Caleres reported second quarter 2026 results with net sales of $695.5 million, a 5.6% increase year-over-year. Reported diluted earnings per share were $1.71 compared to $0.20 in the prior year period, driven by a $55.6 million tariff refund recovery that boosted GAAP gross margin by 1,140 basis points to 54.8%. Adjusted diluted EPS was $0.47. The Brand Portfolio delivered strong organic growth of 8.2%, while Famous Footwear sales declined 6.3% with comparable store sales down 5.9%. Management raised full-year GAAP earnings per share guidance to a range of $2.80 to $2.95, up from the previous estimate of $1.40 to $1.65 for adjusted EPS. Caleres operates in the consumer footwear retail industry, managing a portfolio of brands including Famous Footwear, Sam Edelman, and Stuart Weitzman.