Tue. Nov 12th, 2019

Footwear company Caleres stock rallies 24% after earnings top estimates

1 min read

Caleres Inc. shares

CAL, +26.31%

rallied more than 24% Tuesday, after the owner of footwear brands including Famous Footwear, Sam Edelman, Naturalizer, Allen Edmonds, Vionic, Dr. Scholl’s Shoes, Franco Sarto, and more beat estimates for second-quarter earnings. St. Louis-based Caleres said it had net income of $25.3 million, or 61 cents a share, up from $23.6 million, or 55 cents a share, in the year-earlier period. Adjusted per-share earnings came to 62 cents, ahead of the 58 cents FactSet consensus. Sales rose 6.5% to $752.5 million, matching the FactSet consensus. Same-store sales rose 1.5% at Famous Footwear, while total sales at the brand came to $359.6 million. Shares have fallen 32% in 2019, while the S&P 500

SPX, +0.51%

has gained 15%.

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