage of joint venture		50.00%
B&H Footwear
Basis of Presentation
Percentage of joint venture	51.00%
B&H Footwear | C. banner International Holdings Limited
Basis of Presentation
Noncontrolling interest, ownership percentage by noncontrolling owners	49.00%

Revenues (Details)

Revenues (Details) - Loyalty Program - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020
Revenues
Contract with customer, liability, increase due to points and material rights accrued for purchases	$ 9.3	$ 5.9
Contract with customer, liability, decrease due to expirations and redemptions	$ 7.1	$ 5

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Revenues
Net sales	$ 638,636	$ 397,184
Famous Footwear
Revenues
Net sales	398,104	191,252
Brand Portfolio
Revenues
Net sales	250,305	217,238
Eliminations and Other
Revenues
Net sales	(9,773)	(11,306)
Retail stores
Revenues
Net sales	349,753	148,939
Retail stores | Famous Footwear
Revenues
Net sales	334,745	137,117
Retail stores | Brand Portfolio
Revenues
Net sales	15,008	11,822
Retail stores | Eliminations and Other
Revenues
Net sales	0	0
Landed wholesale - E-commerce / drop ship
Revenues
Net sales	20,420	19,231
Landed wholesale - E-commerce / drop ship | Famous Footwear
Revenues
Net sales	0	0
Landed wholesale - E-commerce / drop ship | Brand Portfolio
Revenues
Net sales	20,814	19,231
Landed wholesale - E-commerce / drop ship | Eliminations and Other
Revenues
Net sales	(394)	0
E-commerce - Company websites
Revenues
Net sales	105,860	87,167
E-commerce - Company websites | Famous Footwear
Revenues
Net sales	63,122	54,178
E-commerce - Company websites | Brand Portfolio
Revenues
Net sales	42,738	32,989
E-commerce - Company websites | Eliminations and Other
Revenues
Net sales	0	0
Direct to consumer
Revenues
Net sales	476,033	255,337
Direct to consumer | Famous Footwear
Revenues
Net sales	397,867	191,295
Direct to consumer | Brand Portfolio
Revenues
Net sales	78,560	64,042
Direct to consumer | Eliminations and Other
Revenues
Net sales	(394)	0
First-cost wholesale - e-commerce
Revenues
Net sales	904	246
First-cost wholesale - e-commerce | Famous Footwear
Revenues
Net sales	0	0
First-cost wholesale - e-commerce | Brand Portfolio
Revenues
Net sales	904	246
First-cost wholesale - e-commerce | Eliminations and Other
Revenues
Net sales	0	0
Landed wholesale - e-commerce
Revenues
Net sales	36,576	26,242
Landed wholesale - e-commerce | Famous Footwear
Revenues
Net sales	0	0
Landed wholesale - e-commerce | Brand Portfolio
Revenues
Net sales	36,576	26,242
Landed wholesale - e-commerce | Eliminations and Other
Revenues
Net sales	0	0
Landed wholesale - other
Revenues
Net sales	105,968	101,262
Landed wholesale - other | Famous Footwear
Revenues
Net sales	0	0
Landed wholesale - other | Brand Portfolio
Revenues
Net sales	115,347	112,568
Landed wholesale - other | Eliminations and Other
Revenues
Net sales	(9,379)	(11,306)
First-cost wholesale
Revenues
Net sales	16,718	11,921
First-cost wholesale | Famous Footwear
Revenues
Net sales	0	0
First-cost wholesale | Brand Portfolio
Revenues
Net sales	16,718	11,921
First-cost wholesale | Eliminations and Other
Revenues
Net sales	0	0
Licensing and royalty
Revenues
Net sales	2,164	2,186
Licensing and royalty | Famous Footwear
Revenues
Net sales	0	0
Licensing and royalty | Brand Portfolio
Revenues
Net sales	2,164	2,186
Licensing and royalty | Eliminations and Other
Revenues
Net sales	0	0
Other
Revenues
Net sales	273	(10)
Other | Famous Footwear
Revenues
Net sales	237	(43)
Other | Brand Portfolio
Revenues
Net sales	36	33
Other | Eliminations and Other
Revenues
Net sales	$ 0	$ 0

