Caleres (NYSE: CAL) Faces Challenges but Shows Potential for Investors
On Friday, KeyBanc analyst maintained a Sector Weight rating on Caleres (NYSE: CAL), a global footwear company, after the company's second quarter results fell short of expectations. Despite the setbacks, strategic marketing efforts and a successful promotion led to revenue growth in August. Caleres faced challenges with its SAP ERP system implementation but has since resolved the issues.
KeyBanc noted Caleres' long-term opportunities in its Brand Portfolio and international markets. The company's focus on growth and operational improvement remains strong, despite recent difficulties. Loop Capital revised its price target for Caleres to $30.00, citing lower-than-expected sales and earnings.
Caleres reported a decline in sales and earnings for the third fiscal quarter, with operational issues contributing to lost sales. The company has announced restructuring plans to enhance profitability and is confident in its growth strategies. InvestingPro data suggests that Caleres may be oversold, with a low P/E ratio and a history of dividend payments.
Despite recent price declines, analysts predict profitability for Caleres this year. Investors considering Caleres should take note of these insights and tips from InvestingPro for a better understanding of the company's potential.