Earnings Per Share

6 Months Ended

Aug. 03, 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 August 3, 2024 and July 29, 2023:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
($ thousands, except per share amounts)	August 3, 2024		July 29, 2023		August 3, 2024		July 29, 2023
NUMERATOR
Net earnings	$	30,273	$	34,365	$	61,071	$	69,157
Net earnings attributable to noncontrolling interests		(315)		(422)		(173)		(487)
Net earnings attributable to Caleres, Inc.	$	29,958	$	33,943	$	60,898	$	68,670
Net earnings allocated to participating securities		(1,065)		(1,513)		(2,278)		(2,990)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	28,893	$	32,430	$	58,620	$	65,680
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		33,883		34,280		33,838		34,343
Dilutive effect of share-based awards		106		—		106		—
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		33,989		34,280		33,944		34,343
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	0.85	$	0.95	$	1.73	$	1.91
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	0.85	$	0.95	$	1.73	$	1.91

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 zero and 416,000 shares under this program during the thirteen and twenty-six weeks ended August 3, 2024, respectively.  During the thirteen and twenty-six weeks ended July 29, 2023 the Company repurchased 763,000 shares under the program.  Under the provisions of the Inflation Reduction Act of 2022, an immaterial amount of excise taxes are due on the Company’s share repurchases during the twenty-six weeks ended August 3, 2024 or July 29, 2023.