Financial Analysis

3. ACQUISITION On February 16, 2025, the Company entered into a Sale and Purchase Agreement with Tapestry, Inc. (Tapestry) to acquire the Stuart Weitzman business (the Acquisition). On August 4, 2025, the Company completed the Acquisition pursuant to the terms and conditions of that Sale and Purchase Agreement, as amended. The aggregate purchase price for the Acquisition was $108.9 million, net of the cash received at the closing. The purchase price is subject to final adjustments for net working capital. Stuart Weitzman, which includes both wholesale and direct-to-consumer channels, has been an iconic global luxury womens footwear brand for over 35 years . The Acquisition strengthens the Companys position in the global footwear market and adds an iconic name in luxury footwear to the Brand Portfolio segment. Stuart Weitzman maintains a strong presence in North America, Europe and Asia across both wholesale and direct-to-consumer channels. The acquisition was funded with borrowings from the revolving credit agreement. Preliminary Purchase Price Allocation The acquisition was accounted for in accordance with ASC Topic 805, Business Combinations . Accordingly, the assets and liabilities of Stuart Weitzman were recorded at their estimated fair values, and the excess of the purchase price over the fair value of the assets acquired and liabilities assumed, including identified intangible assets, was recorded as goodwill. The following table summarizes the Companys preliminary allo …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

17. COMMITMENTS AND CONTINGENCIES Environmental Remediation Prior operations included numerous manufacturing and other facilities for which the Company may have responsibility under various environmental laws for the remediation of conditions that may be identified in the future. The Company is involved in environmental remediation and ongoing compliance activities at several sites and has been notified that it is or may be a potentially responsible party at several other sites. Redfield The Company is remediating, under the oversight of Colorado authorities, the groundwater and indoor air at its owned facility in Colorado (the Redfield site or, when referring to remediation activities at or under the facility, the on-site remediation) and residential neighborhoods adjacent to and near the property (the off-site remediation) that have been affected by solvents previously used at the facility. The on-site remediation calls for the operation of a pump and treat system (which prevents migration of contaminated groundwater off the property) as the final remedy for the site, subject to monitoring and periodic review of the on-site conditions and other remedial technologies that may be developed in the future. In 2016, the Company submitted a revised plan to address on-site conditions, including direct treatment of source areas, and received approval from the oversight authorities to begin implementing the revised plan. The Company received permission from the oversight authorities …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"12. FINANCING ARRANGEMENTS Credit Agreement The Company maintains a revolving credit facility for working capital needs. The Company is the lead borrower, and certain wholly-owned subsidiaries, including Sidney Rich Associates, Inc., BG Retail, LLC, Allen Edmonds LLC, Vionic Group LLC, Vionic International LLC and Blowfish, LLC are each co-borrowers and guarantors. On June 27, 2025, the Company entered into a Seventh Amendment to Fourth Amended and Restated Credit Agreement (as so amended, the ""Credit Agreement"") which, among other modifications, increased the amount available under the revolving credit facility by $200.0 million to an aggregate amount of up to $700.0 million, subject to borrowing base restrictions, and may be increased by up to $250.0 million. The Credit Agreement matures on June 27, 2030. Borrowing availability under the Credit Agreement is limited to the lesser of the total commitments and the borrowing base (""Loan Cap""), which is based on stated percentages of the sum of eligible accounts receivable, eligible inventory and eligible credit card receivables, as defined, less applicable reserves. Under the Credit Agreement, the Loan Parties obligations are secured by a first-priority security interest in all accounts receivable, inventory and certain other collateral. Interest on borrowings is at variable rates based on the secured overnight financing rate (SOFR ) or the prime rate (as defined in the Credit Agreement), plus a spread. The interest rate a …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"2025 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,251,354 $ 114,123 $ $ 1,365,477 E-commerce - Company websites (1) 246,242 274,956 521,198 E-commerce - wholesale drop-ship (1) 120,212 (6,625) 113,587 Total direct-to-consumer sales 1,497,596 509,291 (6,625) 2,000,262 Wholesale - e-commerce (1) 226,105 226,105 Wholesale - landed 515,028 (51,548) 463,480 Wholesale - first cost 59,103 59,103 Licensing and royalty 1,532 6,390 7,922 Other (2) 922 59 981 Net sales $ 1,500,050 $ 1,315,976 $ (58,173) $ 2,757,853 2024 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,333,827 $ 71,704 $ $ 1,405,531 E-commerce - Company websites (1) 220,135 230,869 451,004 E-commerce - wholesale drop-ship (1) 117,128 (5,761) 111,367 Total direct-to-consumer sales 1,553,962 419,701 (5,761) 1,967,902 Wholesale - e-commerce (1) 240,338 240,338 Wholesale - landed 484,797 (53,975) 430,822 Wholesale - first cost 71,832 71,832 Licensing and royalty 1,810 9,210 11,020 Other (2) 684 85 769 Net sales $ 1,556,456 $ 1,225,963 $ (59,736) $ 2,722,683 2023 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,395,689 $ 69,820 $ $ 1,465,509 E-commerce - Company websites (1) 210,622 229,495 440,117 E-commerce - wholesale drop-ship (1) 133,097 (5,786) 127,311 Total direct-to-consumer sales 1,606,311 432,412 (5,786) 2,032,937 Wholesale - e-commerce (1) 233,183 233,183 Wholesale - landed 491,13 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

