# EDGAR Filing Document

**Accession Number:** 0000014707
**File Stem:** 0000014707-26-000039
**Filing Date:** 2026-3
**Character Count:** 47795
**Document Hash:** eea514e2f07adb1d288bef169b97f9f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000014707-26-000039.hdr.sgml**: 20260319

**ACCESSION NUMBER**: 0000014707-26-000039

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260319

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260319

**DATE AS OF CHANGE**: 20260319

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CALERES INC
- **CENTRAL INDEX KEY:** 0000014707
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOOTWEAR, (NO RUBBER) [3140]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 430197190
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-02191
- **FILM NUMBER:** 26772560

**BUSINESS ADDRESS:**
- **STREET 1:** 8300 MARYLAND AVE
- **STREET 2:** P O BOX 29
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63105
- **BUSINESS PHONE:** 3148544000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 29
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63166

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BROWN SHOE CO INC
- **DATE OF NAME CHANGE:** 20030613

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BROWN SHOE CO INC/
- **DATE OF NAME CHANGE:** 19990528

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BROWN GROUP INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? CALERES, INC._March 19, 2026

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) **March 19, 2026**

**CALERES, INC.**

***(****Exact name of registrant as specified in its charter)*

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| | | |
|:---|:---|:---|
| **New York** | **1-2191** | **43-0197190** |
| *(State or other jurisdiction of*  |  |  |
| *incorporation or organization)* | *(Commission File Number)* | *(IRS Employer Identification Number)* |

---

---

| | |
|:---|:---|
| **8300 Maryland Avenue St. Louis, Missouri** | **63105** |
| *(Address of principal executive offices)* | *(Zip Code)* |

---

**(314) 854-4000**

*(Registrant's telephone number, including area code)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock - par value of $0.01 per share<br> CAL | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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#### Item 2.02 Results of Operations and Financial Condition
On March 19, 2026, Caleres, Inc. (the "Company") issued a press release (the "Press Release") announcing, among other things, its results of operations for the quarter ended January 31, 2026. A copy of the Press Release is being furnished as Exhibit 99.1 hereto, and the statements contained therein are incorporated by reference herein.

In accordance with General Instruction B.2. of Form 8-K, the information contained in Item 2.02 and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

#### Item 9.01 Financial Statements and Exhibits

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| | | |
|:---|:---|:---|
| (d) | Exhibits |  |
| Exhibit Number | Exhibit Number | Description |
| 99.1 | 99.1 | [Press Release Issued March 19, 2026](cal-20260319xex99d1.htm) |
| 104 | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | **CALERES, INC.** |
|  | (Registrant) |
| Date: March 19, 2026 | /s/ Thomas C. Burke |
|  | Thomas C. Burke |
|  | Senior Vice President, General Counsel and Secretary |

---

## Exhibit 99.1

#### Exhibit 99.1
**Caleres Reports Fourth Quarter & Fiscal 2025 Results**

*Fourth quarter adjusted EPS exceeds guidance. Lead Brands, eCommerce and International drive growth. Caleres completes Stuart Weitzman integration.*

![Graphic](cal-20260319xex99d1001.jpg)

*Sam Edelman Saige Studded Ankle Boot*

●  ***Reported fourth quarter net sales of $695.1 million, up 8.7%.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Brand Portfolio sales increased 20.3%, with organic sales up 1.5%.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Continued growth across all channels of our Brand Portfolio business, supplemented by continued market share gain in Women's Fashion Footwear (+0.85%) and Total Footwear (+0.34%).*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Famous Footwear sales declined 1.2%, with comparable sales up 0.1%.*** 

●  ***Owned eCommerce sales across Famous Footwear and Brand Portfolio remained up double digits.*** 

●  ***GAAP loss per diluted share was $0.70. Adjusted loss per diluted share was $0.36. Excluding Stuart Weitzman, adjusted loss per diluted share was $0.06.*** 

●  ***Completed the Stuart Weitzman integration onto Caleres platforms as we finished the quarter, both on time and on budget, with minimal business disruption.*** 

●  ***Expects first quarter 2026 consolidated net sales up mid to high-single digits and GAAP earnings per diluted share of $0.21 to $0.26, and adjusted earnings per diluted share of $0.25 to $0.30.*** 

●  ***Expects fiscal 2026 consolidated net sales up low to mid-single digits and GAAP earnings per diluted share of $1.31 to $1.61, and adjusted earnings per diluted share of $1.35 to $1.65.*** 

ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for the fourth quarter and full year 2025, as well as guidance for first quarter and full year 2026.

"Caleres' fourth quarter exceeded our earnings guidance with sales modestly above expectations and gross margin better than anticipated in both segments," said Jay Schmidt, president and chief executive officer. "Performance was driven by continued strength in owned eCommerce and international growth, reinforcing our strategic growth vectors. Our Lead Brands once again outperformed, and we gained market share in both women's fashion footwear and total footwear. We also completed the Stuart Weitzman integration with minimal business disruption. At Famous Footwear, FLAIR remodels continue to outperform the fleet, and our more curated and elevated assortment is resonating with consumers as Famous gained market share in shoe chains.

"As we look ahead, 2026 is shaping up as a build-back year with modest organic sales growth and meaningful earnings recovery. While we have many reasons for optimism, we are also aware that the current geopolitical backdrop presents a level of risk and uncertainty. Profit improvement in 2026 will be driven primarily by our tariff mitigation efforts taking

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hold and our plan to bring Stuart Weitzman to breakeven profitability. We are confident that executing our strategic plans will result in improved financial performance and drive long-term value for our shareholders."

