Overview
- Net sales rose 6.6% to $790.1 million, topping estimates, while direct-to-consumer accounted for about 71% of revenue.
- Adjusted EPS fell to $0.38 from $1.23 a year ago and missed the roughly $0.85 consensus; GAAP EPS was $0.07.
- Shares dropped more than 18% in pre-market trading, with intraday losses recently around 15%.
- Brand Portfolio sales increased 18.8% to $383.7 million, including $45.8 million from Stuart Weitzman, as Famous Footwear declined 2.2% with comps down 1.2%.
- Guidance calls for a Q4 loss on both GAAP and adjusted bases and full-year GAAP loss of $0.13–$0.18 with adjusted EPS of $0.55–$0.60, while management works on integrating Stuart Weitzman, addressing aged inventory, and targeting cost synergies beginning in fiscal 2026.