American footwear company Caleres has posted a consolidated net sales of $658.5 million in the second quarter (Q2) of fiscal 2025 (FY25) ended August 2, down 3.6 per cent year-over-year (YoY). The decline was driven by a 4.9 per cent fall in Famous Footwear sales and a 3.5 per cent drop in the Brand Portfolio segment. Comparable sales at Famous Footwear slid 3.4 per cent, although trends improved meaningfully in July.

The direct-to-consumer (DTC) channels accounted for approximately 75 per cent of total net sales, highlighting the company’s continued focus on consumer-centric growth. The gross profit came in at $285.8 million, translating to a gross margin of 43.4 per cent, down 210 basis points (bps) YoY, pressured by tariff-related costs, selective promotions, and higher inventory markdown provisions, Caleres said in a press release.

Caleres has reported net sales of $658.5 million in Q2 FY25, down 3.6 per cent YoY, with Famous Footwear and Brand Portfolio sales declining 4.9 and 3.5 per cent, respectively.
Gross margin fell 210 bps to 43.4 per cent, and net income dropped to $6.7 million.
The company achieved $15 million in annualised cost savings and completed the Stuart Weitzman acquisition.

Segment-wise, Famous Footwear posted a gross margin of 43.7 per cent, down 130 bps, while Brand Portfolio margins fell 240 bps to 40.3 per cent. Selling, general and administrative (SG&A) expenses rose to $269.7 million, or 41 per cent of sales, up 170 bps due to deleverage from lower revenue.

The net income of the company fell sharply to $6.7 million, with diluted earnings per share (EPS) at $0.2, and adjusted net earnings stood at $11.7 million, or $0.35 per diluted share, both benefitting from a discrete tax gain of $0.07 per share.

Quarter-end inventory was $693.3 million, up 4.9 per cent YoY, reflecting tariff-related stocking and preparations for the Stuart Weitzman acquisition. Borrowings under the revolving credit facility rose to $387.5 million, an increase of $241 million from the prior fiscal, partly to support this acquisition.

To strengthen liquidity, Caleres amended its credit agreement, extending the maturity of its asset-based revolving credit facility and increasing borrowing capacity. The company also achieved annualised cost savings of $15 million through structural efficiencies.

Shortly after the quarter’s close, Caleres completed its acquisition of Stuart Weitzman, enhancing its Brand Portfolio with a globally recognised luxury footwear label, added the release.

“While we did experience headwinds due to market uncertainty, we demonstrated the strength and resilience of our company this quarter. Sales trends improved sequentially in both segments of our business, and we saw market share gains in women’s fashion footwear and in shoe chains. We experienced strength in Lead Brands, our Brand Portfolio direct-to-consumer channels, and international. We also saw significant improvement in sales trends at Famous Footwear in July and continuing through August,” said Jay Schmidt, president and chief executive officer (CEO) at Caleres.

“As we look to address the changes in the operating environment, we completed our previously announced structural cost savings initiatives that will deliver annualized savings of $15 million and support a more efficient operating structure. Just after quarter-end, we completed the acquisition of Stuart Weitzman, adding a new Lead Brand to our portfolio that aligns with our strategic focus on premium, direct-to-consumer, and international business,” added Schmidt. “Longer term, we will continue looking for ways to leverage our greatest capabilities across our portfolio, and we are confident in our ability to execute our strategic plan, invest to fuel our growth initiatives, and drive sustained value for our shareholders.”

The company continues to withhold annual guidance due to macroeconomic uncertainty. For August, Famous Footwear same-store sales rose 1 per cent, while Brand Portfolio sales excluding Stuart Weitzman increased in the low-single digits. Management anticipates persistent tariff-driven pressure on Brand Portfolio gross margins in the third quarter, similar to Q2, with improvement expected in Q4 as mitigation measures take effect.

Fibre2Fashion News Desk (SG)

The British Fashion Council (BFC) has announced the nominees for The Fashion Awards (TFA) 2025, taking place on December 1 at The Royal Albert Hall, London. TFA, organised by the BFC, is a vital fundraiser for the BFC Foundation and spotlights the cultural power of fashion. 

