Investors responded favorably to this footwear stock's Q2/19 results, elevating the stock price 24% on Tuesday. However, the stock is still down quite a bit from its 6-month and 1-year highs.
Footwear company Caleres Inc. (CAL:NYSE) reported an assortment of positive financial results, most notably $0.62 earnings per share, which beat the $0.58 FactSet consensus handily.
Also included in the Q2 report were record sales of $752.5 million, up 6.5% year-over-year. Total sales came to $359.6 million, and same-store sales rose 1.5% at Famous Footwear.
The 3/4-billion-dollar market cap company owns quite a few popular shoe brands, including Dr. Scholl's, Naturalizer, Sam Edelman, Vionic, Franco Sarto and more.
Is there still room to run in this shoe stock rally? Despite the large and rapid surge of 24% up to $19.90/share on Tuesday, Caleres' stock price is still below the 6-month high of $31.10 and well below the 1-year high of $40.48. Time will tell, but for now, this shoe company is putting its best foot forward.
Disclosure:
1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.