“Notably, Famous extended its exceptional performance from 2021, achieving another quarter of strong gross profit margin and generating nearly $50 million in operating earnings, while strategically investing for growth,” said Diane Sullivan, chairman and chief executive officer.

“In addition, our brand portfolio returned to nearly full strength during the first quarter, setting the stage for a significantly improved earnings contribution in 2022. In fact, our strong product design, diverse and targeted assortments, and bold and strategic approach to inventory drove the best-ever quarterly sales and operating earnings performance for the brand portfolio.”

Profit-wise, Caleres said net income surged to $50.5 million, or earnings of $1.32 per diluted share, from net earnings of $6.1 million, or earnings of $0.16 per diluted share in the same quarter last year.

Looking ahead, Caleres raised its fiscal-year 2022 financial outlook. The company now expects consolidated sales levels to be up between 2% and 5% and expects earnings per diluted share to be between $4.20 and $4.40, “representing another year of record or near-record earnings for the organization.”