**Fourth Quarter 2025 Results**

(13 weeks ended January 31, 2026, compared to 13 weeks ended February 1, 2025)

● **Net sales** were $695.1 million, up 8.7% versus fourth quarter 2024, and $638.7 million when excluding Stuart Weitzman.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Famous Footwear net sales decreased 1.2% versus last year, with comparable sales up 0.1%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Brand Portfolio net sales increased 20.3% versus last year, and 1.5% when excluding Stuart Weitzman.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Direct-to-consumer sales represented approximately 74% of total net sales.

● **Gross profit** was $290.3 million with a gross margin of 41.8%, down 230 basis points versus last year. Adjusted gross profit was $298.4 million with adjusted gross margin of 42.9%, down 10 basis points versus last year. Excluding Stuart Weitzman, adjusted gross profit was $271.3 million, with adjusted gross margin of 42.5%, down 60 basis points versus last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Famous Footwear gross margin was 42.5%, nearly flat versus last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Brand Portfolio gross margin was 39.3%, down 230 basis points versus last year. Adjusted gross margin was 41.6%, down 10 basis points versus last year.

● **Selling and administrative expenses** were $310.0 million, or 44.6% of net sales, deleveraged 370 basis points versus last year, primarily reflecting $39 million in expenses related to Stuart Weitzman. Excluding Stuart Weitzman, selling and administrative expenses were $270.8 million, or 42.4% of net sales, deleveraged 150 basis points versus last year.

● **GAAP net loss** was $22.7 million, or loss per diluted share of $0.70, versus last year's GAAP net earnings of $4.9 million or earnings per diluted share of $0.15. Adjusted net loss was $11.7 million, or adjusted loss per diluted share of $0.36, versus last year's net earnings of $11.1 million, or earnings per diluted share of $0.33. Excluding Stuart Weitzman, adjusted net loss was $1.9 million, or adjusted loss per diluted share of $0.06.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Earnings (loss) per diluted share** | &nbsp;&nbsp;**4Q25** | &nbsp;&nbsp;**4Q24** |
| &nbsp;&nbsp;GAAP | &nbsp;&nbsp;($0.70) | &nbsp;&nbsp;$0.15 |
| &nbsp;&nbsp;Adjusted | &nbsp;&nbsp;($0.36) | &nbsp;&nbsp;$0.33 |
| &nbsp;&nbsp;Adjusted excluding Stuart Weitzman | &nbsp;&nbsp;($0.06) | &nbsp;&nbsp;$0.33 |

---

**Fiscal Year 2025 Results**

(52 weeks ended January 31, 2026, compared to 52 weeks ended February 1, 2025)

● **Net sales** were $2.8 billion, up 1.3% versus fiscal 2024, including Stuart Weitzman.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Famous Footwear segment net sales decreased 3.6% versus last year, with comparable sales down 2.3%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Brand Portfolio segment net sales increased 7.3% versus last year. Excluding Stuart Weitzman, net sales decreased 1.0% versus last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Direct-to-consumer sales represented approximately 73% of total net sales.

● **Gross profit** was $1.18 billion with a gross margin of 43.0%, down 190 basis points versus last year. Adjusted gross margin was 43.5%, down 140 basis points versus last year. Excluding Stuart Weitzman, adjusted gross profit was $1.15 billion with gross margin of 43.4%, down 150 basis points versus last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Famous Footwear segment gross margin was 43.2%, down 90 basis points versus last year.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Brand Portfolio segment gross margin was 40.8%, down 290 basis points versus last year. Adjusted gross margin was 42.0%, down 170 basis points versus last year. Excluding Stuart Weitzman, gross margin was 41.6%, down 220 basis points versus last year.

● **Selling and administrative expenses** were $1.2 billion, or 42.0% of net sales, deleveraged 290 basis points versus last year, primarily reflecting $71 million of Stuart Weitzman expense. Excluding Stuart Weitzman, selling and administrative expenses were $1.1 billion, or 40.9% of net sales, deleveraged 180 basis points versus last year.

● **GAAP net loss** was $6.7 million, or loss per diluted share of $0.21, versus last year's GAAP net earnings of $107.3 million or earnings per diluted share of $3.09. Adjusted net earnings were $20.5 million, or adjusted earnings per diluted share of $0.61, versus last year's net earnings of $114.6 million, or earnings per diluted share of $3.30. Excluding Stuart Weitzman, adjusted net earnings were $40.2 million, or adjusted earnings per diluted share of $1.19.

● **Inventory** at year-end was $610.5 million, up $45.2 million versus last year, of which about $57 million was from Stuart Weitzman. Excluding Stuart Weitzman, Brand Portfolio inventory was down 6%. Famous inventory was up 2%.

