RESTRUCTURING AND OTHER INITIATIVES	12 Months Ended
Jan. 31, 2026
RESTRUCTURING AND OTHER INITIATIVES
RESTRUCTURING AND OTHER INITIATIVES	5. RESTRUCTURING AND OTHER INITIATIVES Stuart Weitzman Acquisition and Integration Costs As discussed in Note 3 to the consolidated financial statements, on August 4, 2025, the Company completed the previously announced acquisition of Stuart Weitzman from Tapestry, Inc. During 2025, the Company incurred acquisition and integration costs of $12.2 million ($9.1 million on an after-tax basis, or $0.27 per diluted share), primarily related to legal, information technology and other related costs. Of the $12.2 million in charges presented in restructuring and other special charges on the consolidated statement of earnings for 2025, $8.0 million is reflected in the Eliminations and Other Category and $4.2 million is reflected in the Brand Portfolio segment. As of January 31, 2026, reserves of $4.9 million were included in current liabilities on the consolidated balance sheet related to the Stuart Weitzman acquisition, with $3.4 million included in employee compensation and benefits and $1.5 million included in other accrued expenses. Expense Reduction Initiatives During 2025, the Company incurred costs of $9.6 million ($7.1 million on an after-tax basis, or $0.22 per diluted share) in connection with expense reduction initiatives announced in the second quarter of 2025. These charges primarily related to severance and other associated costs. Of the $9.6 million in charges presented in restructuring and other special charges on the consolidated statement of earnings for 2025, $6.6 million is reflected in the Eliminations and Other category, $2.7 million is reflected in the Brand Portfolio segment and $0.3 million is reflected in the Famous Footwear segment. As of January 31, 2026, reserves of $0.8 million were included in other accrued expenses on the consolidated balance sheet. During 2023, the Company incurred costs of $6.1 million ($4.5 million on an after-tax basis, or $0.13 per diluted share) associated with its expense reduction initiatives. The costs were primarily for severance and other costs to integrate the Blowfish Malibu office, showroom and information systems into the St. Louis infrastructure. Of the $6.1 million in charges presented in restructuring and other special charges on the consolidated statements of earnings for 2023, $2.6 million is reflected in the Brand Portfolio segment, $2.1 million is reflected in the Eliminations and Other category and $1.4 million is reflected in the Famous Footwear segment. Gain on Sale of Corporate Headquarters On December 19, 2025, the Company completed the sale of the largest of three parcels comprising its corporate headquarters in Clayton, Missouri. The Company recognized a gain of $2.6 million ($1.9 million on an after-tax basis, or $0.06 per diluted share), which is reflected in restructuring and other special charges in the consolidated statement of earnings within the Eliminations and Other category. Organizational Changes During 2025, the Company incurred $2.0 million ($1.5 million on an after-tax basis, or $0.04 per diluted share) related to organizational changes at its corporate headquarters. These costs were recognized in restructuring and other special charges in the consolidated statement of earnings within the Eliminations and Other category. As of January 31, 2026, reserves of $2.0 million are included in current liabilities on the consolidated balance sheet. Restructuring Costs During 2024, the Company incurred restructuring costs of $9.9 million ($7.3 million on an after-tax basis, or $0.21 per diluted share). The costs were primarily for the exit of the Company’s domestic retail store operations for the Naturalizer brand, severance and pension settlement costs associated with the acceptance of a lump sum buyout offer by certain pension plan participants. Of the $7.2 million in charges presented in restructuring and other special charges on the consolidated statements of earnings in 2024, $6.4 million is reflected in the Brand Portfolio segment, $0.6 million is reflected in the Famous Footwear segment and $0.2 million is reflected within the Eliminations and Other category. The remaining $2.7 million of restructuring costs related to the pension settlement are presented in other (expense) income, net, and reflected in the Eliminations and Other category. As of February 1, 2025, restructuring reserves of $5.5 million were included in current liabilities on the consolidated balance sheet, with $4.0 million included in accounts payable, $1.3 million included in employee compensation and benefits and $0.2 million in other accrued expenses. There were no corresponding reserves as of January 31, 2026.