16. SHARE-BASED COMPENSATION The Company has share-based incentive compensation plans under which certain officers, employees and members of the Board of Directors are participants and may be granted restricted stock, stock performance awards, restricted stock units and stock options. ASC 718, Compensation Stock Compensation , and ASC 505, Equity , require companies to recognize compensation expense in an amount equal to the fair value of all share-based payments granted to employees over the requisite service period for each award. In certain limited circumstances, the Companys incentive compensation plan provides for accelerated vesting of the awards, such as in the event of a change in control, qualified retirement, death or disability. The Company has a policy of issuing treasury shares in satisfaction of share-based awards. Share-based compensation expense of $12.4 million, $15.1 million and $14.8 million was recognized in 2025, 2024 and 2023, respectively, as a component of selling and administrative expenses. The following table details the share-based compensation expense by plan for 2025, 2024 and 2023: ($ thousands) 2025 2024 2023 Expense for share-based compensation plans, net of forfeitures: Restricted stock $ 10,218 $ 12,746 $ 12,579 Stock performance awards 1,182 1,410 1,183 Restricted stock units 1,027 989 1,042 Total share-based compensation expense $ 12,427 $ 15,145 $ 14,804 The Company issued 518,248, 80,069 and 537,267 shares of common stock in 2025, 2024 a …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

14. FAIR VALUE MEASUREMENTS Fair Value Hierarchy The Company follows ASC Topic 820, Fair Value Measurement , which establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value measurement disclosure requirements specify a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs) or reflect the Companys own assumptions of market participant valuation (unobservable inputs). In accordance with the fair value guidance, the inputs to valuation techniques used to measure fair value are categorized into three levels based on the reliability of the inputs as follows: Level 1 Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; and Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. In determining fair value, the Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

11. GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets were as follows: ($ thousands) January 31, 2026 February 1, 2025 Intangible Assets Famous Footwear $ 2,800 $ 2,800 Brand Portfolio (1) 354,883 342,083 Total intangible assets 357,683 344,883 Accumulated amortization (168,922) (157,565) Total intangible assets, net 188,761 187,318 Goodwill Brand Portfolio (2) 15,386 4,956 Total goodwill 15,386 4,956 Goodwill and intangible assets, net $ 204,147 $ 192,274 (1) The carrying amount of intangible assets as of January 31, 2026 and February 1, 2025 is presented net of accumulated impairment charges of $ 106.2 million. (2) The carrying amount of goodwill as of January 31, 2026 and February 1, 2025 is presented net of accumulated impairment charges of $415.7 million. As further described in Note 3 of the consolidated financial statements, the Company acquired Stuart Weitzman on August 4, 2025. The allocation of the purchase price resulted in trademark intangible assets of $12.8 million and incremental goodwill of $10.4 million. The trademark is being amortized on a straight-line basis over its useful life of 20 years. The Companys intangible assets as of January 31, 2026 and February 1, 2025 were as follows: ($ thousands) January 31, 2026 Estimated Useful Lives Accumulated Accumulated (In Years) Cost Basis Amortization Impairment Net Carrying Value Trade names 2 - 40 $ 312,288 $ 149,492 $ (10,200) $ 152,596 Trade names Indefinite 107,400 (92,000) 15,400 Customer relation …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

7. INCOME TAXES The components of (loss) earnings before income taxes consisted of domestic loss before income taxes of $39.3 million in 2025 and earnings before income taxes of $84.8 million and $132.5 million in 2024 and 2023, respectively. The Companys international earnings before income taxes were $27.1 million, $50.4 million and $48.8 million in 2025, 2024 and 2023, respectively. The components of income tax (benefit) provision on earnings were as follows: ($ thousands) 2025 2024 2023 Federal Current $ (3,964) $ 3,818 $ 10,849 Deferred (4,820) 13,710 5,138 Total federal income tax (benefit) provision (8,784) 17,528 15,987 State Current 506 1,876 2,423 Deferred (1,540) 4,775 (9,819) Total state income tax (benefit) provision (1,034) 6,651 (7,396) International Current 7,279 5,289 4,879 Deferred 194 (407) (3,980) Total international income tax provision 7,473 4,882 899 Total income tax (benefit) provision $ (2,345) $ 29,061 $ 9,490 ASU 2023-09 was adopted on a prospective basis for the year ended January 31, 2026. A reconciliation of the U.S. federal statutory income tax rate to the effective tax rate is as follows: 2025 ($ thousands) Amount Rate U.S. Federal Statutory Rate $ (2,567) 21.00% Effect of cross-border tax laws Transition tax (2,464) 20.16% Other 339 (2.77)% Nontaxable or nondeductible items Excess officer compensation 933 (7.63)% Other (241) 1.97% Other Stock compensation 796 (6.51)% Other (100) 0.82% State and local income taxes, net of federal income tax eff …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

