Famous Footwear Parent Caleres Stock Plunges on Soft Sales
CALCaleres(CAL) Investopedia·2024-09-13 02:55

Key TakeawaysCaleres, the parent of discount shoe retailer Famous Footwear, said weak demand, a later back-to-school period, and challenges with its resource planning system hurt second-quarter results.The footwear company missed quarterly profit and sales estimates, and cut its full-year outlook.The news sent Caleres shares into negative territory for 2024. Caleres (CAL) shares plunged Thursday when the footwear company significantly missed estimates and slashed its outlook on soft demand, a later back-to- ...