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Famous Footwear Parent Caleres Stock Plunges on Soft Sales
Key Takeaways Caleres, 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.
Here's How Last-Minute Shoppers Impacted Famous Footwear's Back-to-School Sales in Q2
According to Jay Schmidt, president and chief executive officer of Caleres, the delay in sales for back-to-school shifted late into Q2 and into the start of Q3 due to changing con
Famous Footwear Parent is Latest Footwear Retailer to Lower 2024 Guidance
Famous Footwear parent company Caleres, Inc. became the latest retailer to lower its fiscal full-year guidance after reporting second-quarter fiscal 2024 sales and earnings. The company reported sales of $683.3 million, down 1.8 percent year-over-year (y/y). Direct-to-consumer sales represented approximately 75 percent of total net sales.
Why Caleres Stock Plunged Today
Caleres missed estimates on the top and bottom lines in its Q2 report. It also cut its guidance for the full year. The stock is cheap, and a rebound in consumer demand could lead to a recovery. Caleres said revenue in the quarter was down 1.
Post-Bulletin
10d
Car crashes into Famous Footwear in north Rochester
ROCHESTER — Emergency crews were called to the Famous Footwear in north Rochester on Monday evening, Sept. 16, after a car ...
KTTC
10d
Car crashes into Famous Footwear in northwest Rochester, injures one
ROCHESTER, Minn. (KTTC) – Crews are responding to a car that crashed into Rochester’s Famous Footwear. KTTC crew on scene ...
13h
Marble Falls sets plans for massive $130 retail, dining development
Marble Falls is planning a $130 million retail development, The Shops at Flatrock Crossing, featuring Academy, James Avery, ...
8h
Shaq Is Now Selling Performance Basketball Sneakers for $40
The newest line of Shaq footwear includes three performance basketball shoes priced from $40 to $50 and a lifestyle model ...
KIMT
10d
74-year-old woman hit by car that crashed into Famous Footwear, driver cited
A 74-year-old female pedestrian walking in a crosswalk was struck by a vehicle. The vehicle proceeded to go into the ...
Traverse City Record-Eagle
26d
Celebrity shoes: East Jordan Shoe Club inspires students with famous footwear
Those shoes sit on shelves across the classroom from all the
famous footwear
. Despite the fact Hamilton’s classroom is lined with the shoe’s of
famous
musicians, athletes and change-makers ...
10h
IPath Sneakers Are Back, But Does It Matter?
The brand had a strong run early on, but sold to Timberland in 2007 and was discontinued in 2013—by then, IPath was a former ...
KAAL TV
9d
One injured as car crashes into Famous Footwear in Rochester
A 74-year-old woman pedestrian walking in a crosswalk was struck by a vehicle, and the vehicle proceeded to go into the ...
2d
Swedish Orthopedic Footwear Brand Stinaa.J Makes US Market Debut at Nordstrom and Bloomingdale’s
Swedish orthopedic footwear brand Stinaa.J has made its way stateside with a slate of new retail partners.
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