Earnings Per Share

6 Months Ended

Aug. 02, 2025

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 2, 2025 and August 3, 2024:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
($ thousands, except per share amounts)	August 2, 2025		August 3, 2024		August 2, 2025		August 3, 2024
NUMERATOR
Net earnings	$	7,061	$	30,273	$	13,006	$	61,071
Net (earnings) loss attributable to noncontrolling interests		(348)		(315)		650		(173)
Net earnings attributable to Caleres, Inc.	$	6,713	$	29,958	$	13,656	$	60,898
Net earnings allocated to participating securities		(263)		(1,065)		(502)		(2,278)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	6,450	$	28,893	$	13,154	$	58,620
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		32,494		33,883		32,509		33,838
Dilutive effect of share-based awards		127		106		127		106
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		32,621		33,989		32,636		33,944
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	0.20	$	0.85	$	0.40	$	1.73
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	0.20	$	0.85	$	0.40	$	1.73

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 no shares under this program during the thirteen weeks ended August 2, 2025 and August 3, 2024.  The Company repurchased 300,000 shares and 416,000 shares under this program during the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively.

Under the provisions of the Inflation Reduction Act of 2022 (“Inflation Reduction Act”), a 1% excise tax is imposed on repurchases of common stock beginning on January 1, 2023.  Excise taxes incurred on share repurchases are incremental costs to purchase the stock, and accordingly, are included in the total cost basis of the common stock acquired and reflected as a reduction of shareholders’ equity within retained earnings in the condensed consolidated statements of shareholders’ equity.  An immaterial amount of excise taxes were due on share repurchases during the twenty-six weeks ended August 2, 2025 and August 3, 2024.