Financial Information for the Company and its Subsidiaries (Tables)

12 Months Ended

Feb. 02, 2019

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule of Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 2, 2019
					Non-Guarantors
($ thousands)	Parent		Guarantors					Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	2	$	9,148	$	21,050		$	—		$	30,200
Receivables, net	130,684		32,319		28,719			—			191,722
Inventories, net	175,697		470,610		36,864			—			683,171
Prepaid expenses and other current assets	31,195		32,556		7,603			—			71,354
Intercompany receivable - current	190		42		15,279			(15,511		)	—
Total current assets	337,768		544,675		109,515			(15,511		)	976,447
Property and equipment, net	62,608		157,270		10,906			—			230,784
Goodwill and intangible assets, net	108,884		331,810		109,203			—			549,897
Other assets	68,707		11,824		909			—			81,440
Investment in subsidiaries	1,499,209		—		(24,838		)	(1,474,371		)	—
Intercompany receivable - noncurrent	597,515		578,821		762,281			(1,938,617		)	—
Total assets	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement	$	335,000	$	—	$	—		$	—		$	335,000
Trade accounts payable	146,400		130,670		39,228			—			316,298
Other accrued expenses	95,498		86,015		20,525			—			202,038
Intercompany payable - current	10,781		—		4,730			(15,511		)	—
Total current liabilities	587,679		216,685		64,483			(15,511		)	853,336
Other liabilities:
Long-term debt	197,932		—		—			—			197,932
Other liabilities	105,689		41,149		5,027			—			151,865
Intercompany payable - noncurrent	1,149,338		115,114		674,165			(1,938,617		)	—
Total other liabilities	1,452,959		156,263		679,192			(1,938,617		)	349,797
Equity:
Caleres, Inc. shareholders’ equity	634,053		1,251,452		222,919			(1,474,371		)	634,053
Noncontrolling interests	—		—		1,382			—			1,382
Total equity	634,053		1,251,452		224,301			(1,474,371		)	635,435
Total liabilities and equity	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 3, 2018
					Non- Guarantors
($ thousands)	Parent		Guarantors					Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	26,089	$	—	$	37,958		$	—		$	64,047
Receivables, net	124,957		3,663		23,993			—			152,613
Inventories, net	146,068		394,438		28,873			—			569,379
Prepaid expenses and other current assets	26,284		30,456		8,394			(4,384		)	60,750
Intercompany receivable - current	521		74		9,250			(9,845		)	—
Total current assets	323,919		428,631		108,468			(14,229		)	846,789
Property and equipment, net	35,474		165,227		12,098			—			212,799
Goodwill and intangible assets, net	111,108		40,937		187,123			—			339,168
Other assets	76,317		13,610		732			—			90,659
Investment in subsidiaries	1,329,428		—		(23,565		)	(1,305,863		)	—
Intercompany receivable - noncurrent	774,588		520,362		704,810			(1,999,760		)	—
Total assets	$	2,650,834	$	1,168,767	$	989,666		$	(3,319,852	)	$	1,489,415
Liabilities and Equity
Current liabilities:
Trade accounts payable	136,797		102,420		33,745			—			272,962
Other accrued expenses	65,817		74,006		21,758			(4,384		)	157,197
Intercompany payable - current	5,524		—		4,321			(9,845		)	—
Total current liabilities	208,138		176,426		59,824			(14,229		)	430,159
Other liabilities:
Long-term debt	197,472		—		—			—			197,472
Other liabilities	101,784		35,574		5,464			—			142,822
Intercompany payable - noncurrent	1,425,951		98,610		475,199			(1,999,760		)	—
Total other liabilities	1,725,207		134,184		480,663			(1,999,760		)	340,294
Equity:
Caleres, Inc. shareholders’ equity	717,489		858,157		447,706			(1,305,863		)	717,489
Noncontrolling interests	—		—		1,473			—			1,473
Total equity	717,489		858,157		449,179			(1,305,863		)	718,962
Total liabilities and equity	$	2,650,834	$	1,168,767	$	989,666		$	(3,319,852	)	$	1,489,415