Award categories announced include Designer of the Year, British Womenswear Designer, British Menswear Designer and the Vanguard Award. This year, the BFC invited a jury of 19 distinguished critics, editors and buyers to finalise the shortlist of nominees, ensuring that all nominees meet the highest standards of quality, creativity and diversity. These will now be presented to a voting committee of leading industry members to review the shortlist and cast votes confidentially to balance perspectives and guarantee impartiality, the BFC said in a press release.

The BFC has announced the nominees for The Fashion Awards 2025, taking place on December 1 at the Royal Albert Hall.
Key categories include Designer of the Year, British Womenswear and Menswear Designer, and the Vanguard Award.
The shortlist, selected by a jury of industry experts, highlights innovation, creativity, and diversity, and will now be voted on by leading fashion professionals.

Designer of the Year recognises a British or international designer whose innovative collections have made a notable impact on the industry, defining the shape of global fashion. The 2025 nominees include Glenn Martens for his work at Diesel and Maison Margiela, Jonathan Anderson for Dior and JW Anderson, and Martine Rose for her eponymous label. Also nominated are Miuccia Prada for Miu Miu, Rick Owens for his continued influence through his namesake brand, and Willy Chavarria for his powerful and boundary-pushing work at Willy Chavarria.

British Womenswear Designer of the Year celebrates a leading British womenswear designer who has made a global impact through innovation and creativity, shaping the international womenswear landscape. This year’s nominees are Charlotte Knowles and Alexandre Arsenault for KNWLS, Emma Chopova and Laura Lowena-Irons for Chopova Lowena, and Erdem Moralioglu for ERDEM. Also recognised are Sarah Burton for her creative direction at Givenchy and Simone Rocha for her continued excellence with her eponymous brand.

British Menswear Designer of the Year honours a British menswear designer whose vision and creativity have shaped the international menswear scene. Nominees for 2025 include Craig Green for Craig Green, Foday Dumbuya for Labrum London, and Grace Wales Bonner for Wales Bonner. Also shortlisted are Kiko Kostadinov for his innovative namesake label, Nicholas Daley for his culturally rich menswear collections, and Stefan Cooke and Jake Burt for their collaborative work at Stefan Cooke.

The Vanguard Award recognises a designer at the forefront of a new wave in British fashion — a visionary creative demonstrating cultural leadership and global influence, helping to shape the future of the industry. This year’s nominees are Aaron Esh for Aaron Esh, Dilara Findikoglu for her bold and subversive label, and Feben for her namesake brand that blends identity and craftsmanship. Also nominated are Steve O Smith for his contemporary and emotionally resonant work, Tolu Coker for her powerful storytelling through design, and Torishéju Dumi for Torisheju, a brand gaining attention for its conceptual and culturally charged collections.

 

Fibre2Fashion News Desk (RR)

Hammerson on Tuesday announced the appointment of Rob Wilkinson as its incoming CEO. He’s set to join the board on 15 December as CEO designate and will take up his permanent role with effect from 1 January 2026.

He’ll succeed Rita-Rose Gagné who said in June that she intended to retire from Hammerson in 2026, following five years in the role that have seen a major turnaround of the portfolio and restructuring at the firm.  

Gagné will continue to lead the business during the rest of 2025 and ensure an orderly transfer of her responsibilities, before stepping down as CEO and from the board on 31 December.

Wilkinson will have a gross annual salary of £620,000 plus pension allowance and other awards to compensate him for bonuses forfeited on leaving his previous employer.

The new CEO has a long history in the property sector. He joins Hammerson from real estate investment management specialist AEW Europe where he was chief executive for over 11 years. He joined AEW in 2009, initially serving as chief investment officer in Europe until 2014 when he was appointed CEO. 

He was a non-executive director at residential landlord Grainger from 2015 to 2023 and has been a non-exec of commercial landlord Derwent London since 2024. 

It all adds up to 30 years of experience in real estate investment markets with his previous work at Goodman Group, Eurohypo and UBS taken into account. A qualified chartered accountant, he holds a degree in law from the University of Cambridge.

Hammerson chair Robert Noel hailed him as “an established and proven real estate leader who brings a wealth of experience and a track record of delivering shareholder value. Through a rigorous recruitment process, Rob stood out from a strong field of candidates as someone who was able to translate strategic insight into shareholder value creation through exceptional leadership”.