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Caleres (CAL)

Market Price (12/26/2025): $13.15 | Market Cap: $427.6 Mil
Sector: Consumer Discretionary | Industry: Apparel Retail

Caleres (CAL)

Market Price (12/26/2025): $13.15
Market Cap: $427.6 Mil
Sector: Consumer Discretionary
Industry: Apparel Retail

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 2.2%		 Weak multi-year price returns
2Y Excs Rtn is -103%, 3Y Excs Rtn is -114%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 217%
1 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Online Marketplaces, Show more.		  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%
2   Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21%
3   Key risks
CAL key risks include [1] sharply deteriorating financial performance, Show more.
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, Dividend Yield is 2.2%
1 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Sustainable Consumption. Themes include Direct-to-Consumer Brands, Online Marketplaces, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -103%, 3Y Excs Rtn is -114%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 217%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.8%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%
5 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 21%
6 Key risks
CAL key risks include [1] sharply deteriorating financial performance, Show more.

Valuation, Metrics & Events

CAL Stock

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

The stock of Caleres (CAL) experienced a notable decline of approximately 11.9% within the requested timeframe, from August 31, 2025, to December 26, 2025. This downturn can be attributed to several key factors, primarily related to the company's recent financial performance and outlook.

1. Missed Q3 2025 EPS Forecast and Lowered Full-Year Guidance: Caleres reported its third-quarter 2025 earnings with an adjusted EPS of $0.38, significantly missing the analyst forecast of $0.85. This substantial earnings miss, despite a revenue beat, led to a negative market reaction, with the stock falling by 15.49% in pre-market trading following the announcement on December 9, 2025. The company also drastically lowered its full-year adjusted earnings guidance to a midpoint of $0.58 per share, a considerable miss compared to the Wall Street consensus.

2. Gross Margin Pressure and Tariff Impact: The company faced significant pressure on its gross margin, which was reported at 41.8% in Q3 2025, down 230 basis points from the previous year. This decline was primarily attributed to increased tariffs and integration costs associated with the acquisition of Stuart Weitzman. In the Q2 2025 results, announced on September 4, 2025, gross margin was also down 210 basis points due to tariff-related costs and inventory markdowns. Caleres anticipated ongoing gross margin pressure from tariffs for the remainder of fiscal 2025.

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Stock Movement Drivers

Fundamental Drivers

The -1.2% change in CAL stock from 9/25/2025 to 12/25/2025 was primarily driven by a -65.7% change in the company's Net Income Margin (%).
925202512252025Change
Stock Price ($)13.3113.15-1.20%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2652.912702.021.85%
Net Income Margin (%)2.26%0.78%-65.69%
P/E Multiple7.2120.39182.94%
Shares Outstanding (Mil)32.4932.52-0.08%
Cumulative Contribution-1.20%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025
ReturnCorrelation
CAL-1.2% 
Market (SPY)4.9%52.7%
Sector (XLY)3.8%63.1%

Fundamental Drivers

The 6.5% change in CAL stock from 6/26/2025 to 12/25/2025 was primarily driven by a 322.8% change in the company's P/E Multiple.
626202512252025Change
Stock Price ($)12.3413.156.52%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2677.712702.020.91%
Net Income Margin (%)3.11%0.78%-75.04%
P/E Multiple4.8220.39322.83%
Shares Outstanding (Mil)32.5232.520.01%
Cumulative Contribution6.52%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025
ReturnCorrelation
CAL6.5% 
Market (SPY)13.1%47.5%
Sector (XLY)14.2%57.1%

Fundamental Drivers

The -42.2% change in CAL stock from 12/25/2024 to 12/25/2025 was primarily driven by a -86.4% change in the company's Net Income Margin (%).
1225202412252025Change
Stock Price ($)22.7513.15-42.19%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2780.582702.02-2.83%
Net Income Margin (%)5.69%0.78%-86.35%
P/E Multiple4.8120.39323.93%
Shares Outstanding (Mil)33.4432.522.74%
Cumulative Contribution-42.24%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025
ReturnCorrelation
CAL-42.2% 
Market (SPY)15.8%47.4%
Sector (XLY)5.3%54.7%