Schedule of Condensed Consolidating Statements of Earnings

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (LOSS)
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2019
($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Net sales	$	888,234		$	1,975,219		$	237,607		$	(266,214	)	$	2,834,846
Cost of goods sold	619,120			1,157,558			124,037			(222,213		)	1,678,502
Gross profit	269,114			817,661			113,570			(44,001		)	1,156,344
Selling and administrative expenses	267,584			760,754			57,428			(44,001		)	1,041,765
Impairment of goodwill and intangible assets	—			—			98,044			—			98,044
Restructuring and other special charges, net	9,734			6,400			—			—			16,134
Operating (loss) earnings	(8,204		)	50,507			(41,902		)	—			401
Interest (expense) income	(19,048		)	(25		)	796			—			(18,277		)
Loss on early extinguishment of debt	(186		)	—			—			—			(186		)
Other income (expense)	12,408			—			(100		)	—			12,308
Intercompany interest income (expense)	11,436			(11,494		)	58			—			—
(Loss) earnings before income taxes	(3,594		)	38,988			(41,148		)	—			(5,754		)
Income tax benefit (provision)	1,687			(7,719		)	6,305			—			273
Equity in loss of subsidiaries, net of tax	(3,534		)	—			(1,275		)	4,809			—
Net (loss) earnings	(5,441		)	31,269			(36,118		)	4,809			(5,481		)
Less: Net loss attributable to noncontrolling interests	—			—			(40		)	—			(40		)
Net (loss) earnings attributable to Caleres, Inc.	$	(5,441	)	$	31,269		$	(36,078	)	$	4,809		$	(5,441	)

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations			Total
Net sales	$	837,849		$	1,935,265		$	211,815		$	(199,345	)	$	2,785,584
Cost of goods sold	580,038			1,090,354			109,104			(162,561		)	1,616,935
Gross profit	257,811			844,911			102,711			(36,784		)	1,168,649
Selling and administrative expenses	246,208			771,027			55,600			(36,784		)	1,036,051
Restructuring and other special charges, net	3,942			756			217			—			4,915
Operating earnings	7,661			73,128			46,894			—			127,683
Interest (expense) income	(17,743		)	(14		)	432			—			(17,325		)
Other income	12,348			—			—			—			12,348
Intercompany interest income (expense)	8,354			(8,813		)	459			—			—
Earnings before income taxes	10,620			64,301			47,785			—			122,706
Income tax provision	(24,963		)	(175		)	(10,337		)	—			(35,475		)
Equity in earnings (loss) of subsidiaries, net of tax	101,543			—			(1,619		)	(99,924		)	—
Net earnings	87,200			64,126			35,829			(99,924		)	87,231
Less: Net earnings attributable to noncontrolling interests	—			—			31			—			31
Net earnings attributable to Caleres, Inc.	$	87,200		$	64,126		$	35,798		$	(99,924	)	$	87,200

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations			Total
Net sales	$	825,654		$	1,692,093		$	227,557		$	(165,916	)	$	2,579,388
Cost of goods sold	583,131			938,169			129,410			(133,313		)	1,517,397
Gross profit	242,523			753,924			98,147			(32,603		)	1,061,991
Selling and administrative expenses	227,149			690,292			57,757			(32,603		)	942,595
Restructuring and other special charges, net	15,333			433			7,638			—			23,404
Operating earnings	41			63,199			32,752			—			95,992
Interest (expense) income	(14,291		)	(9		)	569			—			(13,731		)
Other income	14,993			—			—			—			14,993
Intercompany interest income (expense)	8,888			(9,033		)	145			—			—
Earnings before income taxes	9,631			54,157			33,466			—			97,254
Income tax provision	(5,075		)	(20,084		)	(6,009		)	—			(31,168		)
Equity in earnings (loss) of subsidiaries, net of tax	61,102			—			(2,422		)	(58,680		)	—
Net earnings	65,658			34,073			25,035			(58,680		)	66,086
Less: Net earnings attributable to noncontrolling interests	—			—			428			—			428
Net earnings attributable to Caleres, Inc.	$	65,658		$	34,073		$	24,607		$	(58,680	)	$	65,658

