Caleres Q2 EPS Beats on Tariff Refund; Raises Full-Year Adjusted EPS Guidance
CAL sits 47% above its 52-week low of $8.8.
Summary
Caleres reported Q2 2026 GAAP EPS of $1.71, boosted by a $55.6M tariff refund, and raised the low end of full-year adjusted EPS guidance to $1.50-$1.65. Brand Portfolio grew 23.6% while Famous Footwear comps fell 5.9%.
Key Events · Earnings and Guidance · CAL
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Q2 EPS Beats on Tariff Refund
GAAP EPS of $1.71 vs $0.20 last year, including a $55.6M tariff refund recovery. Adjusted EPS of $0.47 vs $0.35 last year.
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Full-Year Adjusted EPS Guidance Raised
Adjusted EPS guidance raised to $1.50-$1.65 from $1.40-$1.65; GAAP EPS guidance of $2.80-$2.95.
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Brand Portfolio Drives Growth
Brand Portfolio net sales up 23.6% (8.2% organic), with adjusted gross margin up 880 bps to 49.1%.
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Famous Footwear Weakness
Famous Footwear sales down 6.3% with comparable sales down 5.9%; gross margin down 100 bps to 42.7%.
Analysis · CAL · Manufacturing
Caleres delivered a strong second quarter, with GAAP EPS of $1.71 versus $0.20 last year, driven by a $55.6 million tariff refund that lifted gross margin to 54.8%. Excluding that one-time benefit, adjusted EPS of $0.47 still beat last year's $0.35 and exceeded expectations. The company raised the low end of its full-year adjusted EPS guidance to $1.50-$1.65 from $1.40-$1.65, signaling confidence in the Brand Portfolio's momentum. The offset is Famous Footwear, where comparable sales fell 5.9% and margins compressed, though management noted flat comps quarter-to-date through Labor Day. The tariff refund is a non-recurring windfall, so the market will focus on the underlying 340 basis point adjusted gross margin expansion and the guidance raise as the real story.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 29.9% of the 1944 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.15%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CAL was trading at $12.91 on NYSE in the Manufacturing sector, with a market capitalization of approximately $404.1M. The 52-week trading range was $8.80 to $16.14. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.