<p>Caleres（纽约证券交易所代码：CAL）公布了其第四季度的财报，结果并未达到分析师的预期。这家鞋类零售和批发商的销售额大幅下降，未能满足分析师的预估。这一消息令许多人感到意外，因为该公司在之前几个季度的表现强劲。让我们深入了解细节，探讨这对 Caleres 及其投资者意味着什么。</p>
<p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a67b473c3c20001.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a67b473c3c20001.png"/></p>
<p>2024 年第四季度对 Caleres 来说是一个充满挑战的季度。该季度的净销售额为 6.392 亿美元，同比下降 8.3%。如果不考虑第 53 周的影响，净销售额下降了 4.0%。与 2023 年第四季度相比，这一下降是显著的，2023 年第四季度的净销售额为 6.971 亿美元，比 2022 年第四季度增长了 0.1%。多个因素导致了销售额的下降。其中一个关键因素是 Famous Footwear 在该季度的业务疲软。Famous Footwear 部门的净销售额下降了 9.6%，可比销售额下降了 2.9%。该部门历来是 Caleres 整体销售的重要贡献者，其下降对公司的业绩产生了显著影响。</p>
<p>此外，品牌组合部门，包括 Sam Edelman、Allen Edmonds、Naturalizer 和 Vionic 等主要品牌，净销售额也下降了 7.2%。该部门此前表现强劲，2023 年第四季度的净销售额同比增长了 4.5%。2024 年的下降表明消费者需求或市场条件发生了变化，影响了这些品牌。</p>
<p>公司还面临与宏观经济环境相关的挑战，包括持续的通货膨胀和新关税。这些因素可能影响了消费者的消费习惯和供应链运作，导致整体销售额下降。公司总裁兼首席执行官 Jay Schmidt 指出，由于这些持续的挑战，公司对未来一年的展望持保守态度。</p>
<p>那么，这对 Caleres 及其投资者意味着什么呢？公司对未来一年的保守展望与其长期增长战略相一致，优先考虑在持续的通货膨胀和新关税面前的财务稳定性和风险缓解。这一策略在公司对 2024 财年的指导中得以体现，预计净销售额与 2023 财年持平或增长 2%，每股收益为 4.30 美元至 4.60 美元。这一保守的前景得到了公司的行动支持，例如与 2023 年第三季度相比，减少了 4000 万美元的循环借款，与 2022 财年相比减少了超过 1.25 亿美元。通过采取保守立场，Caleres 旨在确保其具备财务灵活性，以应对潜在的经济逆风，并继续投资于其战略优先事项。</p>
<p>与这种策略相关的潜在风险包括，如果市场条件比预期改善得更快，可能会错失增长机会。然而，机会在于公司能够加强其财务状况，优化供应链，并投资于推动价值的增长机会。例如，Caleres 继续投资于推动价值的增长机会，同时通过分红和股票回购向股东返还 7470 万美元的现金。此外，公司计划以 1.05 亿美元收购 Stuart Weitzman（需进行惯例调整），这使其在 2025 年及以后能够创造显著价值。通过采取保守的态度，Caleres 可以专注于执行其增长战略，实现长期财务目标，并为股东创造持续的价值。</p>

<p>Caleres（纽约证券交易所代码：CAL）公布了第四季度财报，净销售额为 6.392 亿美元，同比下降 8.3%，未能达到分析师预期。销售额的下降主要归因于 Famous Footwear 销售额下降 9.6% 以及品牌组合部门下降 7.2%。宏观经济挑战，包括通货膨胀和关税，影响了消费者支出。该公司对 2024 财年的前景持保守态度，预计销售增长持平至 2%，每股收益在 4.30 美元至 4.60 美元之间。Caleres 旨在加强其财务状况，同时投资于增长机会，包括计划以 1.05 亿美元收购 Stuart Weitzman</p>

<p>Caleres (NYSE:CAL) has reported its fourth-quarter earnings, and the results are not what analysts were expecting. The footwear retailer and wholesaler saw a significant decline in sales, falling short of analyst estimates. This news comes as a surprise to many, given the company's strong performance in previous quarters. Let's dive into the details and explore what this means for caleres and its investors.</p>
<div class="lb-trans"><p>Caleres（纽约证券交易所代码：CAL）公布了其第四季度的财报，结果并未达到分析师的预期。这家鞋类零售和批发商的销售额大幅下降，未能满足分析师的预估。这一消息令许多人感到意外，因为该公司在之前几个季度的表现强劲。让我们深入了解细节，探讨这对 Caleres 及其投资者意味着什么。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a67b473c3c20001.png" alt="" original-src="https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a67b473c3c20001.png"/></p>
<p>The fourth quarter of 2024 was a challenging one for Caleres. Net sales for the quarter were $639.2 million, down 8.3% year-over-year. When excluding the impact of the 53rd week, net sales decreased by 4.0%. This decline is significant when compared to the fourth quarter of 2023, where net sales were $697.1 million, up 0.1% from the fourth quarter of 2022. Several factors contributed to this decline in sales. One key factor was the softening of Famous Footwear's business during the quarter. Famous Footwear segment net sales decreased by 9.6%, with comparable sales down 2.9%. This segment has historically been a significant contributor to Caleres' overall sales, and its decline had a notable impact on the company's performance.</p>
<div class="lb-trans"><p>2024 年第四季度对 Caleres 来说是一个充满挑战的季度。该季度的净销售额为 6.392 亿美元，同比下降 8.3%。如果不考虑第 53 周的影响，净销售额下降了 4.0%。与 2023 年第四季度相比，这一下降是显著的，2023 年第四季度的净销售额为 6.971 亿美元，比 2022 年第四季度增长了 0.1%。多个因素导致了销售额的下降。其中一个关键因素是 Famous Footwear 在该季度的业务疲软。Famous Footwear 部门的净销售额下降了 9.6%，可比销售额下降了 2.9%。该部门历来是 Caleres 整体销售的重要贡献者，其下降对公司的业绩产生了显著影响。</p>