Schedule of Condensed Consolidating Statements of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2019
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net (loss) earnings	$	(5,441	)	$	31,269		$	(36,118	)	$	4,809	$	(5,481	)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	—			—			(1,224		)	—		(1,224		)
Pension and other postretirement benefits adjustments	(13,663		)	—			(220		)	—		(13,883		)
Derivative financial instruments	(1,967		)	(38		)	630			—		(1,375		)
Other comprehensive loss from investment in subsidiaries	(801		)	—			—			801		—
Other comprehensive loss, net of tax	(16,431		)	(38		)	(814		)	801		(16,482		)
Comprehensive (loss) income	(21,872		)	31,231			(36,932		)	5,610		(21,963		)
Comprehensive loss attributable to noncontrolling interests	—			—			(91		)	—		(91		)
Comprehensive (loss) income attributable to Caleres, Inc.	$	(21,872	)	$	31,231		$	(36,841	)	$	5,610	$	(21,872	)

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
					Non-Guarantors
($ thousands)	Parent		Guarantors					Eliminations			Total
Net earnings	$	87,200	$	64,126	$	35,829		$	(99,924	)	$	87,231
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	—		—		1,116			—			1,116
Pension and other postretirement benefits adjustments	18,855		—		(61		)	—			18,794
Derivative financial instruments	1,539		14		(452		)	—			1,101
Other comprehensive income from investment in subsidiaries	544		—		—			(544		)	—
Other comprehensive income, net of tax	20,938		14		603			(544		)	21,011
Comprehensive income	108,138		64,140		36,432			(100,468		)	108,242
Comprehensive income attributable to noncontrolling interests	—		—		104			—			104
Comprehensive income attributable to Caleres, Inc.	$	108,138	$	64,140	$	36,328		$	(100,468	)	$	108,138

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
						Non-Guarantors
($ thousands)	Parent			Guarantors					Eliminations			Total
Net earnings	$	65,658		$	34,073	$	25,035		$	(58,680	)	$	66,086
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	—			—		1,045			—			1,045
Pension and other postretirement benefits adjustments	(24,790		)	—		62			—			(24,728		)
Derivative financial instruments	181			—		(1,115		)	—			(934		)
Other comprehensive income from investment in subsidiaries	39			—		—			(39		)	—
Other comprehensive loss, net of tax	(24,570		)	—		(8		)	(39		)	(24,617		)
Comprehensive income	41,088			34,073		25,027			(58,719		)	41,469
Comprehensive income attributable to noncontrolling interests	—			—		381			—			381
Comprehensive income attributable to Caleres, Inc.	$	41,088		$	34,073	$	24,646		$	(58,719	)	$	41,088

Schedule of Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2019
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash provided by operating activities	$	21,220		$	84,546		$	23,823		$	—	$	129,589
Investing activities
Purchases of property and equipment	(34,583		)	(25,871		)	(2,029		)	—		(62,483		)
Capitalized software	(3,962		)	(454		)	—			—		(4,416		)
Acquisition of Blowfish Malibu, net of cash received	(16,792		)	—			—			—		(16,792		)
Acquisition of Vionic, net of cash received	(352,666		)	—			—			—		(352,666		)
Intercompany investing	(137		)	137			—			—		—
Net cash (used for) provided by investing activities	(408,140		)	(26,188		)	(2,029		)	—		(436,357		)
Financing activities
Borrowings under revolving credit agreement	360,000			—			—			—		360,000
Repayments under revolving credit agreement	(25,000		)	—			—			—		(25,000		)
Repayments of capital lease obligation	—			(406		)	—			—		(406		)
Dividends paid	(11,983		)	—			—			—		(11,983		)
Debt issuance costs	(1,298		)	—			—			—		(1,298		)
Acquisition of treasury stock	(43,771		)	—			—			—		(43,771		)
Issuance of common stock under share-based plans, net	(4,372		)	—			—			—		(4,372		)
Intercompany financing	87,257			(48,804		)	(38,453		)	—		—
Net cash (used for) provided by financing activities	360,833			(49,210		)	(38,453		)	—		273,170
Effect of exchange rate changes on cash and cash equivalents	—			—			(249		)	—		(249		)
Increase (decrease) in cash and cash equivalents	(26,087		)	9,148			(16,908		)	—		(33,847		)
Cash and cash equivalents at beginning of year	26,089			—			37,958			—		64,047
Cash and cash equivalents at end of year	$	2		$	9,148		$	21,050		$	—	$	30,200