● **Borrowings** under the asset-based revolving credit facility were $296.5 million, and liquidity was $237.5 million.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Earnings (loss) per diluted share** | &nbsp;&nbsp;**FY25** | &nbsp;&nbsp;**FY24** |
| &nbsp;&nbsp;GAAP | &nbsp;&nbsp;($0.21) | &nbsp;&nbsp;$3.09 |
| &nbsp;&nbsp;Adjusted | &nbsp;&nbsp;$0.61 | &nbsp;&nbsp;$3.30 |
| &nbsp;&nbsp;Adjusted excluding Stuart Weitzman | &nbsp;&nbsp;$1.19 | &nbsp;&nbsp;$3.30 |

---

**First Quarter & Fiscal 2026 Outlook**

For the first quarter of 2026, we expect sales to increase mid- to high-single digits versus last year. Famous Footwear sales are expected to be down low single digits to flat, with comparable sales of down 2% to up 1%. Brand Portfolio sales are anticipated to be up mid-teens, with low single-digit organic growth. Gross margin is expected to improve 120 to 140 basis points. With discrete items impacting the quarter, we expect a tax rate of 30% to 32%. We expect GAAP earnings per diluted share of $0.21 to $0.26 and adjusted earnings per diluted share of $0.25 to $0.30, as we expect to incur approximately $2 million in remaining Stuart Weitzman acquisition and integration expenses.

For fiscal 2026, we expect total sales to increase low to mid-single digits versus fiscal 2025. Famous Footwear sales are expected to be down low single digits to flat, with comparable sales of down 1% to up 1%. Brand Portfolio sales are anticipated to increase low double digits, with low to mid-single-digit organic growth. Gross margin is expected to improve 140 to 180 basis points as tariff mitigation actions take hold and mix improves. We expect interest expense of approximately $18 million, a full-year tax rate of 28% to 30%, and capital expenditures of $55 to $60 million. We expect GAAP earnings per diluted share of $1.31 to $1.61 and adjusted earnings per diluted share of $1.35 to $1.65, as we expect to incur approximately $2 million in remaining Stuart Weitzman acquisition and integration expenses.

***First Quarter 2026***

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| | |
|:---|:---|
| Metric | 1Q26 Guidance |
| *Net Sales* | Up mid to high-single digits |
| *Gross Margin* | Up 120 to 140 bps |
| *Tax Rate* | 30% to 32% |
| *GAAP EPS* | $0.21 to $0.26 |
| *Adjusted EPS* | $0.25 to $0.30 |

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***Fiscal 2026***

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| | |
|:---|:---|
| Metric | FY26 Guidance |
| *Net Sales* | Up low to mid-single digits |
| *Gross Margin* | Up 140 to 180 bps |
| *Tax Rate* | 28% to 30% |
| *Interest Expense* | ~$18 million |
| *GAAP EPS* | $1.31 to $1.61 |
| *Adjusted EPS* | $1.35 to $1.65 |
| *Capital Expenditures* | $55 to $60 million |

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**###**

**Investor Conference Call**

Caleres will host a conference call at 10:00 a.m. ET today, Thursday, March 19, 2026. The webcast and associated slides will be available at investor.caleres.com/events-and-presentations. A live conference call will be available at (877) 704-4453 for North America participants or (201) 389-0920 for international participants; no passcode necessary. A replay will also be available at investor.caleres.com/events-and-presentations for a limited period. Investors can access the replay through April 2, 2026 by dialing (844) 512-2921 in North America or (412) 317-6671 internationally and using the pin 13758564.

**About Caleres**

Caleres is a market-leading portfolio of global footwear brands that includes Famous Footwear, Sam Edelman, Stuart Weitzman, Allen Edmonds, Naturalizer, Vionic, and more. Our products are available virtually everywhere - in the nearly 1,000 retail stores we operate, in hundreds of major department and specialty stores, on our branded eCommerce sites, and on many additional third-party retail platforms. Combined, these brands make Caleres a company with both a legacy and a mission. Our legacy is nearly 150 years of craftsmanship and our passion for fit, while our mission is to continue to inspire people to feel great…feet first. Visit caleres.com to learn more about us.

**Definitions**

All references in this press release, outside of the condensed consolidated financial statements that follow, unless otherwise noted, related to net earnings (loss) attributable to Caleres, Inc. and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders, are presented as net earnings (loss) and earnings (loss) per diluted share, respectively.

**Non-GAAP Financial Measures and Metrics**

In this press release, the company's financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures and metrics. In particular, the company provides estimated and future gross profit, operating earnings (loss), net earnings (loss) and earnings (loss) per diluted share, adjusted to exclude certain gains, charges and recoveries and the financial results of the acquired Stuart Weitzman business, which are non-GAAP financial measures. These results are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures and metrics help identify underlying trends in the company's business and provide useful information to both management and investors by excluding certain items that may not be indicative of the company's core operating results. This measure and metric should not be considered a substitute for or superior to GAAP results.

**Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995**

This press release contains certain forward-looking statements and expectations regarding the company's future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changes in United States and international trade policies, including tariffs and trade restrictions; (ii) changing consumer demands, which may be influenced by general economic conditions and other factors; (iii) inflationary pressures and supply chain disruptions; (iv) rapidly changing consumer

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preferences and purchasing patterns and fashion trends; (v) supplier concentration, customer concentration and increased consolidation in the retail industry; (vi) intense competition within the footwear industry; (vii) foreign currency fluctuations; (viii) political and economic conditions or other threats to the continued and uninterrupted flow of inventory from China and other countries, where the company relies heavily on third-party manufacturing facilities for a significant amount of its inventory; (ix) cybersecurity threats or other major disruption to the company's information technology systems including those related to our ERP upgrade; (x) transitional challenges with acquisitions and divestitures; (xi) the ability to accurately forecast sales and manage inventory levels; (xii) a disruption in the company's distribution centers; (xiii) the ability to recruit and retain senior management and other key associates; (xiv) the ability to secure/exit leases on favorable terms; (xv) the ability to maintain relationships with current suppliers; (xvi) changes to tax laws, policies and treaties; (xvii) our commitments and shareholder expectations related to responsible business initiatives; (xviii) compliance with applicable laws and standards with respect to labor, trade and product safety issues; and (xix) the ability to attract, retain, and maintain good relationships with licensors and protect our intellectual property rights.

