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Caleres, Inc. (CAL) Investor Day Corrected Transcript 02-Oct-2019 Caleres, Inc. (CAL) Investor Day Total Pages: 74 1-877-FACTSET www.callstreet.com Copyright © 2001-2019 FactSet CallStreet, LLC Caleres, Inc. (CAL) Corrected Transcript Investor Day 02-Oct-2019 CORPORATE PARTICIPANTS Kenneth H. Hannah Willis Hill Chief Financial Officer & Senior Vice President, Caleres, Inc. Senior Vice President & Chief Information Officer, Caleres, Inc. Diane M. Sullivan Mark A. Schmitt Chairman, President & Chief Executive Officer, Caleres, Inc. Senior Vice President & Chief Logistics Officer, Caleres, Inc. Stephen Henderson Daniel R. Friedman Senior Vice President-Marketing & eCommerce, Caleres, Inc. Division President-Global Supply Chain, Caleres, Inc. Molly Adams Samuel Edelman Division President-Famous Footwear, Caleres, Inc. President-Edelman Division, Caleres, Inc. John W. Schmidt Chris T. Gallagher Division President-Brand Portfolio, Caleres, Inc. Co-Founder, President & Chief Executive Officer, Vionic Group LLC ...................................................................................................................................................................................................................................................... OTHER PARTICIPANTS Laurent Vasilescu Christopher Svezia Analyst, Macquarie Capital (USA), Inc. Analyst, Wedbush Securities, Inc. Steven L. Marotta Rick B. Patel Analyst, C.L. King & Associates, Inc. Analyst, Needham & Co. LLC Sam Poser Will Gaertner Analyst, Susquehanna Financial Group LLLP Analyst, Susquehanna Financial Group LLLP Laura Champine Analyst, Loop Capital Markets LLC 2 1-877-FACTSET www.callstreet.com Copyright © 2001-2019 FactSet CallStreet, LLC Caleres, Inc. (CAL) Corrected Transcript Investor Day 02-Oct-2019 MANAGEMENT DISCUSSION SECTION Kenneth H. Hannah Chief Financial Officer & Senior Vice President, Caleres, Inc. Good morning, everyone. Welcome and thank you for joining us this morning. We've got an exciting day planned. It's a bit of a long day, so get some coffee and enjoy. We've got – our leadership team is here and really excited to share with you what's going on at Caleres and really give you some insight into our three-year strategic plan. Before we get going, go ahead and just make sure that everyone understands that we are going to share some forward-looking information today. And in our discussion and our materials, it does contain 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. The company 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 February 2, 2019 that information is incorporated by reference herein and updated by the company's Quarterly Report on the Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements even though its situations may change. So, with that behind us, what I'd like to do is have Diane come up and get us going here. And we've got a great day planned. We certainly are excited about what's going on here at Caleres. We're excited about the leadership team that you're going to get a chance to interact with today. And I'll be back at the end to kind of sum up the discussion in terms of our financial outlook. So with that, I'll turn it over to Diane. ...................................................................................................................................................................................................................................................... Diane M. Sullivan Chairman, President & Chief Executive Officer, Caleres, Inc. Thank you, Ken. Good morning everybody. Great to see you. A lot of familiar faces. Great to see the ones I know, nice to meet a few new people and seeing new folks as well. And welcome to everybody on the webcast too. We're really – I was saying to a few people this morning, I'm really looking forward to this day because it has been a while since we had been together to really talk about what we were doing here at Caleres with some kind of scope. We had done a little bit of deep dives over the last couple of years but really wanted to lay out a strategic plan for everybody. So, really want to share our progress today and the work that we've been doing to really expand the potential of our company. We're very confident about the strategies that we have in place. When you step back and you think about – for those of you who have been following us now for a while, we've had that North Star up there for quite a bit of time. And that North Star was we were going to build a powerful portfolio of consumer brands, all built on strong consumer connections and we were going to have the absolute best team in the industry. And that we believe that that was going to drive consistent profitable sustainable growth. So, that North Star for us, that vision, that thing that was out there it has really not changed. But today is a bit about what the next chapter is for Caleres and we're going to provide you with insight into how we're focusing our people, how we're focusing our investment and really how we're focusing the priorities in the company. 3 1-877-FACTSET www.callstreet.com Copyright © 2001-2019 FactSet CallStreet, LLC Caleres, Inc. (CAL) Corrected Transcript Investor Day 02-Oct-2019 And this isn't a plan that we just put together for October 2 here for our Investor Day. This is really a plan for the people and for our company. We're going to give you a little bit of a peek behind the curtain about how we think about how we do all of these things. But to take you there, I really first need to – give you, share with you a little bit about the history of the company and where we've been, a little bit of a perspective. So let me start with this – the point that this CAL101 that we really put the consumer at the center of everything you do. You hear this from a lot of companies, don't you? I don't think that's anything new. But we actually have an authentic story to tell about this because Caleres and Brown Shoe Company before was really driven by consumer insight from the very beginning. Our company was founded in the 1860s by George Brown that – because he knew he wanted to make sure that he developed the perfect shoe with the perfect fit. He also was the founder of right and left in the late 1800s. That star that you see under the Caleres name, that was a promise about a [ph] fit feel ideal (04:58). So this isn't something we made up about putting the consumer at the center of everything. This is something that's been going on and part of our history for a long time. And then it was about driving marketing to different consumer segments. And then it was about big-box retailing. And then it was about some dot-coms and then it was about building out omni-channel. So the idea that our company has put the consumer at the center has – it's part of our DNA. It's part of our history. We didn't just think about it yesterday. Secondly, we have an incredibly diversified and relevant portfolio of footwear brands. And they are very much focused and targeted against a very specific consumer segment and we support that by product and design and marketing teams to make sure that they stay relevant with the consumer. And when we say authentic and differentiated, we mean that we work day in, day out to make sure that they stay that way. The other thing about Caleres is we are footwear experts, again, back to that history, right? We are footwear experts, that we have an unmatched commitment to continued innovation. And if you think about how we would separate ourselves, we think about the feel of the shoe, the fit of the shoe, the quality, the craftsmanship [ph] yet (06:15) it's got to all be trend right and all of that. But what is inside our footwear really matters and we have an unmatched capability to make sure that fit and feel is fantastic. So, the fourth thing is we're really service leaders. We can today and we did last year, deliver to the consumer, any way she wanted to shop over 100 million pairs of shoes. So, our capabilities in our own stores through our retail partners, through our distribution centers and what we've built out there, as well as all of the eCommerce platforms that we have across the company has allowed us to do that. So, you could basically shop any way that you want. And together, you add all of those things together and it really provides us with a unique set of advantages that is important for the foundation for us to be able to compete and win in a very changing and fast-paced environment. So, that really is who Caleres is. And if you step back and you think about the companies and the company we keep, right, who do we work with? It's a range of companies because of the diversification and our philosophy of how we deal with partnership is really all about collaboration and making sure that we learn and we grow together and we have a really – the company we keep is second to none. Now over time, we have been elevating our ambitions and our outcomes. And in 2011 to 2015, I would call this maybe the first chapter. The first chapter, we were really focused on being a leaner and stronger and more 4 1-877-FACTSET www.callstreet.com Copyright © 2001-2019 FactSet CallStreet, LLC Caleres, Inc.
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