Caleres has announced a new long-term strategic plan to build on its unique advantages and capture share in the global footwear market. The company expects this new strategic plan to generate low single-digit compound annual growth rate (CAGR) through 2022; earnings per share in double-digit CAGR; and return on invested capital to be greater than 15 percent through 2022.
“Focused investment in our core competency as builders of loved and trusted footwear brands will allow us to extend the reach of our powerful portfolio no matter where our consumers choose to purchase our products. We are confident that this will create consistent sales and earnings growth and create value for all our stakeholders,” said Diane Sullivan, CEO, President and Chairman of Caleres in a statement.
As a part of its long-term plan, Caleres plans to focus on broadening reach and power of brands and products, strengthen connections with consumers by strengthening its data-driven analytical capabilities and leveraging the company’s marketing expertise to deepen its brands’ emotional connections with consumers and enhance their market position and accelerate innovation of capabilities and operations.