The company's reports to the Securities and Exchange Commission contain detailed information relating to such factors, including, without limitation, the information under the caption Risk Factors in Item 1A of the company's Annual Report on Form 10-K for the year ended February 1, 2025, which information is incorporated by reference herein and updated by the company's Quarterly Reports on Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change.

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| |
|:---|
| **SCHEDULE 1** |
| **CALERES, INC.** |
| **CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS**  |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
| *($ thousands, except per share data)* | January 31, 2026 | February 1, 2025 | January 31, 2026 | February 1, 2025 |
| Net sales | $695062 | $639226 | $2757853 | $2722683 |
| Cost of goods sold | 404722 | 364118 | 1573075 | 1500641 |
| Gross profit | 290340 | 275108 | 1184778 | 1222042 |
| Selling and administrative expenses | 310010 | 261664 | 1157515 | 1065019 |
| Restructuring and other special charges, net | 6803 | 5574 | 20891 | 7167 |
| Operating (loss) earnings | (26473) | 7870 | 6372 | 149856 |
| Interest expense, net | (4677) | (3932) | (18464) | (13957) |
| Other expense, net | (1497) | (2944) | (130) | (741) |
| (Loss) earnings before income taxes | (32647) | 994 | (12222) | 135158 |
| Income tax benefit (provision) | 8330 | 2913 | 2345 | (29061) |
| Net (loss) earnings | (24317) | 3907 | (9877) | 106097 |
| Net loss attributable to noncontrolling interests | (1583) | (1023) | (3185) | (1158) |
| Net (loss) earnings attributable to Caleres, Inc. | $(22734) | $4930 | $(6692) | $107255 |
| Basic (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.70) | $0.15 | $(0.21) | $3.10 |
| Diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.70) | $0.15 | $(0.21) | $3.09 |

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| |
|:---|
| **SCHEDULE 2** |
| **CALERES, INC.** |
| **CONDENSED CONSOLIDATED BALANCE SHEETS** |

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| | | |
|:---|:---|:---|
|  | (Unaudited) | (Unaudited) |
| *($ thousands)* | January 31, 2026 | February 1, 2025 |
| **ASSETS** |  |  |
| Cash and cash equivalents | $29769 | $29636 |
| Receivables, net | 147216 | 155905 |
| Inventories, net | 610471 | 565241 |
| Property and equipment, held for sale |  | 16777 |
| Prepaid expenses and other current assets | 75318 | 68950 |
| &nbsp;&nbsp;Total current assets | 862774 | 836509 |
| Lease right-of-use assets | 562327 | 564330 |
| Property and equipment, net | 202939 | 175213 |
| Goodwill and intangible assets, net | 204147 | 192274 |
| Other assets | 133603 | 126428 |
| &nbsp;&nbsp;Total assets | $1965790 | $1894754 |
| **LIABILITIES AND EQUITY** |  |  |
| Borrowings under revolving credit agreement | $296500 | $219500 |
| Trade accounts payable | 191150 | 237038 |
| Lease obligations | 127034 | 127522 |
| Other accrued expenses | 230856 | 173873 |
| &nbsp;&nbsp;Total current liabilities | 845540 | 757933 |
| Noncurrent lease obligations | 467597 | 479524 |
| Other liabilities | 43697 | 51348 |
| &nbsp;&nbsp;Total other liabilities | 511294 | 530872 |
| Total Caleres, Inc. shareholders' equity | 601851 | 599024 |
| Noncontrolling interests | 7105 | 6925 |
| &nbsp;&nbsp;Total equity | 608956 | 605949 |
| Total liabilities and equity | $1965790 | $1894754 |

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| |
|:---|
| **SCHEDULE 3** |
| **CALERES, INC.** |
| **CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** |

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| | | |
|:---|:---|:---|
|  | (Unaudited) | (Unaudited) |
| *($ thousands)* | January 31, 2026 | February 1, 2025 |
| **OPERATING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | $103177 | $104562 |
| **INVESTING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;Purchases of property and equipment | (63744) | (49147) |
| &nbsp;&nbsp;Proceeds from sale of headquarters | 15272 |  |
| &nbsp;&nbsp;Capitalized software | (4147) | (2539) |
| &nbsp;&nbsp;Acquisition of Stuart Weitzman, net of cash received | (108858) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash used for investing activities | (161477) | (51686) |
| **FINANCING ACTIVITIES:** |  |  |
| &nbsp;&nbsp;Borrowings under revolving credit agreement | 849500 | 639868 |
| &nbsp;&nbsp;Repayments under revolving credit agreement | (772500) | (602368) |
| &nbsp;&nbsp;Debt issuance costs | (2920) |  |
| &nbsp;&nbsp;Dividends paid | (9448) | (9694) |
| &nbsp;&nbsp;Acquisition of treasury stock | (5044) | (65039) |
| &nbsp;&nbsp;Issuance of common stock under share-based plans, net | (3862) | (9276) |
| &nbsp;&nbsp;Contributions by noncontrolling interests | 2650 | 2000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used for) financing activities | 58376 | (44509) |
| &nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents | 57 | (89) |
| &nbsp;&nbsp;Increase in cash and cash equivalents | 133 | 8278 |
| &nbsp;&nbsp;Cash and cash equivalents at beginning of period | 29636 | 21358 |
| &nbsp;&nbsp;Cash and cash equivalents at end of period | $29769 | $29636 |

