Earnings Per Share

3 Months Ended

May 04, 2024

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 May 4, 2024 and April 29, 2023:

	Thirteen Weeks Ended
($ thousands, except per share amounts)	May 4, 2024		April 29, 2023
NUMERATOR
Net earnings	$	30,798	$	34,792
Net loss (earnings) attributable to noncontrolling interests		141		(65)
Net earnings attributable to Caleres, Inc.	$	30,939	$	34,727
Net earnings allocated to participating securities		(1,208)		(1,478)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	29,731	$	33,249
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		33,793		34,407
Dilutive effect of share-based awards		106		—
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		33,899		34,407
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	0.88	$	0.97
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	0.88	$	0.97

As further discussed in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds, the Company has a publicly announced share repurchase program.  The Company repurchased 416,000 shares under this program during the thirteen weeks ended May 4, 2024.  The Company did not repurchase any shares during the thirteen weeks ended April 29, 2023.  No excise taxes are due on the Company’s share repurchases during the thirteen weeks ended May 4, 2024 under the provisions of the Inflation Reduction Act of 2022.