CAL stock touches 52-week low at $15.31 amid market challenges

In a turbulent market environment, Brown Shoe Company, Inc. (CAL) has seen its stock price descend to a 52-week low, reaching a nadir of $15.31. According to InvestingPro data, the company trades at a modest 3.55x earnings multiple and maintains a remarkable 54-year streak of consecutive dividend payments. This significant downturn reflects a stark contrast from its performance over the past year, with the company’s shares experiencing a precipitous decline of nearly 59.83%. Investors have been closely monitoring CAL as it navigates through a challenging retail landscape, which has been exacerbated by shifting consumer trends and competitive pressures. The 52-week low serves as a critical indicator of the stock’s current volatility and the broader headwinds facing the footwear industry. Despite current challenges, analyst price targets range from $17 to $28, suggesting potential upside, and InvestingPro analysis indicates the stock may be undervalued at current levels. For deeper insights, investors can access comprehensive valuation metrics and 12 additional ProTips through InvestingPro’s detailed research report.

In other recent news, Caleres (NYSE:CAL) has reported its third-quarter 2024 earnings, revealing that both earnings per share (EPS) and revenue fell short of analyst expectations. The company posted an EPS of $1.23, compared to the projected $1.38, and revenue amounted to $741 million, below the anticipated $753.81 million. Following this announcement, Caleres adjusted its full-year 2024 financial outlook downward, citing softer sales trends and weather-related closures as primary reasons. The company now expects a decrease in consolidated net sales ranging from 3.0% to 3.5% and projects diluted EPS to be between $3.10 and $3.20.

Additionally, Loop Capital has downgraded its price target for Caleres from $25 to $17 while maintaining a Hold rating, reflecting concerns about wholesale orders and the company’s sales momentum. In executive news, Caleres announced the appointment of Brian Costello as the new chief merchandising officer for Famous Footwear, bringing nearly three decades of experience from Nordstrom (NYSE:JWN) and Macy’s (NYSE:M). Despite these challenges, Caleres remains focused on strategic growth, including increasing non-China sourcing to 70% by 2025. The company also canceled its presentation at the 2025 Annual ICR Conference but will still meet with investors and analysts. These developments come amid various risks and uncertainties, including economic conditions and supply chain disruptions, which could impact Caleres’ performance.

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