13. LEASES The Company leases all of its retail locations, a manufacturing facility, and certain office locations, distribution centers and equipment. At contract inception, leases are evaluated and classified as either operating or finance leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease right-of-use assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The majority of the Companys leases do not provide an implicit rate and therefore, the Company uses an incremental borrowing rate based on the information available at the commencement date to determine the present value of future payments. For operating leases, lease expense for the minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred. The Company regularly analyzes the results of all of its stores and assesses the viability of underperforming stores to determine whether events or circumstances exist that indicate the stores should be closed or whether the carrying amount of their long-lived assets may not be recoverable. After allowing for an appropriate start-up period and consideration of any unusual nonrecurring events, property and equipment at stores and the lease right-of-use assets indicated as impaired are written down to fair value as calculated using a discounted cash flow method. The fair value of the lease ri …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Impact of Prospective Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The ASU requires new financial statement disclosures in a tabular format, disaggregating information about certain income expenses. The ASU is effective for the Company on a prospective basis for the Companys annual disclosures for fiscal 2027 and for interim periods beginning with the first quarter of 2028. Early adoption and retrospective application is permitted. The Company is currently evaluating the impact of the ASU on its consolidated financial statement disclosures. In September 2025, the FASB issued ASU 2025-06, Intangibles Goodwill and Other Internal-Use Software (Subtopic 350-40), which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40. The ASU is intended to clarify and modernize the accounting for costs related to internal-use software. ASU 2025-06 is effective for the Companys annual disclosure for fiscal 2028, and interim reporting periods beginning with the first quarter of 2028, with early adoption permitted. The guidance may be applied using a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact of the ASU on its consolidated financial statement disclosures. …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

6. RETIREMENT AND OTHER BENEFIT PLANS The Company sponsors pension plans in both the United States and Canada. Under the domestic plans, salaried, management and certain hourly employees pension benefits are based on a two-rate formula applied to each year of service. Participants receive the larger of the accrued benefit as of December 31, 2015 (based on service commencing at the date of hire and a 35-year service cap and an average annual salary for the five highest consecutive years during the last 10-year period) and the benefit calculated under the current plan provisions from the date of hire. Generally, under the current plan provisions, a participant receives credit for one year of service for each 365 days of employment as an eligible employee with the Company commencing after the employees date of participation in the plan, up to 30 years . Except for grandfathered employees and certain hourly associates in the Companys retail divisions, final average compensation, taxable covered compensation and credited service for purposes of determining accrued pension benefits were frozen as of December 31, 2018. The Companys Canadian pension plans cover certain employees based on plan specifications. Under the Canadian plans, employees pension benefits are based on the employees highest consecutive five years of compensation during the 10 years before retirement. The Companys funding policy for all plans is to make the minimum annual contributions required by applicable regul …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

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 m …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"2. REVENUES Disaggregation of Revenues The following table disaggregates revenue by segment and major source for 2025, 2024 and 2023: 2025 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,251,354 $ 114,123 $ $ 1,365,477 E-commerce - Company websites (1) 246,242 274,956 521,198 E-commerce - wholesale drop-ship (1) 120,212 (6,625) 113,587 Total direct-to-consumer sales 1,497,596 509,291 (6,625) 2,000,262 Wholesale - e-commerce (1) 226,105 226,105 Wholesale - landed 515,028 (51,548) 463,480 Wholesale - first cost 59,103 59,103 Licensing and royalty 1,532 6,390 7,922 Other (2) 922 59 981 Net sales $ 1,500,050 $ 1,315,976 $ (58,173) $ 2,757,853 2024 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,333,827 $ 71,704 $ $ 1,405,531 E-commerce - Company websites (1) 220,135 230,869 451,004 E-commerce - wholesale drop-ship (1) 117,128 (5,761) 111,367 Total direct-to-consumer sales 1,553,962 419,701 (5,761) 1,967,902 Wholesale - e-commerce (1) 240,338 240,338 Wholesale - landed 484,797 (53,975) 430,822 Wholesale - first cost 71,832 71,832 Licensing and royalty 1,810 9,210 11,020 Other (2) 684 85 769 Net sales $ 1,556,456 $ 1,225,963 $ (59,736) $ 2,722,683 2023 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 1,395,689 $ 69,820 $ $ 1,465,509 E-commerce - Company websites (1) 210,622 229,495 440,117 E-commerce - wholesale drop-ship (1) 133,097 (5,786) 127,311 T …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

