Caleres warns of choppy earnings after Saks Global bankruptcy, names interim CFO

Caleres

21/01/2026 23:21

Jan 21 (Reuters) - Footwear maker Caleres CAL.N on Wednesday warned of potential fourth-quarter earnings volatility linked to the bankruptcy of Saks Global, after it named Dan Karpel as interim chief financial officer.

Saks Global, a high-end department store conglomerate, filed for bankruptcy protection last week barely a year after a deal intended to create a luxury powerhouse brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof.

Caleres, whose Stuart Weitzman brand is sold at stores owned by Saks Global, said the bankruptcy could lead to sales volatility and pose a risk of up to 6 cents per share to its fourth-quarter earnings forecast.

The warning comes as the company said its chief financial officer, Jack Calandra, will step down at the end of the month.

Calandra, who joined Caleres in 2022, has previously held executive roles at apparel makers including Gap, and is leaving to pursue other opportunities.

 (Reporting by Anuja Bharat Mistry in Bengaluru)

 ((AnujaBharat.Mistry@thomsonreuters.com;))