Missouri-based footwear giant Caleres has improved its market share despite facing challenges in a different back-to-school period.

Second-quarter results saw a 5.6 per cent uplift in sales year-on-year to $695.5 million. This led to a bottom-line profit of $59.4 million, up from $7 million last year.

But the profit jump was buoyed by $55.6 million in tariff refunds; Caleres is celebrating a market share gain, including a higher share of the women’s footwear sector.

“At Famous Footwear, results were below our expectations, as a later back-to-school season and softness in lifestyle athletic pressured sales and margins,” said Jay Schmidt, president and CEO. 

“Despite the shift in back-to-school, Caleres delivered strong profit improvement and earnings ahead of our guidance. Fashion footwear is clearly seeing breakout momentum – and Caleres’ brands are resonating with consumers.”

Schmidt said the company is quickly adapting to match evolving consumer demand, including an emphasis on fashion.

“We’re operating in an environment that remains dynamic, but our focus is clear. We will capitalize on the strength in our brand portfolio, improve performance at Famous Footwear, and continue rebuilding earnings power,” he added.