8. BUSINESS SEGMENT INFORMATION The Companys reportable segments are Famous Footwear and Brand Portfolio. The Famous Footwear segment is comprised of Famous Footwear, famousfootwear.com and famousfootwear.ca. Famous Footwear operated 821 stores at the end of 2025, selling primarily branded footwear for the entire family. The Brand Portfolio segment is comprised of wholesale operations selling the Companys branded footwear, and the retail stores and e-commerce sites associated with those brands. This segment sources, manufactures and markets branded, licensed and private-label footwear primarily to online retailers, national chains, department stores, independent retailers, mass merchandisers and franchise partners, as well as Company-owned Famous Footwear, Allen Edmonds, Sam Edelman, Stuart Weitzman and Naturalizer and e-commerce businesses. The Brand Portfolio segment included 85 branded retail stores in North America and 103 branded retail stores in East and Southeast Asia at the end of 2025. The accounting policies of the reportable segments are the same as those described in Note 1 to the consolidated financial statements. The Companys Famous Footwear and Brand Portfolio reportable segments are operating units that are managed separately. These reportable segments reflect the level at which the chief operating decision maker (CODM), the Companys President and Chief Executive Officer, evaluates financial performance and allocates resources. The CODM uses segment operating …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"15. SHAREHOLDERS EQUITY Company Stock The Companys common stock, which has a $0.01 par value per share, is listed for trading under the ticker symbol CAL on the New York Stock Exchange. Holders of the common shares are entitled to one vote per share. The Company is also authorized to issue preferred shares with a $1.00 par value per share. The following table provides additional information regarding the Companys common and preferred stock: (in thousands) January 31, 2026 February 1, 2025 Common Preferred Common Preferred Authorized shares 100,000 1,000 100,000 1,000 Outstanding shares 33,850 33,632 Stock Repurchase Programs On March 10, 2022, the Board of Directors approved a stock repurchase program (""2022 Program"") authorizing the repurchase of the Companys outstanding common stock of up to 7.0 million shares. The Company can use the repurchase programs to repurchase shares on the open market or in private transactions from time to time, depending on market conditions. The repurchase programs do not have an expiration date. Repurchases of common stock are limited under the Companys debt agreements. During 2025, 2024 and 2023, the Company repurchased 300,000, 1,938,324 shares and 763,000 shares, respectively, under the 2022 Program. There are 3,666,055 additional shares authorized to be repurchased under the 2022 Program as of January 31, 2026. Repurchases Related to Employee Share-based Awards During 2025, 2024 and 2023, employees tendered 247,249, 249,678 and 449,285 s …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

18. SUBSEQUENT EVENTS U.S. Tariff Update On February 20, 2026, the U.S. Supreme Court issued a ruling that invalidated certain tariffs previously imposed under IEEPA. The ultimate availability, timing and amount of any potential refunds associated with these tariffs remains highly uncertain and are subject to further legal, regulatory and administrative processes. Following the Supreme Courts decision, the Trump Administration announced intentions to invoke alternative statutory authorities to continue collecting tariffs and also introduced new tariffs on imports from all countries, in addition to existing non-IEEPA tariffs. Significant uncertainty persists regarding the duration and scope of both existing and newly announced tariffs, including potential adjustments, suspensions or expansions, as well as possible retaliatory actions by foreign governments. The Company continues to actively monitor these developments and evaluate their potential impacts on its business, financial condition and results of operations. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

