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US’ Caleres reports stronger Q3 as Brand Portfolio drives growth

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US’ Caleres reports stronger Q3 as Brand Portfolio drives growth



American footwear company Caleres has reported a stronger third quarter (Q3) for fiscal 2025 (FY25), with consolidated revenue rising 6.6 per cent year-over-year (YoY) to $790.1 million, and Brand Portfolio sales up 18.8 per cent, including a $45.8 million contribution from Stuart Weitzman. Excluding the acquisition, organic Brand Portfolio revenue increased 4.6 per cent.

Lead Brands delivered double-digit growth and helped the company gain 0.5 per cent market share in women’s fashion footwear. E-commerce performance remained a bright spot, with owned digital sales across Famous Footwear and Brand Portfolio rising at a double-digit pace. Famous Footwear, however, saw softer performance, with sales falling 2.2 per cent and comparable sales down 1.2 per cent.

Caleres has recorded a solid Q3 FY25 with revenue up 6.6 per cent to $790.1 million, driven by 18.8 per cent Brand Portfolio growth and strong e-commerce momentum.
Famous Footwear softened, while margins and earnings fell due to tariffs and acquisition dilution.
CEO said results exceeded expectations and integration of Stuart Weitzman will support long-term growth despite near-term pressure.

Despite top-line growth, profitability was pressured by tariffs, acquisition-related dilution, and inventory actions. GAAP earnings per diluted share fell sharply to $0.07 from $1.19 a year earlier. Adjusted earnings per diluted share were $0.38, compared with $1.23 in the prior-year quarter. Excluding Stuart Weitzman, adjusted diluted earnings per share stood at $0.67, Caleres said in a press release.

The gross margin declined 230 basis points to 41.8 per cent, while adjusted gross margin slipped 140 basis points to 42.7 per cent. Selling and administrative expenses rose to $311.3 million, driven by $32.2 million in Stuart Weitzman-related costs and higher incentive-related comparisons. Quarter-end inventory increased to $678.2 million, though excluding the acquisition effect, inventory rose just 2.6 per cent.

Caleres ended the quarter with $355 million in borrowings under its revolving credit facility and liquidity of $312 million.

“Caleres delivered third quarter sales results that were ahead of our internal expectations, highlighted by organic sales growth in our Brand Portfolio segment, strong Lead Brands performance, sequential improvement in trends at Famous Footwear, and accelerated e-commerce momentum in both segments of our business,” said Jay Schmidt, president and CEO at Caleres.

“With the recent addition of Stuart Weitzman, our Brand Portfolio now drives nearly half our sales and more than half our operating earnings. As we expected, we experienced pressure on our earnings from tariffs and near-term acquisition dilution, however, the fundamentals of our business are improving,” added Schmidt.

Looking ahead, Caleres expects continued margin pressure from tariffs and earnings dilution from Stuart Weitzman. The company anticipates a fourth-quarter loss on both a GAAP and adjusted basis and now guides to a full-year GAAP loss per diluted share of between $0.13 and $0.18. Adjusted earnings per diluted share are expected to be in the range of $0.55 to $0.60, including $0.60 to $0.65 of dilution from Stuart Weitzman. Excluding the acquisition, full year adjusted earnings per diluted share would range between $1.15 and $1.25.

“For the balance of the year, we will be working to transition the Stuart Weitzman business to Caleres systems and clean up aged and excess inventory as we hone our strategies for long-term growth and profitability of the brand. In fiscal 2026, we will begin to unlock synergistic cost savings,” said Schmidt.

Fibre2Fashion News Desk (SG)



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Heimstone to close doors after nineteen years

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Heimstone to close doors after nineteen years


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December 15, 2025

After nearly two decades of collections, womenswear brand Heimstone will close its doors, founder and artistic director Alix Petit announced on December 15. The decision comes amid diminished purchasing power and an increasingly tough market. The closure is planned in two stages: its physical boutique, located at 23 Rue du Cherche-Midi in the 6th arrondissement of Paris, will close on December 20, and its e-commerce platform will cease operating on December 30.

