Earnings call transcript Q4 2022

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Operator

Good morning, and welcome to the Caleres Fourth Quarter Earnings Conference Call. My name is Robert and I'll be your conference coordinator. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

turn Investor over Relations. I'll Vice Logan time, of President this the to call Bonacorsi, At Please ahead. go

Logan Bonacorsi

Actual various Good risks morning. call due which forward-looking information limited discussion press I'd with as available today’s our to press Commission. materially fourth at risk like on subject with impact statements, and company’s well including to to Exchange and the risk thank other to more and Copies release number results statements. forward-looking filings to factors be Form release slide a year which reports factors you as and but full caleres.com. our may are and factors of XXXX the other could the and these presentation financial Please refer differ contains not US earnings our Securities disclosed detailed factors, and uncertainties. quarterly A online. quarter are SEC webcast. of tables, for in Please are for joining today’s XX-K aware available filings

and results the providing will be financial to certain operation, non-GAAP we discussing of measures. our In referring

on today’s You release as well time. update any in financial this at can and on regarding call measures, The additional other of any views our no find non-GAAP as our section obligation to information these the presentation website. undertakes Investors earnings company information discussed

Jack Calandra, and on today President President Joining CEO; are Vice call the and Schmidt, me Jay CFO. and

and we’ll your questions. We will call take to begin be happy prepared morning’s our thereafter, this with remarks,

over Jay? to call to now like would I Jay. turn the

Jay Schmidt

at In XXXX year quarter million. operating In year-over-year XXXX, delivered earnings total, sales strong delivered year X.X% increase best pleased I'm during capping accomplishments $XXX in Thank Caleres off we of achieved Caleres. and results that the morning our you, of and expectations Logan, everyone. good operational financial a adjusted short, report and and a was significant of exceeded fourth to ever.

more $X.XX was EBITDA. record watermark we share XXXX. pre of more in earnings fiscal even adjusted better doubled adjusted $X.XX Perhaps generated million set level high pandemic than Our in per than EPS our the $XXX this approximately and notable,

In Caleres the row the year market customer the than outpacing total gaining footwear of market more with second lead X% U.S. metrics increasing year-over-year. we XX% for brand brands new with improved market, in in our addition, during share growth share. our XXXX, grew to brand portfolio file perception a We

ultimately we edit We key focus ending We fiscal drive managed reduced approximately where XXXX. and our the X% items well count to intensified win, and SKU our sales. including to priorities strategic inventory below trends amplified levels year on product

These annual $XX to than million namely of and continue prioritize investment to more and our strength execution essential We and repurchases shareholders goals experience for significant and dividends. the progress underscore ESG that results through we future platform our the marketing returned our exceptional toward of consumer power of share our strategic We growth. term long initiatives. areas the are made our successful brands,

highlights let's fourth quarter. Now from some to the performance move

XXXX. of earnings quarter And Famous. landscape strong sales X.X% achieved which quarterly share. $XXX fourth During higher fourth we record the period, million, quarter solid than competitive earnings at We despite we levels the of challenging more achieved operating per was a margin generated and

uncertain rates our debt term free is allocation rising due believe $XX capital our In continued talk and more flow million. the that to asset by reduction revolving will cash to cash our for XXXX, Jack utilizing environment. addition, facility macro top reduce prioritized priority reduction for under near the credit we but flow based debt priorities an borrowings interest we about

the shoes, the drove prioritize and especially well X.X% our and all into sales casual fourth financial translated quarter year-over-year for demand footwear, segment metrics this strong for in portfolio, brand improvements consumer key dress the outstanding higher across of as as Of XXXX performance our boots. lead In as fashion were than brands quarterly note, segment.