N ote 3 Acquisition On February 16, 2025, the Company entered into a Sale and Purchase Agreement with Tapestry, Inc. (Tapestry) to acquire the Stuart Weitzman business (the Acquisition). On August 4, 2025, the Company completed the Acquisition pursuant to the terms and conditions of that Sale and Purchase Agreement, as amended. The aggregate purchase price for the Acquisition was $109.2 million, net of the cash received at the closing. During the first quarter of 2026, the Company recorded a net measurement period adjustment of $0.6 million related to the finalization of net working capital adjustments. There were no additional net measurement periods adjustments in the thirteen weeks ended August 1, 2026. The purchase accounting for the Stuart Weitzman acquisition is complete. Stuart Weitzman, which includes both wholesale and direct-to-consumer channels, has been an iconic global luxury womens footwear brand for over 35 years . The Acquisition strengthens the Companys position in the global footwear market and adds an iconic name in luxury footwear to the Brand Portfolio segment. Stuart Weitzman maintains a strong presence in North America, Asia and Europe across both wholesale and direct-to-consumer channels. The acquisition was funded with borrowings from the revolving credit agreement. Purchase Price Allocation The acquisition was accounted for in accordance with Accounting Standards Codification (ASC) Topic 805, Business Combinations . Accordingly, the assets and liabil …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Note 17 Commitments and Contingencies Environmental Remediation Prior operations included numerous manufacturing and other facilities for which the Company may have responsibility under various environmental laws for the remediation of conditions that may be identified in the future. The Company is involved in environmental remediation and ongoing compliance activities at several sites and has been notified that it is or may be a potentially responsible party at several other sites. Redfield The Company is remediating, under the oversight of Colorado authorities, the groundwater and indoor air at its owned facility in Colorado (the Redfield site or, when referring to remediation activities at or under the facility, the on-site remediation) and residential neighborhoods adjacent to and near the property (the off-site remediation) that have been affected by solvents previously used at the facility. The on-site remediation calls for the operation of a pump and treat system (which prevents migration of contaminated groundwater off the property) as the final remedy for the site, subject to monitoring and periodic review of the on-site conditions and other remedial technologies that may be developed in the future. In 2016, the Company submitted a revised plan to address on-site conditions, including direct treatment of source areas, and received approval from the oversight authorities to begin implementing the revised plan. The Company received permission from the oversight authori …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 11 Financing Arrangements Credit Agreement The Company maintains a revolving credit facility under the Seventh Amendment to the Fourth Amended and Restated Credit Agreement dated as of June 27, 2025 (the Credit Agreement), for working capital needs and strategic initiatives, with amounts available up to $700.0 million, subject to borrowing base restrictions. Interest on borrowings is at variable rates based on the secured overnight financing rate (SOFR), or the prime rate (as defined in the credit agreement), plus a spread. The Credit Agreement matures on June 27, 2030. The Company is the lead borrower, and Sidney Rich Associates, Inc., BG Retail, LLC, Allen Edmonds LLC, Vionic Group LLC, Vionic International LLC and Blowfish, LLC are each co-borrowers and guarantors. At August 1, 2026, the Company had $288.0 million of borrowings outstanding and $7.6 million in letters of credit outstanding under the Credit Agreement. Total additional borrowing availability was $357.3 million as of August 1, 2026. As further discussed in Note 3 to the condensed consolidated financial statements, the Company acquired Stuart Weitzman from Tapestry, Inc. on August 4, 2025. Borrowings under the revolving credit agreement were used to fund the acquisition. The Company was in compliance with all covenants and restrictions under the Credit Agreement as of August 1, 2026. …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Thirteen Weeks Ended August 1, 2026 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 320,037 $ 33,864 $ $ 353,901 E-commerce - Company websites (1) 53,827 61,437 115,264 E-commerce - wholesale drop-ship (1) 29,183 (1,307) 27,876 Total direct-to-consumer sales 373,864 124,484 (1,307) 497,040 Wholesale - e-commerce (1) 64,371 64,371 Wholesale - landed 134,893 (18,196) 116,697 Wholesale - first cost 14,644 14,644 Licensing and royalty 358 1,298 1,656 Other (2) 138 907 1,046 Net sales $ 374,360 $ 340,597 $ (19,503) $ 695,454 Thirteen Weeks Ended August 2, 2025 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 344,255 $ 20,167 $ $ 364,422 E-commerce - Company websites (1) 54,796 54,496 109,292 E-commerce - wholesale drop-ship (1) 24,381 (1,215) 23,166 Total direct-to-consumer sales 399,051 99,044 (1,215) 496,880 Wholesale - e-commerce (1) 44,895 44,895 Wholesale - landed 118,609 (15,479) 103,130 Wholesale - first cost 11,740 11,740 Licensing and royalty 404 1,320 1,724 Other (2) 138 12 150 Net sales $ 399,593 $ 275,620 $ (16,694) $ 658,519 Twenty-Six Weeks Ended August 1, 2026 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 588,871 $ 63,422 $ $ 652,293 E-commerce - Company websites (1) 103,879 127,777 231,656 E-commerce - wholesale drop-ship (1) 59,746 (2,867) 56,879 Total direct-to-consumer sales 692,750 250,945 (2,867) 940,829 Wholesale - e-commerce (1) …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

