Caleres Reports Third Quarter Results and Updates Guidance
Portfolio Pulse from
Caleres reported its Q3 2024 financial results, showing a 2.8% decline in sales year-on-year. Famous Footwear sales fell by 4.8%, while Brand Portfolio sales rose by 0.7%. The gross margin rate decreased by 55 basis points to 44.1%.
December 05, 2024 | 12:00 pm
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NEGATIVE IMPACT
Caleres reported a 2.8% decline in Q3 2024 sales, with Famous Footwear sales down 4.8% and Brand Portfolio sales up 0.7%. The gross margin rate decreased by 55 basis points.
The decline in overall sales and the decrease in gross margin rate are negative indicators for Caleres. The drop in Famous Footwear sales, a significant part of their business, further contributes to a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100