Revenues - Contract Balances (D

Revenues - Contract Balances (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021	May 02, 2020
Revenues
Customer allowances and discounts	$ 19,260	$ 17,043	$ 24,768
Loyalty programs liability	16,177	13,986	17,326
Returns reserve	14,469	11,040	15,427
Gift card liability	$ 5,423	$ 6,091	$ 5,528

Revenues - Allowance for Expect

Revenues - Allowance for Expected Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance, beginning of period	$ 14,928	$ 1,813
Provision/adjustment for expected credit losses	(152)	8,704
Uncollectible accounts written off, net of recoveries	(3,404)	356
Balance, end of period	$ 11,372	13,394
Cumulative effect adjustment | Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Balance, beginning of period		$ 2,521

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	3 Months Ended
	May 01, 2021	May 02, 2020
Earnings (Loss) Per Share
Antidilutive securities excluded from computation of earnings per share, amount	16,667	22,667
Stock Repurchase Program
Earnings (Loss) Per Share
Treasury stock, shares, acquired (in shares)	0	1,510,888
Stock Repurchase Program, 2018
Earnings (Loss) Per Share
Stock repurchase program, number of shares authorized to be repurchased	2,500,000
Stock Repurchase Program, 2019
Earnings (Loss) Per Share
Stock repurchase program, number of shares authorized to be repurchased	5,000,000

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Earnings (Loss) Per Share
Net earnings (loss)	$ 6,385	$ (346,172)
Net (earnings) loss attributable to noncontrolling interests	(238)	334
Net earnings (loss) attributable to Caleres, Inc.	6,147	(345,838)
Net earnings allocated to participating securities	(210)
Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities	$ 5,937	$ (345,838)
Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders	36,707	38,649
Dilutive effect of share-based awards (in shares)	158
Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders	36,865	38,649
Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders	$ 0.16	$ (8.95)
Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders	$ 0.16	$ (8.95)

Restructuring and Other Speci_2

Restructuring and Other Special Charges (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	May 01, 2021USD ($)store$ / shares	May 02, 2020USD ($)$ / shares	Jul. 06, 2018USD ($)
Restructuring and Other Special Charges
Fair value adjustments of mandatory purchase obligation	$ 6,389	$ 3,233
Restructuring and other special charges, net	13,482	60,196
Blowfish, LLC
Restructuring and Other Special Charges
Business acquisitions purchase obligation	$ 45,500		$ 9,000
Period after which noncontrolling interest is subject to the mandatory purchase obligation	3 years
Fair value adjustments of mandatory purchase obligation	$ 6,400	3,200
Fair value adjustments of mandatory purchase obligation, after tax basis	$ 4,700	$ 2,400
Fair value adjustments of mandatory purchase obligation, per diluted share (in dollars per share) | $ / shares	$ 0.13	$ 0.06
Brand Portfolio | Naturalizer Store Closings | Restructuring and Other Special Charges
Restructuring and Other Special Charges
Number of retail stores closed | store	73
Restructuring reserve	$ 5,200
Brand Portfolio | Cost of Sales | Fergie Brand Exit | Inventory Mark downs
Restructuring and Other Special Charges
Total restructuring costs		$ 1,600
Restructuring costs, after-tax basis		$ 1,200
Restructuring and related cost, incurred cost, per diluted share | $ / shares		$ 0.03
Brand Portfolio | Restructuring and Other Special Charges | Naturalizer Store Closings | Restructuring and Other Special Charges
Restructuring and Other Special Charges
Total restructuring costs	13,500
Restructuring costs, after-tax basis	$ 11,900
Restructuring and related cost, incurred cost, per diluted share | $ / shares	$ 0.31
COVID-19
Restructuring and Other Special Charges
Restructuring and related cost, incurred cost, per diluted share | $ / shares		$ 1.90
Restructuring and related costs, incurred cost, total	$ 0	$ 93,600
Restructuring and other special charges, net		60,200
Restructuring and related cost, incurred cost, after tax		73,300
COVID-19 | Cost of Sales
Restructuring and Other Special Charges
Inventory write-down		33,400
COVID-19 | Brand Portfolio
Restructuring and Other Special Charges
Restructuring and other special charges, net		43,800
COVID-19 | Brand Portfolio | Cost of Sales
Restructuring and Other Special Charges
Inventory write-down		27,400
COVID-19 | Famous Footwear
Restructuring and Other Special Charges
Restructuring and other special charges, net		16,000
COVID-19 | Famous Footwear | Cost of Sales
Restructuring and Other Special Charges
Inventory write-down		6,000
COVID-19 | Eliminations and Other
Restructuring and Other Special Charges
Restructuring and other special charges, net		$ 400

