.September 13, 2024 12:04:58 AM

Caleres Inc. reported Q2 2024 earnings of $683.3 million, missing the expected $723.8 million, with a significant drop in EPS to 85 cents, more than 30% below estimates. The company’s financial metrics show a P/E ratio of 6.31 and a P/S ratio of 0.38, indicating potential undervaluation. Despite a 1.5% increase in unit sales at Famous Footwear, overall sales were impacted by a 2.9% decline in comparable-store sales and a 5.1% drop in the Brand Portfolio segment. Caleres adjusted its full-year outlook downwards due to weak demand and operational challenges, acknowledging the obstacles it faces.