Heimstone is currently selling its final collection – Heimstone

“For nineteen years, I have poured immense energy, total dedication and passion into Heimstone, which has shaped me as much as I have shaped Heimstone. But a life is never made up of a single chapter, and I now feel naturally guided towards the end of a cycle,” said Petit in a press release.

An “exhausting” French system

“I am turning the page with clarity, pride and serenity,” she continued. “I feel neither nostalgia nor regret, only the profound certainty that it is time to close one door to open another. Above all, thank you. You have been committed, loyal and dynamic year after year. This community of women is without a doubt the greatest achievement of this adventure.”

The Heimstone adventure draws to a close after nineteen years
The Heimstone adventure draws to a close after nineteen years – Heimstone

The designer also spoke candidly in a video posted on social media, thanking her community as well as her long-standing partners, while criticising a French system that “wears down” industry players, far removed from its “official line.”

A brand with international reach

Heimstone made a name for itself with collections featuring flowing cuts and colourful prints, as well as numerous pop-up stores. The label made appearances in Marseille, Lyon, Lille and Bordeaux, as well as in Brussels and London. With Heimstone, Petit placed a strong emphasis on in-store concepts, regularly innovating. Collaborations included Damart, Catimini, Spartoo, Bocage, Bugaboo and Olivia Dar.

The brand enjoyed international recognition and sales
The brand enjoyed international recognition and sales – Heimstone

For sales, Heimstone relies on eight stockists, including Featsy by Piccadilly Circus in Annecy, By Mahe in Megève and Frimousse le Drugstore in Rennes. A graduate of Atelier Chardon Savard, Petit made Heimstone an internationally sought-after brand at the height of its recognition, with sales in the United States, the United Arab Emirates and across Asia.

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Louvre Museum closed as workers strike

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Louvre Museum closed as workers strike


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December 15, 2025

The Louvre Museum closed its doors to thousands of disappointed visitors on Monday as staff launched a strike to protest working conditions at the Paris landmark, two months after a shocking robbery.

The glass entrance to the Louvre in Paris, France – DR

Workers are demanding extra staff and measures to tackle overcrowding, adding to the woes of the world’s most visited museum just as France is gearing up for the Christmas holidays.

The strike comes nearly two months after the museum was victim of an embarrassing daylight heist that saw crown jewels worth $102 million stolen.

“We are closed,” a security agent told visitors on Monday morning, according to an AFP journalist. “Come back in a few hours.”

Around 400 employees voted unanimously to continue their strike at a general meeting, the CGT and CFDT unions said.

“I’m very disappointed, because the Louvre was the main reason for our visit in Paris, because we wanted to see the ‘Mona Lisa’,” said 37-year-old Minsoo Kim, who travelled from Seoul to Paris with his wife for their honeymoon.

Natalia Brown, a 28-year-old tourist from London, said she was also disappointed. “At the same time, I understand why they’re doing it, it’s just unfortunate timing for us.”

Speaking on the eve of the action, Christian Galani, from the hard-left CGT union, said the strike would have broad support across the museum’s 2,200-strong workforce.

“We’re going to have a lot more strikers than usual,” Galani said. “Normally, it’s front-of-house and security staff. This time, there are scientists, documentarians, collections managers, even curators and colleagues in the workshops telling us they plan to go on strike.”

All have different grievances, adding up to a picture of staff discontent inside the institution, just as it finds itself in a harsh public spotlight following the shocking robbery on October 19.

Reception and security staff complain they are understaffed and required to manage vast flows of people, with the home of Leonardo da Vinci’s “Mona Lisa” welcoming several million people beyond its planned capacity each year.

A spontaneous walk-out protest on June 16 this year led the museum to temporarily close.

The Louvre has become a symbol of so-called “over-tourism”, with the 30,000 daily visitors facing what unions call an “obstacle course” of hazards, long queues, and sub-standard toilets and catering.

Documentarians and curators are increasingly horrified by the state of disrepair inside the former royal palace, with a recent water leak and the closure of a gallery due to structural problems underlining the difficulties.

“The building is not in a good state,” chief Louvre architect Francois Chatillon admitted in front of lawmakers last month during a parliamentary hearing.

