Laura Champine

Dana Telsey

Christopher Brazeau

Mitch Kummetz

Mitchel Kummetz

Ashley Owens

Chandana Naga Madaka

Joshua Herrity

- Caleres reported that its direct-to-consumer business accounts for over **70%** of revenue, and the Brand Portfolio segment is **45%**.  **[0000014707_2172516_0]**  The company closed the **Stuart Weitzman acquisition in August** and plans to share more details on its sales and margin potential in the Q3 report.  **[0000014707_2172516_0]** **[0000014707_2172516_3]** 
- For Q3, Famous Footwear achieved a **+1% comparable store sales in August**, the largest month of the quarter, but expects comps to be down low single digits in September and October.  **[0000014707_2172516_1]** 
- The Brand Portfolio's Q3 gross margin is anticipated to be down approximately **240 basis points** due to tariffs, with an improved trend expected in Q4 as mitigation actions take effect.  **[0000014707_2172516_1]**  Caleres is also implementing **$15 million in annualized structural cost savings**.  **[0000014707_2172516_0]** **[0000014707_2172516_1]** 
- To address **20-30% tariff increases**, Caleres has reduced China sourcing to below **15%** of dollar receipts in the second half of the year and is employing a multi-pronged strategy including factory concessions, dutyable value adjustments, and selective price increases.  **[0000014707_2172516_0]** **[0000014707_2172516_6]**

CALERES (CAL)