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Caleres Inc. (NYSE:CAL) President and CEO John W. Schmidt recently made a significant purchase of the company’s stock, according to a filing with the Securities and Exchange Commission. The purchase comes as the stock trades near its 52-week low of $13, having declined about 56% over the past year. InvestingPro data shows management has been actively buying back shares, suggesting confidence in the company’s value. On June 6, Schmidt acquired 7,600 shares of Caleres common stock at a weighted average price of $13.3919 per share. This transaction, valued at approximately $101,778, reflects Schmidt’s ongoing investment in the company. The stock currently trades at an attractive P/E ratio of 5.8x, and InvestingPro analysis suggests the stock is currently undervalued. For comprehensive insider trading analysis and 10+ additional ProTips, consider accessing the full Pro Research Report.
Following this acquisition, Schmidt holds a total of 453,480 shares directly. Additionally, he has indirect holdings, including 2,500 shares owned by his spouse and 5,940 shares through a 401(k) plan. The purchase was executed in multiple transactions, with prices ranging from $13.35 to $13.43 per share. Schmidt has committed to providing full details of the individual transactions upon request. The company maintains a strong dividend track record, having paid dividends for 55 consecutive years.
In other recent news, Caleres reported its first-quarter 2025 earnings, revealing a significant earnings miss. The company’s earnings per share (EPS) were $0.22, falling short of the forecasted $0.37, while revenue was reported at $614.2 million, slightly below the expected $622.92 million. KeyBanc Capital Markets maintained a Sector Weight rating on Caleres, noting the challenging quarter and the company’s decision to withdraw its financial guidance for fiscal year 2025. The retailer faced higher-than-anticipated tariffs, impacting its near-term sourcing strategy and pressuring margins, although it plans selective price increases to manage costs. Despite these challenges, Caleres’ Lead Brands, including Famous Footwear and Allen Edmonds, performed well, and the company observed positive trends in retail and international markets. The addition of Stuart Weitzman as a Lead Brand is set for summer 2025, potentially strengthening Caleres’ brand portfolio. The company remains focused on cost management and sourcing strategies amid tariff uncertainties, with the suspension of full-year guidance reflecting ongoing challenges. Caleres is cautiously optimistic about the back-to-school season and continues to invest in its international business.
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