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| |
|:---|
| **SCHEDULE 4** |
| **CALERES, INC.** |
| **RECONCILIATION OF NET EARNINGS AND DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS) AND ADJUSTED NET EARNINGS AND ADJUSTED DILUTED EARNINGS PER SHARE, EXCLUDING STUART WEITZMAN (NON-GAAP BASIS)** |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  |
|  | January 31, 2026 | January 31, 2026 | January 31, 2026 | February 1, 2025 | February 1, 2025 | February 1, 2025 |
|  | Pre-Tax | Net (Loss) Earnings |  | Pre-Tax | Net Earnings |  |
|  | Impact of | Attributable | Diluted | Impact of | Attributable | Diluted |
|  | Charges/Other | to Caleres, | Earnings | Charges/Other | to Caleres, | Earnings |
| *($ thousands, except per share data)* | Items | Inc. | Per Share | Items | Inc. | Per Share |
| GAAP earnings  |  | $(22734) | $(0.70) |  | $4930 | $0.15 |
| <u>Charges/other items:</u> |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs | $13192 | 9815 | 0.30 | $— |  |  |
| Expense reduction initiatives | 2237 | 1661 | 0.05 |  |  |  |
| Organizational changes | 1973 | 1465 | 0.05 |  |  |  |
| Gain on sale of corporate headquarters | (2551) | (1894) | (0.06) |  |  |  |
| Exit of Naturalizer retail store operations |  |  |  | 4216 | 3131 | 0.09 |
| Pension settlement cost |  |  |  | 2716 | 2017 | 0.06 |
| Restructuring costs |  |  |  | 1359 | 1009 | 0.03 |
| Total charges/other items | $14851 | $11047 | $0.34 | $8291 | $6157 | $0.18 |
| Adjusted earnings |  | $(11687) | $(0.36) |  | $11087 | $0.33 |
| <u>Stuart Weitzman</u> |  |  |  |  |  |  |
| Stuart Weitzman impact <sup>(1)</sup> | $(13535) | $(9738) | $(0.30) | $— | $— | $— |
| Adjusted earnings, excluding Stuart Weitzman |  | $(1949) | $(0.06) |  | $11087 | $0.33 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | January 31, 2026 | January 31, 2026 | January 31, 2026 | February 1, 2025 | February 1, 2025 | February 1, 2025 |
|  | Pre-Tax | Net (Loss) Earnings |  | Pre-Tax | Net Earnings |  |
|  | Impact of | Attributable | Diluted | Impact of | Attributable | Diluted |
|  | Charges/Other | to Caleres, | Earnings | Charges/Other | to Caleres, | Earnings |
| *($ thousands, except per share data)* | Items | Inc. | Per Share | Items | Inc. | Per Share |
| GAAP earnings  |  | $(6692) | $(0.21) |  | $107255 | $3.09 |
| <u>Charges/other items:</u> |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs | $27571 | 20497 | 0.62 | $— |  |  |
| Expense reduction initiatives | 9615 | 7140 | 0.22 |  |  |  |
| Organizational changes | 1973 | 1465 | 0.04 |  |  |  |
| Gain on sale of corporate headquarters | (2551) | (1894) | (0.06) |  |  |  |
| Exit of Naturalizer retail store operations |  |  |  | 4216 | 3131 | 0.09 |
| Pension settlement cost |  |  |  | 2716 | 2017 | 0.06 |
| Restructuring costs |  |  |  | 2951 | 2192 | 0.06 |
| Total charges/other items | $36608 | $27208 | $0.82 | $9883 | $7340 | $0.21 |
| Adjusted earnings  |  | $20516 | $0.61 |  | $114595 | $3.30 |
| <u>Stuart Weitzman</u> |  |  |  |  |  |  |
| Stuart Weitzman impact <sup>(1)</sup> | $(26265) | $(19683) | $(0.58) | $— | $— | $— |
| Adjusted earnings, excluding Stuart Weitzman |  | $40199 | $1.19 |  | $114595 | $3.30 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Represents the pre-tax impact, net loss and diluted loss per share of Stuart Weitzman, adjusted for Stuart Weitzman acquisition and integration costs and $1.4 million and $3.0 million of estimated interest on additional borrowings on the revolving credit agreement for the thirteen and fifty-two weeks, respectively, at an estimated statutory tax rate.

