Caleres Inc is a footwear retailer and wholesaler that specializes in designing, sourcing, and marketing a diverse range of high-quality footwear brands
The company operates a portfolio of well-known brands, catering to various consumer demographics, including casual, athletic, and dress shoes. In addition to its branded offerings, Caleres also manages retail outlets and e-commerce platforms that provide customers with a seamless shopping experience. Through its commitment to innovation, fashion, and quality, Caleres aims to meet the evolving needs of consumers while enhancing its presence in the competitive footwear market.
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Shares of footwear company Caleres (NYSECAL)
fell 19.5% in the morning session after the company reported weak third-quarter financial results. Its revenue and EPS missed Wall Street's estimates. The company called out softer seasonal demand in some product categories. Also, there were weaknesses in some end markets, including China, and the company expects some of the weak sales trends to continue. As a result, it lowered its full-year EPS guidance. Overall, this quarter could have been better.
Footwear company Caleres (NYSECAL) fell short of the market’s revenue expectations in Q3 CY2024, with sales falling 2.8% year on year to $740.9 million. Its non-GAAP profit of $1.23 per share was 9.2% below analysts’ consensus estimates.
Caleres, Inc. (NYSECAL) reports Q3 results below expectations, with revenues of $740.9M and adjusted EPS of $1.23. Famous Footwear sales down 4.8% and company lowers FY24 guidance.
