Loop Capital lowered the firm’s price target on Caleres (CAL) to $25 from $30 and keeps a Hold rating on the shares. The company reported disappointing sales and earnings for Q3, and moving into the holiday selling season, Loop’s concerns now include the five fewer calendar days between Thanksgiving and Christmas and the potential that bootie sales lost this Fall on unfavorable weather will not come back in Q4, the analyst tells investors in a research note. Loop adds that it is also seeing cautious wholesale orders from the company’s department store and specialty shoe store customers.
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Read More on CAL:
- Caleres Inc. Reports Q3 Results and Revises Outlook
- Caleres falls -19.1%
- Caleres falls -17.9%
- Caleres falls -17.8%
- Caleres lowers 2024 adjusted EPS view to $3.45-$3.55 from $4.00-$4.15
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