Edmonds In sales positive grew fact, Edelman, for increased trends share market the year, and earnings. our Allen Naturalizer which include lead delivered brands, Sam and

elevate delivered the set by in also progress XXXX. annual reflects Again, for earnings worth its full operating we've It's year, climbed a that this fashion products record the made consumer highlighting initiatives growth brand our previous of XX% over eclipsing sharpen million, $XXX and against to messaging reaction $XX inventory strategic record investment. portfolio and brand the maximize performance to strong Segment was earnings. product driven design, key in overall million our the to

yet is this now brand momentum the significant and contribution increase further on there runway the is believe portfolio. we higher, bar The to build of

business we the XXXX. DXC e-commerce direct in XX% period our in the business and number We strong e-commerce analytics the over same in XX% enhanced growth In our of with we to nearly with by owned outsized also brand increases increase our capitalized the advanced digit our line portfolio, consumer businesses an approximately on of portfolio expanded consumers grew trends, brand same websites. of to and quarter owned the XX% new our drive owned Further, fourth compared consumer one double Similarly, saw drop capabilities time from product sales period. over ship to every objectives. to

area. we unlock file continue as Going our in build even forward, we more this can expertise value customer we believe to from

Now exceeded mid-December. impressive to a off sharply Fourth robust slow and stronger to in got competitive the in team Famous quarter. late the the we for quarter of positive sales beginning down expectations also due period, sales in was performance stock on demand performance driven at last athletic quarter the of position sales record six an brands, last start by a comp. where year. landscape before in was fourth capitalize high digits which despite moving to key Sales our to in resulting This a to rebounding quarter the in challenging compared able on Footwear single weeks famous the November turned

weeks XXXX we the a opportunity one growth XX% and quarter the and by business, sales our view differentiator last increased key over future a X% another as in addition, of by delivered performance. Kids outsized fourth In kids of was to and the kids performance period strong of for solidifies the we results family. back position the footwear achieved further the destination millennial school This at and six a during Famous' year. the continuation

During product. the normalized especially declines quarter, seasonal more Famous experience gross due margin in to did inventory levels,

our due the famous high All Going pandemic forward, margins level we performed strategies. made And to during an operating in, gross again the best promotional pre in at words, while achieved do expect changes XXXX. above operating to maintain setting structural to results record we've $XXX levels earnings segment In this second other XX.X% in margin. Famous number and XXXX, history. quite performance contributed the reach million didn't a of

still leadership uncertain the assortment macro its are is and believe continue enhanced to key position brands, navigating exceptionally experience, across And store and in family, while understand we due in Famous consumer environment, well leading positioned markets of to with both to locations excel that its an we retail country its compete online. consumers its national and the

enable Before key I to through hand highlight walk XXXX detail, and it would that over beyond. areas more in to Jack the I to win us will in our focus to like financials

the on millennial sharpen family at we will our First, Famous Footwear. focus

digital and assortment, store align approach product millennial experience, footwear needs. the with objective marketing families Our is presence our to

This additional manner. Famous now the format. As format opened in early a XXXX national in proven stores brands a and direct store XX prototype localized we've discussed, we family an with highlighting a convenient the in rolled successful out has same new assortment and our using new facilitating top creating highly engagement

have stores and these average, significantly market in on far areas both sales So outpaced their traffic.

footwear to famous Second, enhance a assortment fashion we will athletic to and more balanced our continue mix.

quarter, family that she spending and last are the more, for we for her more returning meaningful often. outlined fashion progress of on herself, As she side We business. connecting buys and seeing know more when the is

market, sales in right In brands the incremental continue own profitable deliver We top in well knowledge a we our and Famous. improvement our the our X% the growth brands and highly sales take to to styles deliver in brands. quantities as as locations to at believe fact, extensive right consumer we Caleres fashion can see in from

intend the to our and our relevance brand brands portfolio. strength we Third, of in capitalize on lead

from and years. the expand success, are as Edmonds operational entire At see expertise have well robust and of continued strength demand building as our Vionic, to that We the Edelman, to we leveraging outsized the brands recent Alan in Sam time, and same Naturalizer and profitability performance brand portfolio.

