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In a challenging market environment, Brown Shoe Company, Inc. (CAL) has seen its stock price touch a 52-week low, reaching $16.26 USD. This downturn reflects a significant decline over the past year, with the company’s stock experiencing a steep 1-year change of -53.69%. Despite trading at an attractive P/E ratio of 3.65x, InvestingPro analysis indicates the stock is currently undervalued, with management actively buying back shares. Investors have been cautious as the footwear retailer grapples with industry headwinds, which have taken a toll on its market valuation. The 52-week low serves as a critical indicator of the current bearish sentiment surrounding the stock, as market participants weigh the potential for a rebound against ongoing concerns in the retail sector. Notably, the company has maintained dividend payments for 54 consecutive years, demonstrating long-term financial stability. For deeper insights into CAL’s valuation and 12+ additional ProTips, visit InvestingPro.
In other recent news, Caleres (NYSE:CAL) reported its third-quarter 2024 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $1.23, missing the forecasted $1.38, and revenue of $741 million, below the anticipated $753.81 million. Following this announcement, the company revised its full-year 2024 financial outlook downward, expecting a decrease in consolidated net sales between 3.0% and 3.5%. Analysts at Loop Capital maintained a Hold rating on Caleres but lowered the price target from $25 to $17, citing concerns over wholesale orders and inventory strategies. Additionally, Caleres appointed Brian Costello as the new chief merchandising officer for Famous Footwear, bringing nearly three decades of fashion industry experience to the role. The company also announced the cancellation of its presentation at the 2025 Annual ICR Conference due to a scheduling conflict. Despite these challenges, Caleres remains focused on executing its strategic plan to return to growth, including increasing sourcing outside China to 70% by 2025.
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