SEC Info - Caleres Inc. - ‘10-K’ for 1/30/21

Caleres Inc. – ‘10-K’ for 1/30/21 – ‘R11’

On: Tuesday, 3/30/21, at 5:23pm ET · For: 1/30/21 · Accession #: 14707-21-10 · File #: 1-02191

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The following table disaggregates revenue by segment and major source for 2020, 2019 and 2018:

(1)	Collectively referred to as "e-commerce" below

(2)	Includes breakage revenue from unredeemed gift cards

Retail stores

The majority of the Company’s revenue is generated from retail sales where control is transferred and revenue is recognized at the point of sale. Retail sales are recorded net of estimated returns and exclude sales tax. The Company carries a returns reserve and a corresponding return asset for expected returns of merchandise.

Retail sales to members of the Company’s loyalty programs, including the Famously You Rewards program, include two performance obligations: the sale of merchandise and the delivery of points that may be redeemed for future purchases. The transaction price is allocated to the separate performance obligations based on the relative stand-alone selling price. The stand-alone selling price for the points is estimated using the retail value of the merchandise earned, adjusted for estimated breakage based upon historical redemption patterns. The Company disregards the effect of the time value of money between payment for and receipt of goods when the sale does not include a financing element. The revenue associated with the initial merchandise purchased is recognized immediately and the value assigned to the points is deferred until the points are redeemed, forfeited or expired.

Landed wholesale

Landed sales are wholesale sales in which the merchandise is shipped directly to the customer from the Company’s warehouses. Many landed customers arrange their own transportation of merchandise and, with limited exceptions, control is transferred at the time of shipment.

First-cost wholesale

First-cost sales are wholesale sales in which the Company purchases merchandise from an international factory that manufactures the product and subsequently sells to a customer at an overseas port. Revenue is recognized at the time the merchandise is delivered to the customer’s designated freight forwarder and control is transferred to the customer.

E-commerce

The Company also generates revenue from sales on websites maintained by the Company that are shipped from the Company’s distribution centers or retail stores directly to the consumer, picked up directly by the consumer from the Company’s stores and e-commerce sales from the Company’s wholesale customers’ websites that are fulfilled on a drop-ship or first cost basis (collectively referred to as "e-commerce"). The Company transfers control and recognizes revenue for merchandise sold that is shipped directly to an individual consumer upon delivery to the consumer.

Licensing and royalty

The Company has license agreements with third parties allowing them to sell the Company’s branded product, or other merchandise that uses the Company’s owned or licensed brand names. These license agreements provide the licensee

access to the Company’s symbolic intellectual property, and revenue is therefore recognized over the license term. For royalty contracts that do not have guaranteed minimums, the Company recognizes revenue as the licensee’s sales occur. For royalty contracts that have guaranteed minimums, revenue for the guaranteed minimum is recognized on a straight-line basis during the term, until such time that the cumulative royalties exceed the total minimum guarantee. Up-front payments are recognized over the contractual term to which the guaranteed minimum relates.

Contract Balances

Revenue is recorded at the transaction price, net of estimates for variable consideration for which reserves are established, including returns, allowances and discounts. Variable consideration is estimated using the expected value method and given the large number of contracts with similar characteristics, the portfolio approach is applied to determine the variable consideration for each revenue stream. Reserves for projected returns are based on historical patterns and current expectations.

Information about significant contract balances from contracts with customers is as follows:


($ thousands)	January 30, 2021		February 1, 2020
Customer allowances and discounts	$	17,043	$	26,200
Loyalty programs liability		13,986		16,405
Returns reserve		11,040		14,033
Gift card liability		6,091		5,742

Changes in contract balances with customers generally reflect differences in relative sales volume for the period presented. In addition, during 2020, the loyalty programs liability increased $26.4 million due to points and material rights accrued for purchases and decreased $28.8 million due to expirations and redemptions. During 2019, the loyalty programs liability increased $27.8 million due to points and material rights accrued for purchases and decreased $26.0 million due to expirations and redemptions.

This ‘10-K’ Filing

Date

Other Filings

Filed on:

3/30/21

For Period end:

1/30/21

2/1/20

10-K

List all Filings

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/02/24 Caleres Inc. 10-K 2/03/24 114:18M 3/28/23 Caleres Inc. 10-K 1/28/23 112:19M 3/28/22 Caleres Inc. 10-K 1/29/22 111:19M

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 12/09/20 Caleres Inc. 10-Q 10/31/20 88:13M 6/01/20 Caleres Inc. 8-K:5,9 5/28/20 13:309K RDG Filings/FA 4/15/20 Caleres Inc. 8-K:1,2,9 4/14/20 12:443K RDG Filings/FA 3/31/20 Caleres Inc. 10-K 2/01/20 135:24M RDG Filings/FA 4/03/19 Caleres Inc. 10-K 2/02/19 135:24M 1/24/19 Caleres Inc. 8-K:1,2,9 1/23/19 2:1.4M 10/19/18 Caleres Inc. 8-K:1,2,7,910/18/18 3:626K Donnelley … Solutions/FA 9/12/18 Caleres Inc. 10-Q 8/04/18 84:13M 4/04/18 Caleres Inc. 10-K 2/03/18 133:22M 4/14/17 Caleres Inc. DEF 14A 5/25/17 1:2.2M Donnelley … Solutions/FA 3/28/17 Caleres Inc. 10-K 1/28/17 129:23M 12/14/16 Caleres Inc. 8-K:1,7,9 12/13/16 3:697K 9/07/16 Caleres Inc. 10-Q 7/30/16 73:11M 3/29/16 Caleres Inc. 10-K 1/30/16 130:23M 7/27/15 Caleres Inc. 8-K:1,2,8,9 7/27/15 5:1.2M 7/20/15 Caleres Inc. 8-K:1,7,9 7/20/15 4:826K Donnelley … Solutions/FA 6/10/15 Caleres Inc. 10-Q 5/02/15 78:13M 4/01/15 Caleres Inc. 10-K 1/31/15 122:32M 2/06/15 Caleres Inc. 8-K:5,9 2/06/15 3:194K 9/07/10 Caleres Inc. 10-Q 7/31/10 12:7.8M 3/31/09 Caleres Inc. 10-K 1/31/08 11:3.4M 4/11/08 Caleres Inc. DEF 14A 5/22/08 1:1.4M Bowne Boc/FA 4/06/06 Caleres Inc. 8-K:1,5,9 4/06/06 6:595K 9/08/04 Caleres Inc. 10-Q 7/31/04 8:439K

Caleres Inc. – ‘10-K’ for 1/30/21 – ‘R11’

On: Tuesday, 3/30/21, at 5:23pm ET · For: 1/30/21 · Accession #: 14707-21-10 · File #: 1-02191

Previous ‘10-K’: ‘10-K’ on 3/31/20 for 2/1/20 · Next: ‘10-K’ on 3/28/22 for 1/29/22 · Latest: ‘10-K’ on 4/2/24 for 2/3/24 · 27 References:

Annual Report — Form 10-K
Filing Table of Contents

‘R11’ — Revenues

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

3 Subsequent Filings that Reference this Filing

24 Previous Filings that this Filing References

Caleres Inc. – ‘10-K’ for 1/30/21 – ‘R11’

On: Tuesday, 3/30/21, at 5:23pm ET · For: 1/30/21 · Accession #: 14707-21-10 · File #: 1-02191

Annual Report — Form 10-KFiling Table of Contents

‘R11’ — Revenues

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

3 Subsequent Filings that Reference this Filing

24 Previous Filings that this Filing References

Annual Report — Form 10-K
Filing Table of Contents