innovation, Fourth, our logistics around operating to that includes and we growth are capabilities span win, as design of to Caleres' digital, and knowledge platform edit the focused sourcing maximizing margin. as to increase marketing, well This on and shared enterprise. opportunities entire centers analytics, unlock leveraging

committed are we sales forward. to delivering going and Finally, earnings exceptional

more recent and agile, structural the changes stated transformed we've As organization. we Caleres a we've years in have previously, into profitable made believe efficient

levels in at per our confident consistent these as long are to City. XX for and free annual in our Wednesday, share on to term We more forward generate create New ability $X providing deliver Day strategic our each look earnings strong priorities detail cash value of of York of a Investor flow We in June shareholders. basis on excess on we

of that, with Jack? Jack And detailed our to over will I for financials. now a more hand view it

Jack Calandra

everyone. plans morning, outlook quarter discuss fiscal and our XXXX. and and our fourth allocation I'll our progress Jay, annual strong share details Thanks, record and Today additional provide capital results, good for on

with will a the adjusted Please comments comparisons helpful. supplemental for release adjusted comparable results. of my reconciliation to where press see focus some and in reminder, a As an will period XXXX on be basis on XXXX today's

were for quarter quarter. year. increase Fourth fourth the with Starting quarter an record and a the versus million, fourth of last X.X% $XXX sales

by portfolio. this second the expectations a year up slightly to and X.X%. X.X% than were driven Comparable due initial our last a mentioned, performance Footwear Jay brand increase up the of sales half As quarter. better strong was were in sales Famous

gross including margin in in a year portfolio basis reflecting best last as decline full billion, point sales XXX ocean X.X% well margin toward gross portfolio XX.X%, in marking XX%, and sales e-commerce, increased nearly margin. gross basis sales decrease point due costs. and air $X.XX our a freight drop reach and ship businesses, gross brand an versus higher quarter was a favorable mix Brand owned increase to ever was performance. margin a increase Famous reduction to as Consolidated Fourth annual year a XXX margin

level This quarter a of normalized gross reflects basis XX.X% a decline year. point promotional was and fourth versus more activity Famous pricing. decline XXX last expected margin

the ongoing to the prioritize to mid-XXs continue our margin gross optimization Famous. goal gross for margin annual of of We achieving in low with

basis consolidated in was full the points gross point increase a basis brand in Famous. For XX decline and a XXX below portfolio year, XX.X%, reflecting year last margin basis the XXX point

as was leverage XX.X% XX%, points was the percent sales by quarter year lowest SG&A expense in to the $XXX nearly the growth XXXX XXXX. This of wages see rent. X.X%. favorable to $XX SG&A of expense Operating XX million Fourth and a operating was was sales. brand quarter X.X% X% Full top or expense since at enabled for inflationary line were basis pressures do fourth we X.X% million was margin and Famous at as margin and and earnings continue portfolio. operating

$XXX a Famous from higher credit X.X% or was that Full year year. full delivering this or average of was year margin, interest facility portfolio average full XXXX. worth were XXX last It's year versus digit XX.X% expense X.X%. given Brand margin, for an rate. point points million QX higher in operating operating sales a double borrowings year. basis achieved improvement net operating noting revolving last million rate is $X point the about quarter interest XXXX. margin and basis than above decline maintained year its XXX operating earnings XX Fourth The basis X.X% weighted on million $X borrowing higher our consolidated a

$XX net was year full record average for and was full diluted another Caleres. for interest per earnings were were XX trailing sales. $XXX was share rate million per X.X% quarter and months million Fourth or the the year X.X% of Full share expense EBITDA interest $X.XX earnings $X.XX, diluted year weighted

quarter term now the X.X% on a last quarter and credit hand to down debt. On and reduction flow. in fourth goods Inventory down no our We during million borrowings year transit $XXX XXXX. facility, Turning to balance at with inventory sell compared revolving million fourth long $XXX in year cash and $XX sheet X.X% end ended was year. end the and the versus to down was were million materially. was available up Inventory