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash provided by operating activities	$	40,601		$	90,745		$	60,029		$	—	$	191,375
Investing activities
Purchases of property and equipment	(9,522		)	(31,159		)	(4,039		)	—		(44,720		)
Capitalized software	(5,950		)	(483		)	(25		)	—		(6,458		)
Intercompany investing	(20,224		)	197,929			(177,705		)	—		—
Net cash (used for) provided by investing activities	(35,696		)	166,287			(181,769		)	—		(51,178		)
Financing activities
Borrowings under revolving credit agreement	454,000			—			—			—		454,000
Repayments under revolving credit agreement	(564,000		)	—			—			—		(564,000		)
Dividends paid	(12,027		)	—			—			—		(12,027		)
Acquisition of treasury stock	(5,993		)	—			—			—		(5,993		)
Issuance of common stock under share-based plans, net	(3,816		)	—			—			—		(3,816		)
Intercompany financing	129,021			(266,061		)	137,040			—		—
Net cash (used for) provided by financing activities	(2,815		)	(266,061		)	137,040			—		(131,836		)
Effect of exchange rate changes on cash and cash equivalents	—			—			354			—		354
Increase (decrease) in cash and cash equivalents	2,090			(9,029		)	15,654			—		8,715
Cash and cash equivalents at beginning of year	23,999			9,029			22,304			—		55,332
Cash and cash equivalents at end of year	$	26,089		$	—		$	37,958		$	—	$	64,047

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash provided by operating activities	$	66,800		$	71,781		$	45,041		$	—	$	183,622
Investing activities
Purchases of property and equipment	(4,769		)	(41,606		)	(4,148		)	—		(50,523		)
Capitalized software	(5,521		)	(3,481		)	(37		)	—		(9,039		)
Acquisition cost, net of cash received	(259,932		)	—			—			—		(259,932		)
Intercompany investing	(3,257		)	3,257			—			—		—
Net cash used for investing activities	(273,479		)	(41,830		)	(4,185		)	—		(319,494		)
Financing activities
Borrowings under revolving credit agreement	623,000			—			—			—		623,000
Repayments under revolving credit agreement	(513,000		)	—			—			—		(513,000		)
Dividends paid	(12,104		)	—			—			—		(12,104		)
Acquisition of treasury stock	(23,139		)	—			—			—		(23,139		)
Issuance of common stock under share-based plans, net	(4,188		)	—			—			—		(4,188		)
Excess tax benefit related to share-based plans	2,251			—			—			—		2,251
Intercompany financing	126,858			(20,922		)	(105,936		)	—		—
Net cash provided by (used for) financing activities	199,678			(20,922		)	(105,936		)	—		72,820
Effect of exchange rate changes on cash and cash equivalents	—			—			233			—		233
(Decrease) increase in cash and cash equivalents	(7,001		)	9,029			(64,847		)	—		(62,819		)
Cash and cash equivalents at beginning of year	31,000			—			87,151			—		118,151
Cash and cash equivalents at end of year	$	23,999		$	9,029		$	22,304		$	—	$	55,332