Under-fire Louvre boss Laurence des Cars, who faces persistent calls to resign, warned the government in January in a widely publicised memo about leaks, overheating and the declining visitor experience.

After the memo, French President Emmanuel Macron announced a massive renovation plan for the museum, expected to cost 700 million to 800 million euros (up to $940 million).

Questions continue to swirl since the break-in over whether it was avoidable and why a national treasure such as the Louvre appeared to be so poorly protected.

Two intruders used a portable extendable ladder to access the gallery containing the crown jewels, cutting through a glass door with angle grinders in front of startled visitors before stealing eight priceless items.

Investigations have since revealed that only one security camera was working outside when they struck, that guards in the control room did not have enough screens to watch the coverage in real time, and that police were initially misdirected.

Major security vulnerabilities were highlighted in several studies seen by management of the Louvre over the last decade, including a 2019 audit by experts at the jewellery company Van Cleef & Arpels.

Their findings stressed that the riverside balcony targeted by the thieves was a weak point and could be easily reached with an extendable ladder- exactly what transpired in the heist.

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Gauthier Borsarello announces his departure from Fursac

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Gauthier Borsarello announces his departure from Fursac


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December 15, 2025

Under Gauthier Borsarello’s creative direction, Fursac joined the Paris Fashion Week calendar. Over five years at the creative helm of the French menswear brand, the designer remained faithful to the label’s formal roots while setting a new tone.

Fursac – Autumn-Winter 2025-2026 – Menswear – France – Paris – ©Launchmetrics/spotlight

Under the leadership of the vintage specialist and co-founder of L’étiquette magazine, the brand, which was still called De Fursac when he arrived and had just been taken over by the SMCP group, staged its first presentation for the spring/ summer 2023 season. Last January, Borsarello staged a catwalk show to present his vision for autumn/ winter 2025-2026. In mid-December, he announced his departure via his Instagram account.

“I would like to sincerely thank Daniel Lalonde, Elina Kousourna, Alix Le Naour, Evelyne Chetrite, and Judith Milgrom for the opportunity to work at Fursac five years ago as creative director. This chapter has been meaningful, both creatively and professionally. I am grateful for the trust, the exchanges, and the freedom to contribute to the evolution of the brand,” he says in a message dated December 12.

“I am particularly proud of the studio, design, image, and communications, and of what we have achieved together: bringing the brand onto the official Fashion Week calendar after just one season, and continuing this journey through to the Paris Fashion Week show in January 2025. Thank you for the experience, perspective, and relationships built along the way. I will carry them with me on my journey.”

In five years, the designer has introduced modernised silhouettes and strengthened Fursac’s casual wardrobe, with a heightened focus on fabric choices. He has also broadened his references, from inspirations drawn from football and surfing to a more cutting-edge creative universe centred on music and the arts, as in his SS25 presentation through work with artist Lionel Estève, whose work is exhibited at the Musée Picasso in Paris.

The group confirmed this decision to FashionNetwork.com. “The group’s studio teams have taken over and are currently working on finalising the FW 2026 collection,” notes Isabelle Guichot, SMCP’s chief executive.

The brand welcomed Louise Bousquet-Andreani as its managing director at the beginning of the year. For the time being, activity at its historic premises and boutique on the corner of Richelieu-Drouot, on the Grands Boulevards in Paris, has been put on hold, FashionNetwork observed.

“The Fursac teams at the rue Richelieu boutique have been temporarily redeployed to the brand’s other Parisian stores, notably for the end-of-year sales period. SMCP hopes to reopen the rue Richelieu boutique at the beginning of 2026”, explains Isabelle Guichot, who adds that “as part of the change of ownership of the building, SMCP has decided to bring Fursac’s head office teams into its offices in the 1st arrondissement of Paris.”

Along with Claudie Pierlot, Fursac is reported under the group’s Other Brands segment in SMCP’s published results. After revenue reached €167 million in 2023, this division declined to €148 million in 2024. In the first nine months of 2025, sales were stable compared with the previous year at €108 million, on group revenue of €895 million.

Following the completion of legal proceedings regarding the actions of its former shareholder, the group’s current majority shareholders announced their intention to sell their shares on November 27.

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