businesses composition end and feel At availability. year. as X% last By up XX% of X.X% inventory constraints, $XX a XXXX. segment, in year's we was or down versus reflection inventory the and limited at inventory chain portfolio, inventory year, versus lower year versus level brand was supply Famous up inventory than was begin last both about which Famous' year of primarily million last XXXX. good Notably, X.X% We the

deployed $XX paid Regarding quarter cash as reduced revolver. strategic previously and million we cash and quarterly borrowings during from mentioned, flow business, for our the on dividend, investments operations, the our in generated the

implement allocation, and to continue capital will create strategies we Turning that believe to enhance value. we shareholder

driving million million. X.X investing $XX opportunities, growth in a shareholders we fiscal dividend, outstanding $XX shares X% or Including of year. shares we In approximately addition in returned the value the million during of to to purchased cost in XXXX, total cash for

share consider believe remaining based overall our said, EBITDA current at and the borrowings under authorization a board market liquidity. X best this to reduce time, increase to our on basis will debt use million X.X conditions. have to dividend We shares to repurchase and flow That continue repurchases continue revolver cash we to maintaining is free the to times of below after on

turning our Now outlook. to

a financial uncertain the to in an structural of believe current even over we several environment. maintain mentioned, business operating interest to earnings pressures, $X inflationary of rates changes and we've of the As years and the the allow face we've per higher past made share in that excess number macro us

we about per up to to estimate the such $XX share the when sales $X.XX. year, compared X% provides we flat of As includes of be week XXXX, million This to this fiscal expect to earnings which for and XXrd sales impact $X.XX diluted of XXXX. of

XXXX. several we metrics Additionally, on key providing guidance for are other fiscal

in to portfolio Famous. a said, margin X.X% consolidated above XX%. expect brand Specifically, and of reflecting still we decline operating operating in That Famous improvement margin X.X%,

to We $XX higher rates. million due expect $XX expense million interest interest of to

expenditures more and of million, We spending expect a in $XX inclusive our strategic capital $XX to prepandemic million level investments. with line of our

based an share count effective assumes we share of expect This We XX%. approximately dilution of offset rate stock finally, to of XX.X tax compensation. million. expect about repurchases And any

segment the are build million are QX the in $XX year, for extraordinary guidance inventory Portfolio Given this retailer lapping, we in providing QX. we following the Brand also

$X.XX net expect of X% X% be share We to and sales to $X.XX. to down earnings per

before With to that turn we back and the take I questions, will call Jay.

Jay Schmidt

doubled was where more great Thanks for we Caleres Jack. pre earnings year level. a pandemic our This than

drive with and the our our our and our term long confident are deliver We team set value our strategic have have our June Investor structural Day to and sharing We and up we talented on objectives that at us for look unique shareholders. changes to brands coupled implemented, on about infrastructure strategy XXXX forward more XX.

turn I'd questions. And operator with for that, like the to the call over to Operator?

Operator

conducting Our Thank a with question. Abbie proceed be you. time, comes Sandler. Piper question Instructions] this At your with question-and-answer session. first we'll Please from [Operator Zvejnieks

Abbie Zvejnieks

end Great. taking Thanks on so to and the question for the strong congratulations my much year.

Famous follow-up outperformance in those So first you the same you at that Footwear last weeks. then mentioned six quarter? outperformance have into continue one that. And Have I seen after

Jay Schmidt

Famous, we six we is quarter, I kind casuals up joggers would that softer selling at get we're up weeks retro in still starting sneakers We're continue the as that expect brand and last our And saw in new of the always the see some sandals seeing in open little trends we'll were going. the of aware of into see first key out as -- there. and that we and currently what we and things a although portfolio other they selling spring the Famous, styles think lot opened quarter. very consumers than now we say, fashion are we on a and did later

Jack Calandra

This question. thanks Abbie, for is And Yes. Jack.