Business Segment Information -

Business Segment Information - Key Financial Measures (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020	Jan. 30, 2021
Business Segment Information - Key Financial Measures
Net sales	$ 638,636	$ 397,184
Intersegment sales	9,773	11,306
Operating earnings (loss)	17,870	(426,211)
Segment assets	1,802,823	2,223,685	$ 1,867,050
Famous Footwear
Business Segment Information - Key Financial Measures
Net sales	398,104	191,252
Operating earnings (loss)	47,873	(67,540)
Segment assets	758,823	897,046
Brand Portfolio
Business Segment Information - Key Financial Measures
Net sales	250,305	217,238
Intersegment sales	9,773	11,306
Operating earnings (loss)	(2,821)	(345,748)
Segment assets	794,430	995,760
Eliminations and Other
Business Segment Information - Key Financial Measures
Net sales	(9,773)	(11,306)
Operating earnings (loss)	(27,182)	(12,923)
Segment assets	$ 249,570	$ 330,879

Business Segment Information _2

Business Segment Information - Reconciliation of Operating Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Business Segment Information
Operating earnings (loss)	$ 17,870	$ (426,211)
Interest expense, net	(11,792)	(9,478)
Other income, net	3,828	3,585
Earnings (loss) before income taxes	$ 9,906	$ (432,104)

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021	May 02, 2020
Inventories
Raw materials	$ 13,010	$ 14,592	$ 16,848
Work-in-process	365	349	357
Finished goods	431,924	473,014	568,102
Inventories, net	$ 445,299	$ 487,955	$ 585,307

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 01, 2020	May 01, 2021	May 02, 2020	Jan. 30, 2021
Goodwill and Intangible Assets
Amortization of intangible assets		$ 3,147	$ 3,212
2022		12,100
2023		11,900
2024 and 2025		11,000
Goodwill, impairment loss		0	240,300
Indefinite-Lived Intangible Assets, Impairment		0
Indefinite-lived Trade names
Goodwill and Intangible Assets
Indefinite-lived intangible assets, net carrying value		15,400	35,700	$ 15,400
Indefinite-Lived Intangible Assets, Impairment			22,400
Accumulated Impairment		92,000	82,400	92,000
Tradenames
Goodwill and Intangible Assets
Accumulated Impairment		10,200		10,200
Customer Relationships
Goodwill and Intangible Assets
Accumulated Impairment		$ 4,005		$ 4,005
Allen Edmonds
Goodwill and Intangible Assets
Finite-lived intangible assets, impairment	$ 23,800
Allen Edmonds | Indefinite-lived Trade names
Goodwill and Intangible Assets
Indefinite-Lived Intangible Assets, Impairment			12,200
Allen Edmonds | Tradenames
Goodwill and Intangible Assets
Finite-lived intangible assets, impairment	19,800
Allen Edmonds | Customer Relationships
Goodwill and Intangible Assets
Finite-lived intangible assets, impairment	$ 4,000
Via Spiga | Indefinite-lived Trade names
Goodwill and Intangible Assets
Indefinite-lived intangible assets, net carrying value			500
Indefinite-Lived Intangible Assets, Impairment			$ 10,200
Indefinite-lived intangible assets, impairment period (in years)			2 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	May 01, 2021	Jan. 30, 2021	May 02, 2020
Goodwill and Intangible Assets
Intangible assets	$ 344,883	$ 344,883	$ 368,688
Accumulated amortization	(112,915)	(109,768)	(99,996)
Total intangible assets, net	231,968	235,115	268,692
Goodwill	4,956	4,956	4,956
Goodwill and intangible assets, net	236,924	240,071	273,648
Famous Footwear
Goodwill and Intangible Assets
Intangible assets	2,800	2,800	2,800
Brand Portfolio
Goodwill and Intangible Assets
Intangible assets	342,083	342,083	365,888
Goodwill	$ 4,956	$ 4,956	$ 4,956