RESTRUCTURING AND OTHER INITIATIVES

12 Months Ended

Jan. 31, 2026

5. RESTRUCTURING AND OTHER INITIATIVES

Stuart Weitzman Acquisition and Integration Costs

As discussed in Note 3 to the consolidated financial statements, on August 4, 2025, the Company completed the previously announced acquisition of Stuart Weitzman from Tapestry, Inc. During 2025, the Company incurred acquisition and integration costs of $12.2 million ($9.1 million on an after-tax basis, or $0.27 per diluted share), primarily related to legal, information technology and other related costs. Of the $12.2 million in charges presented in restructuring and other special charges on the consolidated statement of earnings for 2025, $8.0 million is reflected in the Eliminations and Other Category and $4.2 million is reflected in the Brand Portfolio segment. As of January 31, 2026, reserves of $4.9 million were included in current liabilities on the consolidated balance sheet related to the Stuart Weitzman acquisition, with $3.4 million included in employee compensation and benefits and $1.5 million included in other accrued expenses.

Expense Reduction Initiatives

During 2025, the Company incurred costs of $9.6 million ($7.1 million on an after-tax basis, or $0.22 per diluted share) in connection with expense reduction initiatives announced in the second quarter of 2025. These charges primarily related to severance and other associated costs. Of the $9.6 million in charges presented in restructuring and other special charges on the consolidated statement of earnings for 2025, $6.6 million is reflected in the Eliminations and Other category, $2.7 million is reflected in the Brand Portfolio segment and $0.3 million is reflected in the Famous Footwear segment. As of January 31, 2026, reserves of $0.8 million were included in other accrued expenses on the consolidated balance sheet.

During 2023, the Company incurred costs of $6.1 million ($4.5 million on an after-tax basis, or $0.13 per diluted share) associated with its expense reduction initiatives. The costs were primarily for severance and other costs to integrate the Blowfish Malibu office, showroom and information systems into the St. Louis infrastructure. Of the $6.1 million in charges presented in restructuring and other special charges on the consolidated statements of earnings for 2023, $2.6 million is reflected in the Brand Portfolio segment, $2.1 million is reflected in the Eliminations and Other category and $1.4 million is reflected in the Famous Footwear segment.

Gain on Sale of Corporate Headquarters

On December 19, 2025, the Company completed the sale of the largest of three parcels comprising its corporate headquarters in Clayton, Missouri. The Company recognized a gain of $2.6 million ($1.9 million on an after-tax basis, or $0.06 per diluted share), which is reflected in restructuring and other special charges in the consolidated statement of earnings within the Eliminations and Other category.

Organizational Changes

During 2025, the Company incurred $2.0 million ($1.5 million on an after-tax basis, or $0.04 per diluted share) related to organizational changes at its corporate headquarters. These costs were recognized in restructuring and other special charges in the consolidated statement of earnings within the Eliminations and Other category. As of January 31, 2026, reserves of $2.0 million are included in current liabilities on the consolidated balance sheet.

Restructuring Costs

During 2024, the Company incurred restructuring costs of $9.9 million ($7.3 million on an after-tax basis, or $0.21 per diluted share). The costs were primarily for the exit of the Company’s domestic retail store operations for the Naturalizer brand, severance and pension settlement costs associated with the acceptance of a lump sum buyout offer by certain pension plan participants. Of the $7.2 million in charges presented in restructuring and other special charges on the consolidated statements of earnings in 2024, $6.4 million is reflected in the Brand Portfolio segment, $0.6 million is reflected in the Famous Footwear segment and $0.2 million is reflected within the Eliminations and Other category. The remaining $2.7 million of restructuring costs related to the pension settlement are presented in other (expense) income, net, and reflected in the Eliminations and Other category. As of February 1, 2025, restructuring reserves of $5.5 million were included in current liabilities on the consolidated balance sheet, with $4.0 million included in accounts payable, $1.3 million included in employee compensation and benefits and $0.2 million in other accrued expenses. There were no corresponding reserves as of January 31, 2026.