CAL stock touches 52-week low at $15.23 amid sharp yearly decline

In a challenging market environment, shares of Brown Shoe Company, Inc. (CAL) have reached a 52-week low, dipping to $15.23. According to InvestingPro data, the stock trades at a modest P/E ratio of 3.5 and maintains an impressive 54-year streak of consecutive dividend payments, demonstrating long-term financial stability despite current headwinds. The footwear retailer, known for its diverse portfolio of brands, has faced significant headwinds over the past year, reflected in a steep 1-year change with a decline of nearly 59.83%. Investors have shown concern as the company grapples with market pressures, leading to this new low point in its stock performance. The current price level marks a critical juncture for CAL as it navigates through the evolving retail landscape and consumer trends. With analyst price targets ranging from $17 to $25 and management actively buying back shares, InvestingPro analysis indicates the stock may be undervalued at current levels.

In other recent news, Caleres (NYSE:CAL) has revised its full-year 2024 financial outlook downward due to softer sales trends and weather-related closures at its Famous Footwear stores. The company now anticipates a decrease in consolidated net sales between 3.0% and 3.5%, with diluted earnings per share projected to range from $3.10 to $3.20. Adjusted diluted EPS is expected to be between $3.20 and $3.30, accounting for restructuring costs of $0.10 per share. Meanwhile, Loop Capital Markets maintained a Hold rating on Caleres but lowered its price target from $25 to $17, citing a negative outlook on wholesale orders and more conservative fiscal year 2025 earnings and sales estimates. Additionally, Caleres has appointed Brian Costello as the new chief merchandising officer for Famous Footwear. Costello brings extensive experience from his previous roles at Nordstrom (NYSE:JWN) and Macy’s (NYSE:M), where he managed significant footwear and accessory categories. Despite the financial revisions, Caleres remains focused on executing its strategic plan to drive shareholder value and return to growth. The company has also canceled its presentation at the 2025 Annual ICR Conference due to a scheduling conflict, although key executives will still meet with investors and analysts.

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