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Finite and Infinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	May 01, 2021	May 02, 2020	Jan. 30, 2021
Goodwill and Intangible Assets
Finite-Lived Intangible Assets, Accumulated Amortization	$ 112,915	$ 99,996	$ 109,768
Indefinite-Lived Intangible Assets, Impairment	0
Intangible assets, cost basis	451,088	451,088	451,088
Intangible Assets, Impairment	106,205	82,400	106,205
Intangible Assets, Net Carrying Value	231,968	268,692	235,115
Indefinite-lived Trade names
Goodwill and Intangible Assets
Indefinite-Lived Intangible Assets, Cost Basis	107,400	118,100	107,400
Indefinite-Lived Intangible Assets, Impairment		22,400
Indefinite-lived intangible assets, net carrying value	$ 15,400	35,700	15,400
Indefinite-lived Trade Names excluding Via Spiga Trademark
Goodwill and Intangible Assets
Indefinite-lived intangible assets, impairment period (in years)	2 years
Indefinite-lived intangible assets, net carrying value	$ 500
Tradenames
Goodwill and Intangible Assets
Finite-lived intangible assets, cost basis	299,488	288,788	299,488
Finite-Lived Intangible Assets, Accumulated Amortization	104,459	94,294	101,919
Finite-Lived Intangible Assets, Net Carrying Value	$ 184,829	$ 194,494	$ 187,369
Tradenames | Minimum
Goodwill and Intangible Assets
Finite-Lived Intangible Assets, Estimated Useful Life (Year)	2 years	15 years	2 years
Tradenames | Maximum
Goodwill and Intangible Assets
Finite-Lived Intangible Assets, Estimated Useful Life (Year)	40 years	40 years	40 years
Customer Relationships
Goodwill and Intangible Assets
Finite-lived intangible assets, cost basis	$ 44,200	$ 44,200	$ 44,200
Finite-Lived Intangible Assets, Accumulated Amortization	8,456	5,702	7,849
Finite-Lived Intangible Assets, Net Carrying Value	$ 31,739	$ 38,498	$ 32,346
Customer Relationships | Minimum
Goodwill and Intangible Assets
Finite-Lived Intangible Assets, Estimated Useful Life (Year)	15 years	15 years	15 years
Customer Relationships | Maximum
Goodwill and Intangible Assets
Finite-Lived Intangible Assets, Estimated Useful Life (Year)	16 years	16 years	16 years
Via Spiga | Indefinite-lived Trade names
Goodwill and Intangible Assets
Indefinite-Lived Intangible Assets, Impairment		$ 10,200
Indefinite-lived intangible assets, impairment period (in years)		2 years
Indefinite-lived intangible assets, net carrying value		$ 500

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended
	May 01, 2021USD ($)locationlease	May 02, 2020USD ($)	Jan. 30, 2021USD ($)
Leases
Impairment of long-lived assets held-for-use	$ 1,888	$ 35,222
Lease concessions		0
Right-of-use asset obtained in exchange for operating lease liability	16,000
Operating lease, right-of-use asset	$ 526,011	648,534	$ 554,303
Current Fiscal Year
Leases
Number of locations of Lease commitments not yet commenced in current fiscal year | location	3
Number of anticipated leases in current fiscal year | lease	1
Total operating lease liability	$ 600
Operating lease, right-of-use asset	$ 600
Next Fiscal Year
Leases
Number of anticipated leases in next fiscal year | lease	2
Total operating lease liability	$ 1,800
Operating lease, right-of-use asset	1,800
Selling and Administrative Expenses
Leases
Lease concessions	1,300
COVID-19
Leases
Operating lease, impairment loss		20,400
Impairment of long-lived assets held-for-use		14,800
Retail Stores
Leases
Asset impairment charges	$ 1,900	$ 35,200