around first Easter us ahead of you the as obviously, with, major that, of and to of the in some that. add to is the the quarter quarter, know, just events still part So

things saw because mentioned, where the Jay we ahead season bit the six six weeks as feel slowed the selling is fourth quarter, have last really but a for us, still of next the from really weeks about So that prime of Famous. good

Abbie Zvejnieks

order of about through from channel? as sell Got we be selling forward to said lap that switching but will should that? model we books think tougher last how wholesale look that I the year, cadence XQ does know we how And And it. then brand XXXX? going should portfolio, the how just you into the maybe

Jay Schmidt

in fill XXXX modeling books where as that. of in in we've order been actually, quarters rate, when been Our terms the to consistent we've past look

So we we feel budgeted. good about where

the take QX, at you in quarter. If looking out X% other we're really

really look Abbie. that's very So -- then feel that moment we the lap signs we'll the like to but all of be and back that portfolio, in brand good, it

Abbie Zvejnieks

so Thanks much. it. Got

Operator

Kummetz Mitch is Research. Seaport proceed Please question with next from Our your with question.

Mitch Kummetz

you. my few. questions. a thanks I've Thank And got for taking

will in margin, help normal XX pricing the year. gross that year? Footwear be you mentioned pre-COVID XX% But Let if on it be quarter. greater above what know a the and actually gross three me I it And for And that on I you Famous start bps for me know margin why Famous, op you that the down you margin confidence forward? guys with than should promotions comment mentioned understand can year? going was gives the for don't

Jack Calandra

question. for thanks the Jack. Mitch, Yes, This is

I bit of cadence, BOGO, we response the weeks Famous, to put got but as bit six-ish promotional in in of place for first the So decline. soft. Famous We (ph) that [BOGO] nice terms say, a in amped the quarter mentioned, a were we the a in quarter was margin of the fourth a would little did mid-December,

cost We the saw goods. also in of some increases

LIFO so, also And margin reserve calculations affected was the gross some that there QX. for

expect subside, on level, of goods to expect getting with and see going I to we pressures of to those inventories -- that starting forward. normalized think wouldn't more would cost we some I a say, inflationary

Mitch Kummetz

give what your slower that than us of by is Okay, You quarter small started sales end thinking that's mentioned And can for the helpful. outlook might February for but that versus the us maybe the a the SG&A of quarter? of Thank more margin any QX, kind be but little the then helpful QX, outlook you. by segment? sales then give a you month, you're it margins, is on also color gross segment? how kind And

Jay Schmidt

Yes, Mitch.

anniversarying what obviously, of segment quarterly sales, terms that, portfolio in we're on the side. talked So about brand we the

certainly have lower at would So again, sales some some to at that look I I brand be they're to the full move comparison businesses of in year they're of if quarter, expect we portfolio versus guidance, probably from as modest XXXX benefiting anniversarying flat range first improvement what say, what that forward. you both or those with Famous. in sort of remember are but either the -- two, will that the to

obviously, a is portfolio. build of week, anniversarying portfolio much And QX then, has for big So beneficiary XXrd so the the brand year. inventory obviously, Famous the on last in the that headwind less brand retailer from

In terms nice we're brand portfolio where of on gross in on a freight. lift gross margin seeing the is margin, ocean

ocean lower that's So to of be the we're seeing beneficiary is business -- the that so through, coming freight on Famous the that obviously, big less side. going

Mitch Kummetz

last from And you the on athletic XXXX? And impacts some inventory you athletic constraints ago? better of Okay. inventory then lap how better the in on maybe solid a throughout the Can year how in question, availability. those remind was inventory flow QX kind Famous of of some constrained sales you us mentioned side XXXX that maybe businesses

Jay Schmidt

Yes.

say, Mitch QX. I through athletic think would were all the first I half the even of way into and XXXX we inventory, chasing

in we et would and retro these within some I shoes, of then come are categories style this styles, key to of through fashion see some court out like there, these really, that kind say, athletic of cetera. particularly that As more came we started of

key some we brands into back of got As the that items. well other the were really as key trending,

quarter to really being six of So I very us a those weeks think last that very, strong. fourth led

into chase we was a in we there. good it go but And really -- all feel of we're like position. So QX, as

Mitch Kummetz

Okay. Thanks Good luck. guys.