------

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| |
|:---|
| **SCHEDULE 5** |
| **CALERES, INC.** |
| **SUMMARY FINANCIAL RESULTS BY SEGMENT** |
| **SUMMARY FINANCIAL RESULTS** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  |
|  | Famous Footwear | Famous Footwear | Brand Portfolio | Brand Portfolio | Eliminations and Other | Eliminations and Other | Consolidated | Consolidated |
|  | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, |
| *($ thousands)* | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
| Net sales  | $354030 | $358351 | $361249 | $300318 | $(20217) | $(19443) | $695062 | $639226 |
| Net sales, excluding Stuart Weitzman <sup>(1)</sup> | 354030 | 358351 | 304903 | 300318 | (20217) | (19443) | 638716 | 639226 |
| Gross profit | 150496 | 152461 | 142144 | 125040 | (2300) | (2393) | 290340 | 275108 |
| Adjusted gross profit | 150496 | 152461 | 150193 | 125040 | (2300) | (2393) | 298389 | 275108 |
| Adjusted gross profit, excluding Stuart Weitzman | 150496 | 152461 | 123079 | 125040 | (2300) | (2393) | 271275 | 275108 |
| Gross margin | 42.5% | 42.5% | 39.3% | 41.6% | 11.4% | 12.3% | 41.8% | 44.1% |
| Adjusted gross margin | 42.5% | 42.5% | 41.6% | 41.6% | 11.4% | 12.3% | 42.9% | 44.1% |
| Adjusted gross margin, excluding Stuart Weitzman | 42.5% | 42.5% | 40.4% | 41.6% | 11.4% | 12.3% | 42.5% | 44.1% |
| Operating earnings (loss) | 2955 | 6267 | (2892) | 23026 | (26536) | (21423) | (26473) | 7870 |
| Adjusted operating earnings (loss) | 2955 | 6713 | 8730 | 28277 | (23307) | (21546) | (11622) | 13444 |
| Adjusted operating earnings (loss), excluding Stuart Weitzman | 2955 | 6713 | 20840 | 28277 | (23307) | (21546) | 488 | 13444 |
| Operating margin | 0.8% | 1.7% | (0.8)% | 7.7% | n/m% | n/m% | (3.8)% | 1.2% |
| Adjusted operating margin | 0.8% | 1.9% | 2.4% | 9.4% | n/m% | n/m% | (1.7)% | 0.2% |
| Adjusted operating margin, excluding Stuart Weitzman | 0.8% | 1.9% | 6.8% | 9.4% | n/m% | n/m% | 0.1% | 2.1% |
| Comparable sales % (on a 13-week basis) | 0.1% | (2.9)% | —% | —% | —% | —% | —% | —% |
| Company-operated stores, end of period | 821 | 846 | 188 | 114 |  |  | 1009 | 960 |

---

n/m – Not meaningful

&nbsp;&nbsp;&nbsp;&nbsp;(1) Stuart Weitzman net sales were $56.3 million and $102.2 million in the thirteen and fifty-two weeks ended January 31, 2026, respectively.

------

---

| |
|:---|
| **SCHEDULE 5** |
| **CALERES, INC.** |
| **SUMMARY FINANCIAL RESULTS BY SEGMENT** |

---

**RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)**<br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  | Thirteen Weeks Ended  |
|  | Famous Footwear | Famous Footwear | Brand Portfolio | Brand Portfolio | Eliminations and Other | Eliminations and Other | Consolidated | Consolidated |
|  | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, |
| *($ thousands)* | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
| Gross profit | $150496 | $152461 | $142144 | $125040 | $(2300) | $(2393) | $290340 | $275108 |
| <u>Charges/Other Items:</u> |  |  |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs |  |  | 8049 |  |  |  | 8049 |  |
| Total charges/other items |  |  | 8049 |  |  |  | 8049 |  |
| Adjusted gross profit | $150496 | $152461 | $150193 | $125040 | $(2300) | $(2393) | $298389 | $275108 |
| <u>Stuart Weitzman</u>  |  |  |  |  |  |  |  |  |
| Stuart Weitzman gross profit |  |  | 27114 |  |  |  | 27114 |  |
| Adjusted gross profit, excluding Stuart Weitzman | $150496 | $152461 | $123079 | $125040 | $(2300) | $(2393) | $271275 | $275108 |
| Operating earnings (loss) | $2955 | $6267 | $(2892) | $23026 | $(26536) | $(21423) | $(26473) | $7870 |
| <u>Charges/Other Items:</u> |  |  |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs |  |  | 11509 |  | 1683 |  | 13192 |  |
| Expense reduction initiatives |  |  | 113 |  | 2124 |  | 2237 |  |
| Organizational changes |  |  |  |  | 1973 |  | 1973 |  |
| Gain on sale of corporate headquarters |  |  |  |  | (2551) |  | (2551) |  |
| Exit of Naturalizer retail store operations |  |  |  | 4216 |  |  |  | 4216 |
| Restructuring costs |  | 446 |  | 1035 |  | (123) |  | 1358 |
| Total charges/other items |  | 446 | 11622 | 5251 | 3229 | (123) | 14851 | 5574 |
| Adjusted operating earnings (loss) | $2955 | $6713 | $8730 | $28277 | $(23307) | $(21546) | $(11622) | $13444 |
| <u>Stuart Weitzman</u>  |  |  |  |  |  |  |  |  |
| Stuart Weitzman operating loss <sup>(2)</sup> |  |  | (12110) |  |  |  | (12110) |  |
| Adjusted operating earnings (loss), excluding Stuart Weitzman | $2955 | $6713 | $20840 | $28277 | $(23307) | $(21546) | $488 | $13444 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(2) Represents the operating loss of Stuart Weitzman, adjusted for Stuart Weitzman acquisition and integration costs.