</div><p>Additionally, the Brand Portfolio segment, which includes lead brands like Sam Edelman, Allen Edmonds, Naturalizer, and Vionic, also experienced a decrease in net sales by 7.2%. This segment had previously shown strong performance, with a 4.5% increase in year-over-year net sales in the fourth quarter of 2023. The decline in 2024 indicates a shift in consumer demand or market conditions that affected these brands.</p>
<div class="lb-trans"><p>此外，品牌组合部门，包括 Sam Edelman、Allen Edmonds、Naturalizer 和 Vionic 等主要品牌，净销售额也下降了 7.2%。该部门此前表现强劲，2023 年第四季度的净销售额同比增长了 4.5%。2024 年的下降表明消费者需求或市场条件发生了变化，影响了这些品牌。</p>
</div><p>The company also faced challenges related to the macroeconomic environment, including persistent inflation and newer tariffs. These factors likely influenced consumer spending habits and supply chain operations, contributing to the overall decline in sales. Jay Schmidt, the president and chief executive officer, noted that the company took a conservative view of the year ahead due to these persistent challenges.</p>
<div class="lb-trans"><p>公司还面临与宏观经济环境相关的挑战，包括持续的通货膨胀和新关税。这些因素可能影响了消费者的消费习惯和供应链运作，导致整体销售额下降。公司总裁兼首席执行官 Jay Schmidt 指出，由于这些持续的挑战，公司对未来一年的展望持保守态度。</p>
</div><p>So, what does this mean for Caleres and its investors? The company's decision to take a conservative view for the year ahead aligns with its long-term growth strategy by prioritizing financial stability and risk mitigation in the face of persistent inflation and newer tariffs. This approach is evident in the company's guidance for fiscal 2024, where it expects net sales to be flat to up 2 percent compared to fiscal 2023 and earnings per share of $4.30 to $4.60. This conservative outlook is further supported by the company's actions, such as reducing revolver borrowings by $40 million compared to the third quarter of 2023 and more than $125 million from fiscal 2022. By taking a conservative stance, Caleres aims to ensure that it has the financial flexibility to navigate potential economic headwinds and continue investing in its strategic priorities.</p>
<div class="lb-trans"><p>那么，这对 Caleres 及其投资者意味着什么呢？公司对未来一年的保守展望与其长期增长战略相一致，优先考虑在持续的通货膨胀和新关税面前的财务稳定性和风险缓解。这一策略在公司对 2024 财年的指导中得以体现，预计净销售额与 2023 财年持平或增长 2%，每股收益为 4.30 美元至 4.60 美元。这一保守的前景得到了公司的行动支持，例如与 2023 年第三季度相比，减少了 4000 万美元的循环借款，与 2022 财年相比减少了超过 1.25 亿美元。通过采取保守立场，Caleres 旨在确保其具备财务灵活性，以应对潜在的经济逆风，并继续投资于其战略优先事项。</p>
</div><p>The potential risks associated with this approach include the possibility of missing out on growth opportunities if the market conditions improve faster than expected. However, the opportunities lie in the company's ability to strengthen its financial position, optimize its supply chain, and invest in value-driving growth opportunities. For instance, Caleres has continued to invest in value-driving growth opportunities while at the same time returning $74.7 million in cash to shareholders through its dividend and share repurchases. Additionally, the company's planned acquisition of Stuart Weitzman for $105 million, subject to customary adjustments, positions it well to drive significant value in 2025 and beyond. By taking a conservative view, Caleres can focus on executing its growth strategy, delivering on its long-term financial targets, and creating sustained value for its shareholders.</p>
<div class="lb-trans"><p>与这种策略相关的潜在风险包括，如果市场条件比预期改善得更快，可能会错失增长机会。然而，机会在于公司能够加强其财务状况，优化供应链，并投资于推动价值的增长机会。例如，Caleres 继续投资于推动价值的增长机会，同时通过分红和股票回购向股东返还 7470 万美元的现金。此外，公司计划以 1.05 亿美元收购 Stuart Weitzman（需进行惯例调整），这使其在 2025 年及以后能够创造显著价值。通过采取保守的态度，Caleres 可以专注于执行其增长战略，实现长期财务目标，并为股东创造持续的价值。</p>
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Caleres（纽约证券交易所代码：CAL）报告第四季度销售额低于分析师的预期