"Note 13 Share-Based Compensation The Company recognized share-based compensation expense of $3.6 million and $4.1 million during the thirteen weeks ended and $6.3 million and $6.9 million during the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively. The Company had net issuances of 1,026,979 and 30,000 shares of common stock during the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively, for restricted stock grants, stock performance awards issued to employees and common and restricted stock grants issued to non-employee directors, net of forfeitures and shares withheld to satisfy the tax withholding requirement. During the twenty-six weeks ended August 1, 2026 and August 2, 2025, the Company had net issuances of 908,832 and 513,778 shares of common stock, respectively, related to share-based plans. Restricted Stock The following table summarizes restricted stock activity for the periods ended August 1, 2026 and August 2, 2025: Thirteen Weeks Ended Thirteen Weeks Ended August 1, 2026 August 2, 2025 Weighted- Weighted- Total Number Average Total Number Average of Restricted Grant Date of Restricted Grant Date Shares Fair Value Shares Fair Value Nonvested at May 2, 2026 936,909 $ 19.94 Nonvested at May 3, 2025 1,354,064 $ 23.88 Granted 923,363 13.12 Granted 50,852 13.19 Forfeited (16,562) 17.30 Forfeited (16,300) 23.97 Vested (50,083) 13.87 Vested (50,670) 26.25 Nonvested at August 1, 2026 1,793,627 $ 16.63 Nonvested at August 2, 2025 1,33 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 15 Fair Value Measurements Fair Value Hierarchy Fair value measurement disclosure requirements specify a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs) or reflect the Companys own assumptions of market participant valuation (unobservable inputs). In accordance with the fair value guidance, the inputs to valuation techniques used to measure fair value are categorized into three levels based on the reliability of the inputs as follows: Level 1 Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; and Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. In determining fair value, the Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company also considers counterparty credit risk in its assessment of fair value. Classification of the financial or non-financial asset or liability within the h …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 9 Goodwill and Intangible Assets Goodwill and intangible assets were as follows: ($ thousands) August 1, 2026 August 2, 2025 January 31, 2026 Intangible Assets Famous Footwear $ 2,800 $ 2,800 $ 2,800 Brand Portfolio (1) 354,883 342,083 354,883 Total intangible assets 357,683 344,883 357,683 Accumulated amortization (174,709) (163,083) (168,922) Total intangible assets, net 182,974 181,800 188,761 Goodwill Brand Portfolio (2) 15,994 4,956 15,386 Total goodwill 15,994 4,956 15,386 Goodwill and intangible assets, net $ 198,968 $ 186,756 $ 204,147 (1) The carrying amount of intangible assets as of August 1, 2026, August 2, 2025 and January 31, 2026 is presented net of accumulated impairment charges of $106.2 million. (2) The carrying amount of goodwill as of August 1, 2026, August 2, 2025 and January 31, 2026 is presented net of accumulated impairment charges of $415.7 million. As further described in Note 3 of the condensed consolidated financial statements, the Company acquired Stuart Weitzman on August 4, 2025. The allocation of the purchase price resulted in trademark intangible assets of $12.8 million and incremental goodwill of $11.0 million. The trademark is being amortized on a straight-line basis over its useful life of 20 years. The Companys intangible assets as of August 1, 2026, August 2, 2025 and January 31, 2026 were as follows: ($ thousands) August 1, 2026 Estimated Useful Lives Accumulated Accumulated (In Years) Cost Basis Amortization Impairment Net Carrying …

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Note 16 Income Taxes The Companys consolidated effective tax rate can vary considerably from period to period, depending on a number of factors. The Companys consolidated effective tax rates were a provision of 23.6% and a benefit of 22.0% for the thirteen weeks ended August 1, 2026 and August 2, 2025, respectively. The Companys consolidated effective tax rates were provisions of 25.4% and 8.8% for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively. The higher effective tax rate for the quarter was driven by the pre-tax income and tax provision associated with tariff refunds received during the thirteen weeks ended August 1, 2026, contrasted with a discrete tax benefit of $2.5 million associated with foreign earnings transition tax resolution during the thirteen weeks ended August 2, 2025. Discrete tax provisions related to share-based compensation of $1.5 million and $0.4 million were also recorded for the twenty-six weeks ended August 1, 2026 and August 2, 2025, respectively. As of August 1, 2026, no deferred taxes have been provided on the accumulated unremitted earnings of the Companys foreign subsidiaries that are not subject to United States income tax. The Company periodically evaluates its international investment opportunities and plans, as well as its international working capital needs, to determine the level of investment required and, accordingly, determines the level of international earnings that is considered indefinitely reinvested. Ba …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 10 Leases The Company leases all of its retail locations, distribution centers, certain office locations, equipment and a manufacturing facility. At contract inception, leases are evaluated and classified as either operating or finance leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are expensed as incurred. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred. The Company uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future payments. During the twenty-six weeks ended August 1, 2026, the Company entered into new or amended leases that resulted in the recognition of right-of-use assets and lease obligations of $67.2 million on the condensed consolidated balance sheets. As of August 1, 2026, the Company has entered into lease commitments for nine retail locations for which the leases have not yet commenced. The Company anticipates that three leases will begin in the current fiscal year, five leases will begin in fiscal 2027 and one lease will begin in fiscal 2028. Upon commencement, right-of-use assets and lease liabilities of approximately $3.8 million will be recorded in the current fiscal year, $5.7 million will be recorded in fiscal 2027, and $1.8 million will be recorded in 2028, respectively, on the condensed consolidated …

