ST. LOUIS--(BUSINESS WIRE)--Caleres (NYSE: CAL)(caleres.com)
today announced Rick Ausick, president of Famous Footwear, will retire
in 2018 as part of a planned succession. Ausick, and his leadership
team, have been integral in developing and executing Famous Footwear’s
highly successful strategic plan. Ausick will remain actively involved
and participate in day-to-day operations during both the search and
transition.
“The Caleres board of directors and its executive leadership has been
preparing for Rick’s retirement by developing a deep bench of strong
leaders at Famous Footwear and by expanding the breadth and depth of our
Brand Portfolio,” said Diane Sullivan, CEO, president and chairman of
Caleres. “We are actively managing the search for Rick’s successor, and,
since it is incredibly important for us to find the right person for
this role, we are considering both internal and external candidates. Our
goal is to ensure a thoughtful, seamless transition.
“Thanks to Rick and his entire leadership team, Famous Footwear remains
on track to deliver low-single digit same-store-sales for fiscal 2017,”
continued Sullivan. “The success we’ve seen at Famous over the past
several years is due to work Rick and his team has completed in
targeting high-value consumers and in developing our omnichannel
capabilities. This strategic work will continue into 2018 and beyond.”
Ausick joined Caleres in 2002 as Famous Footwear’s senior vice president
and chief merchandise officer, directing the chain’s merchandising
assortment, achieving increased purchase ratios, lower inventories and
faster merchandise turns. After spending three years as division
president of wholesale, Ausick returned to Famous Footwear as division
president in 2010. Ausick worked closely with the senior leadership team
to transform Famous Footwear into a compelling retailer of nationally
recognized brands for the family, offering consumers convenience and
everyday value.
Caleres has retained Kirk Palmer Associates to assist in the search for
his successor and will review both internal and external candidates.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
This press release contains certain forward-looking statements and
expectations regarding the company’s future performance and the
performance of its brands. Such statements are subject to various risks
and uncertainties that could cause actual results to differ
materially. These risks include (i) changing consumer demands, which may
be influenced by consumers’ disposable income, which in turn can be
influenced by general economic conditions; (ii) rapidly changing fashion
trends and purchasing patterns; (iii) intense competition within the
footwear industry; (iv) political and economic conditions or other
threats to the continued and uninterrupted flow of inventory from China
and other countries, where the Company relies heavily on third-party
manufacturing facilities for a significant amount of its inventory; (v)
the ability to accurately forecast sales and manage inventory levels;
(vi) cybersecurity threats or other major disruption to the Company’s
information technology systems; (vii) transitional challenges with
acquisitions; (viii) customer concentration and increased consolidation
in the retail industry; (ix) a disruption in the Company’s distribution
centers; (x) the ability to recruit and retain senior management and
other key associates; (xi) foreign currency fluctuations; (xii)
compliance with applicable laws and standards with respect to labor,
trade and product safety issues; (xiii) the ability to secure/exit
leases on favorable terms; (xiv) the ability to maintain relationships
with current suppliers; (xv) the ability to attract, retain and maintain
good relationships with licensors and protect intellectual property
rights; and (xvi) changes to tax laws, policies and treaties. The
company’s reports to the Securities and Exchange Commission contain
detailed information relating to such factors, including, without
limitation, the information under the caption Risk Factors in Item 1A of
the company’s Annual Report on Form 10-K for the year ended January 28,
2017, which information is incorporated by reference herein and updated
by the company’s Quarterly Reports on Form 10-Q. The company does not
undertake any obligation or plan to update these forward-looking
statements, even though its situation may change.
ABOUT CALERES
Caleres is a diverse portfolio of global footwear brands. Our products
are available virtually everywhere - in the over 1,200 retail stores we
operate, in hundreds of major department and specialty stores, on our
branded e-commerce sites, and on many additional third-party retail
websites. Famous Footwear and Famous.com serve
as our Family brands. Our Contemporary Fashion brands include Sam
Edelman, Allen Edmonds, Franco Sarto, Vince, Via Spiga, George Brown
Bilt, Diane von Furstenberg, Fergie Footwear and Carlos Santana.
Naturalizer, Dr. Scholl’s Shoes, LifeStride, Bzees and Rykä represent
our Healthy Living brands. Combined, these brands help make Caleres a
company with both a legacy and a mission. Our legacy is our more than
130-years of craftsmanship, our passion for fit and our business savvy,
while our mission is to continue to inspire people to feel good…feet
first. Visit caleres.com to
learn more about us.