Jay Schmidt

you. Thank

Jack Calandra

you. Thank

Operator

Please Our your next Capital. question Champine from Laura proceed comes question. Loop with with

Laura Champine

to for now. XX that Famous take my you for format And would broadly? XXXX? roll said question. Thanks taking it I more for to the What at out plan It's about you're for stores. What's you think decide new the Footwear

Jay Schmidt

total open them as have We'll Laura, motion, we stores but currently for -- Yes. of now. did weeks we a continue said, opened opened, now six only it's we have -- few XX a been

at we're we we would plans our see exciting fairly So that quite what total walking still half back we if get some be additional trend to we very there. see through see the half. us work I But that, XX continue probably But items. I this adding, the said, We we're of say, really together. on another as continue we'll new it's year. pleased us. frankly, of us back with stores to and conservatively will But look putting those through as for And to very

Laura Champine

that the And on just format? a remodel as cost to a follow-up, what's

Jack Calandra

Yes.

sales, on done, going accelerate So given the is small But not are we that investment engineering the bring value to that $XXX,XXX to say continue say, the relatively level. cost. engineered we would would is is that be as that depending about $XXX,XXX nice looking to our a cost and to do but some we're I down certainly would grow seeing cost higher at is on numbers certainly Famous' far things so confidence that really return store. this what getting value I we that sourcing around we've would

that even higher. engineer if just streamline returns value And boost would continue can so the to obviously, those we and costs

Laura Champine

Got it. you. Thank

Jay Schmidt

Thank you.

Operator

with question. from Telsey Group. Our Telsey Dana comes with next question Please your proceed

Dana Telsey

everyone. morning, Good

what's and Footwear going cadence terms And promotions the sense performance a of region? the in Footwear health Footwear promotions, consumer to difference I of see how the that of the at the active do planning these promotional Just in going brands there it some your Famous see how as customer, were Famous business? it? the touch involved you strategy of brands Is Famous know how's wanted you forward and and by forward? you're the you on promotional editing

about should out you. as just we through Thank Jack, XXXX? we I mean, And in the be then Jay balance of terms -- move that sheet anything thinking

Jay Schmidt

markdowns year. did back we So into more as I this whole half think at we of forward, promotion the going as see and cadence, clearance moved some normalized we our look

become see a feel do the through So of year kind of next half in we to half And basis. in back to that then -- first of year similar what normalized XXXX. believe frankly, this experienced somewhat quite that more we we'll should

to styles continue I XX% in promotions brands, that have of but about We of terms to promotional asking we it. Footwear, business. in Famous help this of more are will, think, us normalize We from which monitor that our in do what's have the excluded kind piece

to where keep going in But time apprised sheet? all we're our to do is we'll is that for So watch this about Jack, strategy you really real balance honestly want that. and everyone the talk moment. And then to

Jack Calandra

Dana. Sure,

say, for key So balance I would terms couple sheet. of in of a components the

show inventory, So improvement the on make on inventories XXXX. we end expect continued expect our would will I to that versus of progress XXXX at inventory. continued

We component operating important to across cash an unlocking are accelerate in business. the looking know We flow. turns that's

would I so, And see expect that. to

for on our debt QX the for was I again, year right up. as what now, full rates we And just rate side, that. and then and borrowing interest share mentioned, can to given tick mentioned that just continue

of now are borrowings about recent X.X%. most Our sort

obviously, rates of not future I'm rate we're those basically year. expecting the we And for are terms in while the the interest So, consensus an adopting economist, increases continue that to increase.