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Leases
Operating lease expense	$ 40,577	$ 45,240
Variable lease expense	11,490	11,334
Short-term lease expense	565	712
Sublease income	(29)	(19)
Total lease expense	$ 52,603	$ 57,267

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Leases
Cash paid for lease liabilities	$ 56,453	$ 15,117
Cash received from sublease income	$ 29	$ 19

Long-term and Short-term Fina_2

Long-term and Short-term Financing Arrangements (Details) - USD ($) $ in Millions	Apr. 14, 2020	May 01, 2021	Jul. 27, 2015
Long-term and Short-term Financing Arrangements
Debt instrument, interest rate, stated percentage			6.25%
Redeemed prior to August15, 2021
Long-term and Short-term Financing Arrangements
Senior notes redemption price		101.563%
Redeemed after August15, 2021
Long-term and Short-term Financing Arrangements
Senior notes redemption price		100.00%
Senior Notes Due 2023
Long-term and Short-term Financing Arrangements
Total senior notes			$ 200
Senior notes, repurchase price, change of control		101.00%
Revolving Credit Facility
Long-term and Short-term Financing Arrangements
Total long-term line of credit		$ 200
Letters of credit outstanding, amount		12.5
Line of credit facility, remaining borrowing capacity		$ 211.3
Revolving Credit Facility | Third Amendment to Fourth Amended and Restated Credit Agreement
Long-term and Short-term Financing Arrangements
Line of credit facility, excess availability, percent to trigger debt restrictions		10.00%
Line of credit facility, excess availability to trigger debt restrictions		$ 40
Line of credit facility, fixed charge coverage ratio to trigger debt restrictions		1
Revolving Credit Facility | Fourth Amendment to Fourth Amended and Restated Credit Agreement
Long-term and Short-term Financing Arrangements
Line of credit facility, maximum borrowing capacity	$ 600
Line of credit facility, option to increase, amount	150
Line of credit facility, additional maximum borrowing capacity	$ 100
Debt instrument, increase in basis spread on variable rate	0.75%
Line of credit facility, unused capacity, commitment fee percentage increase	0.05%
Minimum | Revolving Credit Facility | Fourth Amendment to Fourth Amended and Restated Credit Agreement
Long-term and Short-term Financing Arrangements
Debt instrument, basis spread on variable rate	1.00%

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Balance	$ (9,136)
Other comprehensive income (loss), net of tax	142	$ (1,392)
Balance	(8,936)	(33,216)
Accumulated Foreign Currency Adjustment Attributable to Parent
Balance	(111)	(580)
Other comprehensive (loss) income before reclassifications	(166)	(1,531)
Other comprehensive income (loss), net of tax	(166)	(1,531)
Balance	(277)	(2,111)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Balance	(9,025)	(31,171)
Amounts reclassified from accumulated other comprehensive loss	463	694
Tax (benefit) provision	(97)	(628)
Net reclassifications	366	66
Other comprehensive income (loss), net of tax	366	66
Balance	(8,659)	(31,105)
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent
Balance		(92)
Other comprehensive (loss) income before reclassifications		87
Amounts reclassified from accumulated other comprehensive loss		6
Tax (benefit) provision		(1)
Net reclassifications		5
Other comprehensive income (loss), net of tax		92
Accumulated Other Comprehensive (Loss) Income
Balance	(9,136)	(31,843)
Other comprehensive (loss) income before reclassifications	(166)	(1,444)
Amounts reclassified from accumulated other comprehensive loss	463	700
Tax (benefit) provision	(97)	(629)
Net reclassifications	366	71
Other comprehensive income (loss), net of tax	200	(1,373)
Balance	$ (8,936)	$ (33,216)