------

---

| |
|:---|
| **SCHEDULE 5** |
| **CALERES, INC.** |
| **SUMMARY FINANCIAL RESULTS BY SEGMENT** |
| **SUMMARY FINANCIAL RESULTS** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | Famous Footwear | Famous Footwear | Brand Portfolio | Brand Portfolio | Eliminations and Other | Eliminations and Other | Consolidated | Consolidated |
|  | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, |
| *($ thousands)* | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
| Net sales | $1500050 | $1556456 | $1315976 | $1225963 | $(58172) | $(59736) | $2757854 | $2722683 |
| Net sales, excluding Stuart Weitzman <sup>(1)</sup> | 1500050 | 1556456 | 1213804 | 1225963 | (58172) | (59736) | 2655682 | 2722683 |
| Gross profit | 647977 | 686627 | 537204 | 536295 | (403) | (880) | 1184778 | 1222042 |
| Adjusted gross profit | 647977 | 686627 | 552921 | 536295 | (403) | (880) | 1200495 | 1222042 |
| Adjusted gross profit, excluding Stuart Weitzman | 647977 | 686627 | 504690 | 536295 | (403) | (880) | 1152264 | 1222042 |
| Gross margin | 43.2% | 44.1% | 40.8% | 43.7% | 0.7% | 1.5% | 43.0% | 44.9% |
| Adjusted gross margin | 43.2% | 44.1% | 42.0% | 43.7% | 0.7% | 1.5% | 43.5% | 44.9% |
| Adjusted gross margin, excluding Stuart Weitzman | 43.2% | 44.1% | 41.6% | 43.7% | 0.7% | 1.5% | 43.4% | 44.9% |
| Operating earnings (loss) | 47203 | 87076 | 32289 | 122122 | (73120) | (59342) | 6372 | 149856 |
| Adjusted operating earnings (loss) | 47476 | 87715 | 54556 | 128465 | (59052) | (59157) | 42980 | 157023 |
| Adjusted operating earnings (loss), excluding Stuart Weitzman | 47476 | 87715 | 77841 | 128465 | (59052) | (59157) | 66265 | 157023 |
| Operating margin | 3.1% | 5.6% | 2.5% | 10.0% | n/m% | n/m% | 0.2% | 5.5% |
| Adjusted operating margin | 3.2% | 5.6% | 4.1% | 10.5% | n/m% | n/m% | 1.6% | 5.8% |
| Adjusted operating margin, excluding Stuart Weitzman | 3.2% | 5.6% | 6.4% | 10.5% | n/m% | n/m% | 2.5% | 5.8% |
| Comparable sales % (on a 52-week basis) | (2.3)% | (1.3)% | —% | —% | —% | —% | —% | —% |
| Company-operated stores, end of period | 821 | 846 | 188 | 114 |  |  | 1009 | 960 |

---

n/m – Not meaningful

------

---

| |
|:---|
| **SCHEDULE 5** |
| **CALERES, INC.** |
| **SUMMARY FINANCIAL RESULTS BY SEGMENT** |

---

**RECONCILIATION OF ADJUSTED RESULTS (NON-GAAP)**<br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | Famous Footwear | Famous Footwear | Brand Portfolio | Brand Portfolio | Eliminations and Other | Eliminations and Other | Consolidated | Consolidated |
|  | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, | January 31, | February 1, |
| *($ thousands)* | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 |
| Gross profit | $647977 | $686627 | $537204 | $536295 | $(403) | $(880) | $1184778 | $1222042 |
| <u>Charges/Other Items:</u> |  |  |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs |  |  | 15717 |  |  |  | 15717 |  |
| Total charges/other items |  |  | 15717 |  |  |  | 15717 |  |
| Adjusted gross profit | $647977 | $686627 | $552921 | $536295 | $(403) | $(880) | $1200495 | $1222042 |
| <u>Stuart Weitzman</u>  |  |  |  |  |  |  |  |  |
| Stuart Weitzman gross profit |  |  | 48231 |  |  |  | 48231 |  |
| Adjusted gross profit, excluding Stuart Weitzman | $647977 | $686627 | $504690 | $536295 | $(403) | $(880) | $1152264 | $1222042 |
| Operating earnings (loss) | $47203 | $87076 | $32289 | $122122 | $(73120) | $(59342) | $6372 | $149856 |
| <u>Charges/Other Items:</u> |  |  |  |  |  |  |  |  |
| Stuart Weitzman acquisition and integration costs |  |  | 19528 |  | 8043 |  | 27571 |  |
| Expense reduction initiatives | 273 |  | 2739 |  | 6603 |  | 9615 |  |
| Organizational changes |  |  |  |  | 1973 |  | 1973 |  |
| Gain on sale of corporate headquarters |  |  |  |  | (2551) |  | (2551) |  |
| Exit of Naturalizer retail store operations |  |  |  | 4216 |  |  |  | 4216 |
| Restructuring costs |  | 639 |  | 2127 |  | 185 |  | 2951 |
| Total charges/other items | 273 | 639 | 22267 | 6343 | 14068 | 185 | 36608 | 7167 |
| Adjusted operating earnings (loss) | $47476 | $87715 | $54556 | $128465 | $(59052) | $(59157) | $42980 | $157023 |
| <u>Stuart Weitzman</u>  |  |  |  |  |  |  |  |  |
| Stuart Weitzman operating loss <sup>(2)</sup> |  |  | (23285) |  |  |  | (23285) |  |
| Adjusted operating earnings (loss), excluding Stuart Weitzman | $47476 | $87715 | $77841 | $128465 | $(59052) | $(59157) | $66265 | $157023 |

