Caleres, Inc. (NYSE:CAL) Q1 2023 Earnings Conference Call June 1, 2023 10:00 AM ET

Company Participants

Logan Bonacorsi - VP, IR

Jay Schmidt - President and CEO

Jack Calandra - SVP and CFO

Conference Call Participants

Abbie Zvejnieks - Piper Sandler

Laura Champine - Loop Capital

Mitch Kummetz - Seaport Research

Dana Telsey - Telsey Advisory Group

Operator

Good morning, welcome to Caleres First Quarter 2023 Earnings Conference Call. My name is Sherry, and I'll be your conference coordinator. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

At this time, I'll turn the conference over to Logan Bonacorsi, Vice President of Investor Relations. Please go ahead.

Logan Bonacorsi

Good morning. Thank you for joining our first quarter 2023 earnings call and webcast. A press release with detailed financial tables, as well as our quarterly slide presentation are available at caleres.com. Please be aware today’s discussion contains forward-looking statements, which are subject to a number of risks and uncertainties. Actual results may differ materially due to various risk factors including but not limited to the factors disclosed in the company’s Form 10-K and other filings with the U.S. Securities and Exchange Commission.

Please refer to today’s press release and our SEC filings for more information on risk factors and other factors, which could impact forward-looking statements. Copies of these reports are available online. In discussing the results of our operation, we will be providing and referring to certain non-GAAP financial measures. You can find additional information regarding these non-GAAP financial measures, as well as other views in today’s earnings release and our presentation on the Investors section of our website. The company undertakes no obligation to update any information discussed on this call at any time.

Joining me on the call today are Jay Schmidt, President and CEO; and Jack Calandra, Senior Vice President and CFO. We will begin this morning’s call with our prepared remarks, and thereafter, we’ll be happy to take your questions.

I would now like to turn the call over to Jay. Jay?

Jay Schmidt

Thank you, Logan, and good morning, everyone. During the first quarter, we leveraged our diversified structure to deliver earnings per share at the top end of our guidance range. Profit contribution from the Brand Portfolio more than offset the challenging operating environment at Famous Footwear. As we said last quarter, the structural changes we've implemented over the last several years have resulted in a much more nimble, productive, and profitable organization.