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Impact of Recently Issued Accounting Pronouncements There have been no additional accounting pronouncements or changes in accounting pronouncements during the twenty-six weeks ended August 1, 2026 as compared with the recently issued accounting pronouncements described in our Annual Report on Form 10-K for the year ended January 31, 2026 that are significant or expected to be significant to the Company.

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Note 14 Retirement and Other Benefit Plans The following table sets forth the components of net periodic benefit expense (income) for the Company, including the domestic and Canadian plans: Pension Benefits Other Postretirement Benefits Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025 Service cost $ 1,296 $ 1,115 $ $ Interest cost 3,590 3,623 11 11 Expected return on assets (5,844) (5,561) Amortization of: Actuarial loss (gain) 959 1,378 (18) (19) Prior service cost 12 Total net periodic benefit expense (income) $ 1 $ 567 $ (7) $ (8) Pension Benefits Other Postretirement Benefits Twenty-Six Weeks Ended Twenty-Six Weeks Ended ($ thousands) August 1, 2026 August 2, 2025 August 1, 2026 August 2, 2025 Service cost $ 2,624 $ 2,339 $ $ Interest cost 7,207 7,244 23 24 Expected return on assets (11,667) (11,117) Amortization of: Actuarial loss (gain) 2,434 2,856 (35) (39) Prior service cost 19 Total net periodic benefit expense (income) $ 598 $ 1,341 $ (12) $ (15) Service cost is included in selling and administrative expenses. All other components of net periodic benefit expense (income) are included in other income, net in the condensed consolidated statements of earnings. …

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Note 6 Restructuring and Other Special Charges Gain on Sale of Corporate Headquarters During the twenty-six weeks ended August 1, 2026, the Company completed the sale of one of the remaining parcels comprising its corporate headquarters in Clayton, Missouri. The transaction resulted in a gain of $3.9 million ($2.9 million on an after-tax basis, or $0.09 per diluted share), which is reflected in the restructuring and other special charges in the condensed consolidated statement of earnings within the Eliminations and Other category for the twenty-six weeks ending August 1, 2026. The Company did not have a similar gain in the thirteen weeks ending August 1, 2026 or the thirteen or twenty-six weeks ended August 2, 2025. Stuart Weitzman Acquisition and Integration Costs As discussed in Note 3 to the condensed consolidated financial statements, on August 4, 2025, the Company completed the previously announced acquisition of Stuart Weitzman from Tapestry, Inc., and successfully completed the Stuart Weitzman systems integration on February 1, 2026. During the twenty-six weeks ended August 1, 2026, the Company incurred information technology, office relocation and other related costs associated with the acquisition of approximately $1.8 million ($1.3 million on an after-tax basis, or $0.04 per diluted share). Of the $1.8 million in costs for the twenty-six weeks ended August 1, 2026, $1.4 million is reflected in the Eliminations and Other category and $0.4 million is reflected in the …

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"Note 4 Revenues Disaggregation of Revenues The following table disaggregates revenue by segment and major source for the periods ended August 1, 2026 and August 2, 2025: Thirteen Weeks Ended August 1, 2026 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 320,037 $ 33,864 $ $ 353,901 E-commerce - Company websites (1) 53,827 61,437 115,264 E-commerce - wholesale drop-ship (1) 29,183 (1,307) 27,876 Total direct-to-consumer sales 373,864 124,484 (1,307) 497,040 Wholesale - e-commerce (1) 64,371 64,371 Wholesale - landed 134,893 (18,196) 116,697 Wholesale - first cost 14,644 14,644 Licensing and royalty 358 1,298 1,656 Other (2) 138 907 1,046 Net sales $ 374,360 $ 340,597 $ (19,503) $ 695,454 Thirteen Weeks Ended August 2, 2025 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 344,255 $ 20,167 $ $ 364,422 E-commerce - Company websites (1) 54,796 54,496 109,292 E-commerce - wholesale drop-ship (1) 24,381 (1,215) 23,166 Total direct-to-consumer sales 399,051 99,044 (1,215) 496,880 Wholesale - e-commerce (1) 44,895 44,895 Wholesale - landed 118,609 (15,479) 103,130 Wholesale - first cost 11,740 11,740 Licensing and royalty 404 1,320 1,724 Other (2) 138 12 150 Net sales $ 399,593 $ 275,620 $ (16,694) $ 658,519 Twenty-Six Weeks Ended August 1, 2026 Eliminations and ($ thousands) Famous Footwear Brand Portfolio Other Total Retail stores $ 588,871 $ 63,422 $ $ 652,293 E-commerce - Company websites (1) 103 …