---

------

---

| |
|:---|
| **SCHEDULE 6** |
| **CALERES, INC.** |
| **BASIC AND DILUTED EARNINGS PER SHARE RECONCILIATION** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended | Thirteen Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | January 31, 2026 | February 1, 2025 | January 31, 2026 | February 1, 2025 |
| *($ thousands, except per share data)* |  |  |  |  |
| Net (loss) earnings attributable to Caleres, Inc.: |  |  |  |  |
| Net (loss) earnings  | $(24317) | $3907 | $(9877) | $106097 |
| Net loss attributable to noncontrolling interests | 1583 | 1023 | 3185 | 1158 |
| Net (loss) earnings attributable to Caleres, Inc. | (22734) | 4930 | (6692) | 107255 |
| Net earnings allocated to participating securities |  | (165) |  | (3839) |
| Net (loss) earnings attributable to Caleres, Inc. after allocation of earnings to participating securities | $(22734) | $4765 | $(6692) | $103416 |
| Basic and diluted common shares attributable to Caleres, Inc.: |  |  |  |  |
| Basic common shares | 32536 | 32477 | 32518 | 33397 |
| Dilutive effect of share-based awards |  | 147 |  | 116 |
| Diluted common shares attributable to Caleres, Inc. | 32536 | 32624 | 32518 | 33513 |
| Basic (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.70) | $0.15 | $(0.21) | $3.10 |
| Diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.70) | $0.15 | $(0.21) | $3.09 |

---

------

---

| |
|:---|
| **SCHEDULE 7** |
| **CALERES, INC.** |
| **BASIC AND DILUTED ADJUSTED EARNINGS PER SHARE RECONCILIATION** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended | Thirteen Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | January 31, 2026 | February 1, 2025 | January 31, 2026 | February 1, 2025 |
| *($ thousands, except per share data)* |  |  |  |  |
| Adjusted net (loss) earnings attributable to Caleres, Inc.: |  |  |  |  |
| Adjusted net (loss) earnings | $(13270) | $10064 | $17331 | $113437 |
| Net loss attributable to noncontrolling interests | 1583 | 1023 | 3185 | 1158 |
| Adjusted net (loss) earnings attributable to Caleres, Inc. | (11687) | 11087 | 20516 | 114595 |
| Net earnings allocated to participating securities |  | (377) | (752) | (4106) |
| Adjusted net (loss) earnings attributable to Caleres, Inc. after allocation of earnings to participating securities | $(11687) | $10710 | $19764 | $110489 |
| Basic and diluted common shares attributable to Caleres, Inc.: |  |  |  |  |
| Basic common shares | 32536 | 32477 | 32518 | 33397 |
| Dilutive effect of share-based awards |  | 147 |  | 116 |
| Diluted common shares attributable to Caleres, Inc. | 32536 | 32624 | 32518 | 33513 |
| Basic adjusted (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.36) | $0.33 | $0.61 | $3.31 |
| Diluted adjusted (loss) earnings per common share attributable to Caleres, Inc. shareholders | $(0.36) | $0.33 | $0.61 | $3.30 |

---

------

---

| |
|:---|
| **SCHEDULE 8** |
| **CALERES, INC.** |
| **BASIC AND DILUTED ADJUSTED EARNINGS PER SHARE, EXCLUDING STUART WEITZMAN RECONCILIATION** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | Thirteen Weeks Ended | Thirteen Weeks Ended | Fifty-Two Weeks Ended | Fifty-Two Weeks Ended |
|  | January 31, 2026 | February 1, 2025 | January 31, 2026 | February 1, 2025 |
| *($ thousands, except per share data)* |  |  |  |  |
| Adjusted net (loss) earnings, excluding Stuart Weitzman, attributable to Caleres, Inc.: |  |  |  |  |
| Adjusted net (loss) earnings, excluding Stuart Weitzman  | $(3532) | $10064 | $37014 | $113437 |
| Net loss attributable to noncontrolling interests | 1583 | 1023 | 3185 | 1158 |
| Adjusted net earnings, excluding Stuart Weitzman, attributable to Caleres, Inc. | (1949) | 11087 | 40199 | 114595 |
| Net earnings allocated to participating securities |  | (377) | (1520) | (4106) |
| Adjusted net (loss) earnings, excluding Stuart Weitzman, attributable to Caleres, Inc. after allocation of earnings to participating securities | $(1949) | $10710 | $38679 | $110489 |
| Basic and diluted common shares attributable to Caleres, Inc.: |  |  |  |  |
| Basic common shares | 32536 | 32477 | 32518 | 33397 |
| Dilutive effect of share-based awards |  | 147 |  | 116 |
| Diluted common shares attributable to Caleres, Inc. | 32536 | 32624 | 32518 | 33513 |
| Basic adjusted (loss) earnings per common share, excluding Stuart Weitzman, attributable to Caleres, Inc. shareholders | $(0.06) | $0.33 | $1.19 | $3.31 |
| Diluted adjusted (loss) earnings per common share, excluding Stuart Weitzman, attributable to Caleres, Inc. shareholders | $(0.06) | $0.33 | $1.19 | $3.30 |

---

------

---

| |
|:---|
| **SCHEDULE 9** |
| **CALERES, INC.** |
| **RECONCILIATION OF DILUTED EARNINGS PER SHARE (GAAP BASIS) TO ADJUSTED DILUTED EARNINGS PER SHARE (NON-GAAP BASIS)**  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) |
|  | First Quarter 2026 Guidance | First Quarter 2026 Guidance | Fiscal 2026 Guidance | Fiscal 2026 Guidance |
|  | Low | High | Low | High |
| GAAP diluted earnings per share | $0.21 | $0.26 | $1.31 | $1.61 |
| Stuart Weitzman acquisition and integration costs | 0.04 | 0.04 | 0.04 | 0.04 |
| Adjusted diluted earnings per share | $0.25 | $0.30 | $1.35 | $1.65 |

---

9<br>

**Investor Contact:<br>**<br> Liz Dunn

ldunn@caleres.com

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