Earnings Per Share

9 Months Ended

Oct. 29, 2022

Earnings Per Share

Earnings Per Share

Note 4    Earnings Per Share

The Company uses the two-class method to compute basic and diluted earnings per common share attributable to Caleres, Inc. shareholders.  In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of

the Company.  The following table sets forth the computation of basic and diluted earnings per common share attributable to Caleres, Inc. shareholders for the periods ended October 29, 2022 and October 30, 2021:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
($ thousands, except per share amounts)	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
NUMERATOR
Net earnings	$	38,992	$	59,685	$	140,529	$	104,222
Net loss (earnings) attributable to noncontrolling interests		254		(63)		404		(1,057)
Net earnings attributable to Caleres, Inc.	$	39,246	$	59,622	$	140,933	$	103,165
Net earnings allocated to participating securities		(1,723)		(2,140)		(5,951)		(3,737)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	37,523	$	57,482	$	134,982	$	99,428
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		34,379		36,889		35,207		36,825
Dilutive effect of share-based awards		507		457		450		294
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		34,886		37,346		35,657		37,119
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	1.09	$	1.56	$	3.83	$	2.70
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	1.08	$	1.54	$	3.79	$	2.68

Options to purchase 16,667 shares of common stock for both the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021 were not included in the denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive.  

During the thirteen and thirty-nine weeks ended October 29, 2022, the Company repurchased 838,025 and 2,622,845 shares, respectively, under the 2019 and 2022 publicly announced share repurchase programs, which permit repurchases of up to 5.0 million and 7.0 million shares, respectively.  The Company did not repurchase any shares under the share repurchase programs during the thirty-nine weeks ended October 30, 2021.  Refer to further discussion in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds.