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Caleres stock plummets on softer sales

bizjournals Friday, 14 February 2020
Clayton-based footwear company Caleres Inc. late Thursday reported preliminary fourth-quarter results indicating that net sales fell 3%, sending its stock down more than 16% by midday Friday, to $14.95 a share. Caleres said net sales were $700 million for its fiscal fourth quarter ended Feb. 1. The company's retail subsidiary, Famous Footwear, was a bright spot for the company, with same-store sales rising 5.1%. "...Holiday sales at a number of our retail partners were disappointing and our selling…

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