Earnings Per Share

9 Months Ended

Nov. 01, 2025

Earnings Per Share

Earnings Per Share

Note 5    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 November 1, 2025 and November 2, 2024:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
($ thousands, except per share amounts)	November 1, 2025		November 2, 2024		November 1, 2025		November 2, 2024
NUMERATOR
Net earnings	$	1,434	$	41,119	$	14,440	$	102,190
Net loss attributable to noncontrolling interests		952		308		1,602		135
Net earnings attributable to Caleres, Inc.	$	2,386	$	41,427	$	16,042	$	102,325
Net earnings allocated to participating securities		(99)		(1,417)		(608)		(3,721)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	2,287	$	40,010	$	15,434	$	98,604
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		32,519		33,435		32,512		33,704
Dilutive effect of share-based awards		125		106		125		106
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		32,644		33,541		32,637		33,810
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	0.07	$	1.20	$	0.47	$	2.93
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	0.07	$	1.19	$	0.47	$	2.92

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 1,522,324 shares under this program during the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively.  The Company repurchased 300,000 shares and 1,938,324 shares under this program during the thirty-nine weeks ended November 1, 2025 and November 2, 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 was due on share repurchases during the thirty-nine weeks ended November 1, 2025 and November 2, 2024.