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Note 7 Business Segment Information Following is a summary of certain key financial measures for the Companys business segments for the periods ended August 1, 2026 and August 2, 2025: Thirteen Weeks Ended August 1, 2026 Famous Brand Eliminations ($ thousands) Footwear Portfolio and Other Total Net sales (1) $ 374,360 $ 340,597 $ (19,503) $ 695,454 Cost of goods sold (2) 214,552 117,843 (17,916) 314,479 Gross profit 159,808 222,754 (1,587) 380,975 Less expenses: Retail stores (3) 94,843 16,364 111,207 Information technology 6,329 8,720 1,699 16,748 Warehousing and distribution 14,366 13,480 664 28,510 Advertising and marketing 14,745 22,116 175 37,036 Other expenses (4) 24,361 70,826 14,673 109,860 Operating earnings (loss) $ 5,164 $ 91,248 $ (18,798) $ 77,614 Segment assets $ 931,336 $ 1,020,370 $ 184,636 $ 2,136,342 Thirteen Weeks Ended August 2, 2025 Famous Brand Eliminations ($ thousands) Footwear Portfolio and Other Total Net sales (1) $ 399,593 $ 275,620 $ (16,694) $ 658,519 Cost of goods sold 224,862 164,565 (16,703) 372,724 Gross profit 174,731 111,055 9 285,795 Less expenses: Retail stores (3) 93,923 7,467 101,390 Information technology 7,823 7,690 1,229 16,742 Warehousing and distribution 15,377 14,099 (1,869) 27,607 Advertising and marketing 15,150 17,238 211 32,599 Restructuring and other special charges, net 123 1,792 4,841 6,756 Other expenses (4) 23,784 56,120 11,505 91,409 Operating earnings (loss) $ 18,551 $ 6,649 $ (15,908) $ 9,292 Segment assets $ 941,398 $ …

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Note 2 Significant Accounting Policies The Companys significant accounting policies, which are disclosed in the Annual Report on Form 10-K for the year ended January 31, 2026, did not change during the twenty-six weeks ended August 1, 2026. Impact of Recently Adopted Accounting Pronouncements In July 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-05, Measurement of Credit Losses for Accounts Receivable and Contract Assets. The ASU permits the adoption of a practical expedient that allows an entity to assume current conditions as of the balance sheet date do not change for the remaining life of the current accounts receivable. The Company adopted ASU 2025-05 on a prospective basis during the first quarter of 2026, which did not have a material impact on the consolidated financial statement disclosures. Impact of Recently Issued Accounting Pronouncements There have been no additional accounting pronouncements or changes in accounting pronouncements during the twenty-six weeks ended August 1, 2026 as compared with the recently issued accounting pronouncements described in our Annual Report on Form 10-K for the year ended January 31, 2026 that are significant or expected to be significant to the Company. …

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Note 12 Shareholders Equity Accumulated Other Comprehensive Loss The following table sets forth the changes in accumulated other comprehensive loss by component for the periods ended August 1, 2026 and August 2, 2025: Pension and Accumulated Foreign Other Other Currency Postretirement Comprehensive ($ thousands) Translation Transactions (1) (Loss) Income Balance at May 2, 2026 $ 2,181 $ (19,996) $ (17,815) Other comprehensive loss before reclassifications 962 962 Reclassifications: Amounts reclassified from accumulated other comprehensive loss 941 941 Tax benefit (242) (242) Net reclassifications 699 699 Other comprehensive income 962 699 1,661 Balance at August 1, 2026 $ 3,143 $ (19,297) $ (16,154) Balance at May 3, 2025 $ (28) $ (27,145) $ (27,173) Other comprehensive loss before reclassifications (1,075) (1,075) Reclassifications: Amounts reclassified from accumulated other comprehensive loss 1,371 1,371 Tax benefit (353) (353) Net reclassifications 1,018 1,018 Other comprehensive (loss) income (1,075) 1,018 (57) Balance at August 2, 2025 $ (1,103) $ (26,127) $ (27,230) Balance at January 31, 2026 $ 2,503 $ (21,079) $ (18,576) Other comprehensive income before reclassifications 640 640 Reclassifications: Amounts reclassified from accumulated other comprehensive loss 2,399 2,399 Tax benefit (617) (617) Net reclassifications 1,782 1,782 Other comprehensive income 640 1,782 2,422 Balance at August 1, 2026 $ 3,143 $ (19,297) $ (16,154) Balance at February 1, 2025 $ (5,789) $ ( …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing