NVIDIA launches Jetson Thor robotics computers for physical AI systems
In a notable shift within the retail sector, Brown Shoe Company, Inc. (CAL) stock has touched a 52-week low, dipping to $27.09. According to InvestingPro data, the company maintains strong fundamentals with a P/E ratio of 7.1x and an overall financial health rating of "GOOD." Despite broader market turbulence, this marks a significant point for investors tracking the company's performance. Over the past year, Brown Shoe has experienced a substantial change, with its stock value witnessing an 18.02% increase. This juxtaposition of a 52-week low against a strong yearly growth encapsulates the complex dynamics at play in the current economic landscape, where individual stock trajectories can diverge sharply from their longer-term trends. Notable strengths include a 54-year track record of consistent dividend payments, and InvestingPro analysis indicates the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, footwear retailer Caleres (NYSE:CAL) reported third-quarter results that did not meet expectations, leading to a significant reduction in its full-year outlook. The company's adjusted earnings per share for Q3 were $1.23, falling short of analyst estimates of $1.38. Revenue was reported at $740.9 million, beneath the consensus forecast of $753.81 million and a decrease of 2.8% year-over-year. Caleres has revised its fiscal 2024 earnings guidance to a range of $3.45-$3.55 per share, notably lower than its previous outlook of $4.00-$4.15 and the analyst consensus of $4.03. The company's full-year net sales are now expected to decrease by 2.5-3%, compared to its prior forecast of a low-single-digit percentage drop. CEO Jay Schmidt attributed the weaker-than-expected Q3 performance to factors such as softer seasonal demand in the boot category, late receipts of key athletic product at Famous Footwear, and a discrete customer credit issue that impacted shipments. Despite these challenges, Schmidt noted that the company's strategies are working to drive market share and align expenses with expected sales.
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