Achieved $0.88 in earnings per share, exceeding expectations Generated record first quarter consolidated gross margin of 47 percent Reiterates fiscal 2024 outlook of net sales flat to up 2 percent and earnings per share of $4.30 to $4.
60 ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL), a market-leading portfolio of consumer-driven footwear brands, today reported financial results for first quarter 2024 and reaffirmed its guidance for fiscal 2024. Caleres (NYSE: CAL ) began 2024 in strong fashion, achieving earnings per share ahead of expectations, generating record first quarter consolidated gross margin, and making significant progress on our key strategic initiatives, all while investing for the long-term, said Jay Schmidt, president and chief executive officer.
While the consumer demand environment remained challenging, we achieved growth in sales and profitability from our Lead Brands and strong margin performance across the Brand Portfolio. Notably, the segment delivered more than half of the company's operating earnings during the quarter, with a 13 percent operating margin, and is once again expected to lead the financial performance of Caleres this year. At the same time, Famous Footwear maintained total year-over-year sales levels and generated solid gross margins, with sales and market share up significantly in the strategically important Kids category.
Looking ahead, we are confident in our ability to deliver earnings per share in line with our guidance range in 20.