What's Happening?
Caleres Inc., a prominent footwear company, has appointed Brian Costello as the division president of Famous Footwear, effective immediately. Costello, who joined Famous Footwear in February as chief merchandising officer, will continue to report to Caleres Inc.'s president and CEO, Jay Schmidt. His previous role involved overseeing buying and merchandising across various footwear categories for the brand's U.S. and Canada stores and e-commerce sites. Costello succeeds Mike Edwards, who resigned effective May 2, 2025. Costello brings nearly 30 years of experience in the fashion industry, having held significant positions at Macy's Inc. and Nordstrom Inc., where he led various footwear categories and was instrumental in launching Nordstromrack.com.
AD
Why It's Important?
The appointment of Brian Costello as division president is a strategic move by Caleres to bolster Famous Footwear's position as a leader in family footwear. Costello's extensive experience in merchandising and planning, coupled with his strong market relationships, is expected to drive growth and innovation within the company. This leadership change comes at a time when Caleres is executing a strategic plan to expand its brand portfolio, including the recent acquisition of Stuart Weitzman, a global luxury footwear brand. The focus on direct-to-consumer sales and the addition of new brand partners are crucial for Caleres to enhance its market reach and improve financial performance, especially after reporting a decline in net income and sales in the first quarter.
What's Next?
Under Costello's leadership, Famous Footwear is poised to leverage its existing national brand partners and integrate new ones to strengthen its market position. Caleres is expected to continue its strategic expansion, focusing on direct-to-consumer sales and global reach, particularly in the women's shoe category. The company aims to capitalize on the acquisition of Stuart Weitzman to enhance its brand portfolio and drive growth. Stakeholders will be watching how these strategic initiatives impact Caleres' financial performance and market presence in the coming quarters.