in flow after cash And are so down and the debt. after use the investing the in near term dividends to business continuing free pay we the to

down. continue to that expect work to we so, And

that have share from do still we Again, repurchases. our board on authorization

resiliency times opportunistic But inventories our to focus makes model got very well. down in buy shares, close we'll expense I that and as to do just would And turns so manage the as debt just given certainly level, sense we'll our increased are when market of tightly think and to it on that as a well just there making we continuing stay interest back say sure to bring given flexibility our we've if continuing is uncertainty. dynamics. to improving lot now, for and continue the economic And the

Dana Telsey

then mentioned, compared Got for on, be categories? this you. to Jay. of And plans last that year whether brands, the you pricing you're thinking How Easter Anything Thank just it. focused had on we it's year? should that

Jay Schmidt

Yes.

coming I of remains certainly think excited of strength We our lead I about half are as pricing kind brands would very our of consistent really our portfolio. the our say back of XXXX. out

through and to and all strength continue of then that Naturalizer products gaining stores to expect them there spring their consumer up. also excitement new be then trend the very Vionic, Edmonds excited with around we'll going with Allen seasonal in We we really delivering get Famous Sam XXXX. and the and as Edelman, as the opens really

So I real really say as pricing would it very changes no see excited, we but now. retail right on

Dana Telsey

Thank you.

Jack Calandra

Dana. Thanks,

Operator

from Our next Please question is question. with with Seaport your proceed Kummetz Research. Mitch

Mitch Kummetz

thank ups. follow land it, have did few quick Jack, flow you. or where free may I've operations got cash expect Yes, year? either for missed a I cash but say you you from the flow to

Jack Calandra

planned continued in would not on that we're flow, guiding the Yes, in Mitch, improvement -- XXXX. to the given the operating inventories, see step operating our I metric, cash cash I specific to but given a expect in be up helpful, what to would say flow is,

I returning that's consider investing We I little really more levels. are CapEx as CapEx mentioned, what a on bit to prepandemic

we and years or past XX we in less X% look XX If CapEx at of under XXXX, the CapEx, versus than spent less history were depreciation. our over you in couple spending

back bringing to a more depreciation. levels, percentage relative of And a that normalized sales so, both we're to as and our

bit perspective with investment. little a a free CapEx more headwind a So from increased of that cash

Mitch Kummetz

the sales XXrd you from mentioned earnings week. Got impact? there it. impact an then the And Is

Jack Calandra

Yes.

Famous, a we the of that on but small So estimate of it's impact, about $X.XX $XX It's $X.XX. EPS. is for but $XX million sales relatively earnings million of only company, about

Mitch Kummetz

factored your I your capital like how thinking you're interest Yes. then you the am environment, on much do of rising of And consider about and to take allocation, buyback? down. kind those do your How count share sort rate lastly, obviously, earnings? that potential is opportunistic Does to we're get curious in interest of much consider which when into expense the but around more versus accretive thoughts a kind opportunity you

Jack Calandra

certainly is important the I factor. making factors and sure we've would just other factor liquidity. it's say, the of that Yes, one though an got

others to having then in the that trouble environment. have and industry more cash are sort buying there As you into and bumps macroeconomic across back liquidity by any shares probably the gotten some in not know, of industries and weather

really opportunities bar brand we those own the and the just we said, versus And That to prudent think want we and Jay done team have investments been so, has believe good be our to in And want front, on M&A a obviously, raised there. stock investment. work the evaluate continue is the to investing always that on our about company. the we given portfolio as

Mitch Kummetz

again. Okay. Thanks

Jack Calandra

Thank you.

Jay Schmidt

Mitch. you Thank

end I reached have Schmidt comments. for Jay would to the question-and-answer now the call closing the like of to We session. back turn

Jay Schmidt

interest Thanks in Okay. forward Thank your quarter for We look call you Caleres. May. at speaking you. again our to first in to again

Operator

This today's conference. concludes

lines disconnect time. may at You we And this participation. your you for thank your

Caleres (CAL) 14 Mar 232022 Q4 Earnings call transcript