Caleres, Inc. (NYSE:CAL) Q4 2018 Earnings Conference Call - Final Transcript

Mar 21, 2019 • 04:30 pm ET


Caleres, Inc. (NYSE:CAL) Q4 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen. My name is Ian, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Fourth Quarter 2018 Caleres Earnings Call. All lines have been placed on mute to prevent any background noise. And after the speakers remarks, there will be a question-and-answer session. (Operator Instructions) Thank you.

I'd now like to turn the call over to Peggy Reilly Tharp. Ma'am, you may begin.

Peggy Reilly Tharp

Thank you. Good afternoon. I'm Peggy Reilly Tharp, Vice President of Investor Relations for Caleres, and I'd like to thank you for joining our fourth quarter 2018 earnings call and webcast. A press release with detailed financial tables and slides are both available at

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 US 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. The company undertakes no obligation to update any information discussed in this call at any time.

Joining the call today are Diane Sullivan, CEO, President and Chairman; and Ken Hannah, Chief Financial Officer.

And I would now like to turn over to Diane Sullivan.

Diane M. Sullivan

Thanks, Peggy, and good afternoon and thanks everyone for joining us today. We have a lot to talk about and I'd like to start by updating you on our strategic progress. Ken, then going to take us through the 2018 financials, and I'll wrap up the call with our outlook for 2019.

2018 was another year of significant strategic progress for us. We continue to build on our strategies to move Caleres forward and to ensure the company can effectively compete and win in this new and changing consumer environment that is -- our vision to be a powerful portfolio of footwear brands and the strategic underpinnings of what makes us Caleres, absolutely remain relevant and unchanged. And a few of our most important accomplishments for 2018 include.

First of all, at Brand Portfolio, we delivered market share gains ahead of the market rate across our top women's brands. And it is worth calling out the performance of Sam Edelman as well as Naturalizer. Sam delivered his best year ever, expanding the brand's reach to even more consumers. The team delivered great product across a broader array of categories and wearing occasions, and also deepened the brand's connection with consumers. Jay and the entire Brand Portfolio team, and specifically the, Naturalizer's team's discipline development sequence and hard work over the past two years really paid off in 2018. So brand once again gain market share and delivered product that was true to the brand, as well as relevant to the consumer.

Secondly, we acquired