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020
Share-based Compensation
Share-based payment arrangement, expense	$ 2.4	$ 2.4
Share-based compensation arrangement by share-based payment award shares issued in period	327,268	414,121
Long-term incentive awards granted during the period target value	$ 6.5
Long-term incentive awards granted during the period maximum value	$ 13
Long-term incentive award vesting period	3 years
Restricted Stock
Share-based Compensation
Granted, total number of restricted shares (in shares)	562,506	550,683
Granted (in dollars per share)	$ 18.63	$ 5.81
Restricted Stock | Share-based Compensation Award, Cliff-vesting, Tranche One
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	2 years
Granted, total number of restricted shares (in shares)	20,000
Restricted Stock | Share-based Compensation Award, Graded-vesting
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	3 years	3 years
Granted, total number of restricted shares (in shares)	542,506
Restricted Stock | Share-based Compensation Award, Graded-vesting Tranche One
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	2 years	2 years
Share-based compensation arrangement by share-based payment award, performance percentage earned	50.00%	50.00%
Restricted Stock | Share-based Compensation Award, Graded-vesting Tranche Two
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	3 years	3 years
Share-based compensation arrangement by share-based payment award, performance percentage earned	50.00%	50.00%
Performance Shares
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Granted, total number of restricted shares (in shares)	175,500	0
Granted (in dollars per share)	$ 18.63
Performance Shares | Minimum
Share-based Compensation
Share-based compensation arrangement by share-based payment award, performance percentage earned	0.00%
Performance Shares | Maximum
Share-based Compensation
Share-based compensation arrangement by share-based payment award, performance percentage earned	200.00%
Restricted Stock Units (RSUs)
Share-based Compensation
Share-based compensation arrangement by share-based payment award, award vesting period	1 year
Restricted Stock Units (RSUs) | Non-employee Director
Share-based Compensation
Granted (in dollars per share)	$ 20.91	$ 3.86
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, dividend equivalent	1,712	8,309

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock - $ / shares	3 Months Ended
	May 01, 2021	May 02, 2020
Share-based Compensation
Nonvested, total number of restricted shares (in shares)	1,397,227	1,271,795
Granted, total number of restricted shares (in shares)	562,506	550,683
Vested, total number of restricted shares (in shares)	(484,389)	(368,048)
Forfeited, total number of restricted shares (in shares)	(46,500)	(32,687)
Nonvested, total number of restricted shares (in shares)	1,428,844	1,421,743
Nonvested, weighted-average grant date fair value (in dollars per share)	$ 16.74	$ 26.77
Granted (in dollars per share)	18.63	5.81
Vested (in dollars per share)	26.96	28.38
Forfeited (in dollars per share)	16.08	25.60
Nonvested, weighted-average grant date fair value (in dollars per share)	$ 14.04	$ 18.20

Retirement and Other Benefit _3

Retirement and Other Benefit Plans - Components of Net Periodic Benefit Income (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Pension Plan
Retirement and Other Benefit Plans
Service cost	$ 1,942	$ 2,160
Interest cost	2,813	3,154
Expected return on assets	(7,114)	(7,443)
Actuarial loss (gain)	615	1,083
Prior service credit	(125)	(350)
Total net periodic benefit income	(1,869)	(1,396)
Other Postretirement Benefits Plan
Retirement and Other Benefit Plans
Service cost	0	0
Interest cost	10	10
Expected return on assets	0	0
Actuarial loss (gain)	(27)	(39)
Prior service credit	0	0
Total net periodic benefit income	$ (17)	$ (29)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan, maximum percentage of deferral of base salary	50.00%
Deferred compensation plan, maximum percentage of deferral of annual incentive compensation	100.00%
Long-lived assets, held and used	$ 571.5	$ 726.2
Restricted Stock Units (RSUs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	1 year

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020	Jan. 30, 2021
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Transfers into level 3	$ 0	$ 0
Transfers out of level 3	0	0
Fair Value, Recurring
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Cash equivalents - money market funds	57,000	146,009	$ 45,000
Non-qualified deferred compensation plan assets	8,169	7,435	7,918
Non-qualified deferred compensation plan liabilities	(8,169)	(7,435)	(7,918)
Deferred compensation plan liabilities for non-employee directors	(1,185)	(818)	(989)
Restricted stock units for non-employee directors	(2,571)	(1,093)	(1,661)
Mandatory purchase obligation - Blowfish Malibu	(45,523)	(18,433)	(39,134)
Fair Value, Recurring | Fair Value, Inputs, Level 1
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Cash equivalents - money market funds	57,000	146,009	45,000
Non-qualified deferred compensation plan assets	8,169	7,435	7,918
Non-qualified deferred compensation plan liabilities	(8,169)	(7,435)	(7,918)
Deferred compensation plan liabilities for non-employee directors	(1,185)	(818)	(989)
Restricted stock units for non-employee directors	(2,571)	(1,093)	(1,661)
Mandatory purchase obligation - Blowfish Malibu	0	0	0
Fair Value, Recurring | Fair Value, Inputs, Level 2
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Cash equivalents - money market funds	0	0	0
Non-qualified deferred compensation plan assets	0	0	0
Non-qualified deferred compensation plan liabilities	0	0	0
Deferred compensation plan liabilities for non-employee directors	0	0	0
Restricted stock units for non-employee directors	0	0	0
Mandatory purchase obligation - Blowfish Malibu	0	0	0
Fair Value, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Cash equivalents - money market funds	0	0	0
Non-qualified deferred compensation plan assets	0	0	0
Non-qualified deferred compensation plan liabilities	0	0	0
Deferred compensation plan liabilities for non-employee directors	0	0	0
Restricted stock units for non-employee directors	0	0	0
Mandatory purchase obligation - Blowfish Malibu	$ (45,523)	$ (18,433)	$ (39,134)

Fair Value Measurements - Impai

Fair Value Measurements - Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2021	May 02, 2020
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Total long-lived asset impairment charges	$ 1,888	$ 35,222
Famous Footwear | Selling and Administrative Expenses
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Total long-lived asset impairment charges	400	14,896
Brand Portfolio | Selling and Administrative Expenses
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis
Total long-lived asset impairment charges	$ 1,488	$ 20,326

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		May 01, 2021	Jan. 30, 2021	May 02, 2020
Reported Value Measurement
Fair Value of Financial Instruments
Borrowings under revolving credit agreement	[1]	$ 200,000	$ 250,000	$ 438,500
Long-term debt	[1]	200,000	200,000	200,000
Total debt	[1]	400,000	450,000	638,500
Estimate of Fair Value Measurement
Fair Value of Financial Instruments
Borrowings under revolving credit agreement		200,000	250,000	438,500
Long-term debt		200,500	201,000	178,000
Total debt		$ 400,500	$ 451,000	$ 616,500
[1]	Excludes unamortized debt issuance costs and debt discount

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	May 01, 2021	May 02, 2020
Income Taxes
Effective income tax rate reconciliation percent	35.50%	19.90%
Discrete tax benefits	$ 1.2
Deferred taxes	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - Redfield Site $ in Millions	3 Months Ended
	May 01, 2021USD ($)
Commitments and Contingencies
Cumulative environmental eemediation expense	$ 32
Environmental exit costs, assets previously disposed, liability for remediation	9.9
Reserve for anticipated future remediation activities for off site remediation	5.1
Reserve for anticipated future remediation activities for on site remediation	$ 4.8
Accrual for environmental loss contingencies, discount rate	4.80%
Accrual for environmental loss contingencies, gross, total	$ 13.6
Accrual for environmental loss contingencies, undiscounted, next twelve months	0.5
Accrual for environmental loss contingencies, undiscounted, second year	0.1
Accrual for environmental loss contingencies, undiscounted, third year	0.1
Accrual for environmental loss contingencies, undiscounted, fourth year	0.1
Accrual for environmental loss contingencies, undiscounted, fifth Year	0.1
Accrual for environmental loss contingencies, undiscounted, after fifth year	12.7
Other Noncurrent Liabilities
Commitments and Contingencies
Environmental exit costs, assets previously disposed, liability for remediation	8.9
Other Accrued Expenses
Commitments and Contingencies
Environmental exit costs, assets previously disposed, liability for remediation	$ 1