Fundamental Drivers

The -37.5% change in CAL stock from 12/26/2022 to 12/25/2025 was primarily driven by a -86.9% change in the company's Net Income Margin (%).
1226202212252025Change
Stock Price ($)21.0413.15-37.49%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)2950.992702.02-8.44%
Net Income Margin (%)5.92%0.78%-86.90%
P/E Multiple4.1420.39392.78%
Shares Outstanding (Mil)34.3832.525.41%
Cumulative Contribution-37.67%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025
ReturnCorrelation
CAL-57.0% 
Market (SPY)48.3%41.5%
Sector (XLY)38.1%44.6%

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
CAL Return-32%47%-1%39%-24%-44%-40%
Peers Return-8%51%-28%11%45%-14%38%
S&P 500 Return16%27%-19%24%23%18%115%

Monthly Win Rates [3]
CAL Win Rate50%58%42%75%50%42% 
Peers Win Rate53%63%40%55%50%47% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
CAL Max Drawdown-86%-7%-21%-22%-26%-58% 
Peers Max Drawdown-66%-6%-44%-27%-21%-57% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DECK, SHOO, DBI, GCO, WWW. See CAL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique KeyEventCALS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-43.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven76.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven182 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-86.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven624.1%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven394 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-64.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven178.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1,683 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-94.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven1655.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3,450 days1,480 days

Compare to SHOO, GES, SCVL, TJX, ROST

In The Past

Caleres's stock fell -43.3% during the 2022 Inflation Shock from a high on 8/18/2022. A -43.3% loss requires a 76.2% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Caleres (CAL)

Caleres, Inc. engages in the retail and wholesale of footwear in the United States, Canada, China, and Guam. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products to women, men, and children. Its retail shoe stores provide brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Converse, Crocs, Puma, Birkenstock, New Balance, Asics, New Balance, Under Armour, Bearpaw, Timberland, Sperry, and Dr. Martens, as well as company-owned and licensed brands, such as Dr. Scholl's Shoes, Blowfish Malibu, LifeStride, Naturalizer, Zodiac, Circus by Sam Edelman, Franco Sarto, and Ryka. The company also operates naturalizer.com, naturalizer.ca, vionicshoes.com, samedelman.com, allenedmonds.com, drschollsshoes.com, lifestride.com, francosarto.com, ryka.com, bzees.com, and zodiacshoes.com, as well as Vince.com, blowfishshoes.com, and veronicabeard.com websites. In addition, it designs, sources, manufactures, and markets footwear to retail stores, such as national chains, online retailers, department stores, mass merchandisers, independent retailers, and catalogs. Further, the company wholesales men's apparel, leather goods, and accessories under the Allen Edmonds brand; footwear for women under LifeStride brand; Italian footwear Franco Sarto brand; athletic footwear for women under the Rykä brand; women's shoe collection under the Vince brand; and women's footwear under the Bzees brand; other footwear under Zodiac brand; and women's footwear collection under Veronica Beard brand, as well as Via Spiga brand. It operates approximately 980 retail stores. The company was formerly known as Brown Shoe Company, Inc. Caleres, Inc. was founded in 1878 and is headquartered in St. Louis, Missouri.

AI Analysis | Feedback

  • Like a Gap Inc. for shoes, managing a portfolio of footwear brands (e.g., Sam Edelman, Naturalizer) and operating a large retail chain (Famous Footwear).
  • A VF Corp (parent of Vans, The North Face) focused purely on footwear, that also operates a major national shoe retail chain.
  • An Estée Lauder for footwear, also operating its own large chain of shoe stores like Famous Footwear.

AI Analysis | Feedback

  • Branded Footwear: Caleres designs, markets, and sells a diverse portfolio of women's, men's, and children's shoes under owned and licensed brands, including Sam Edelman, Naturalizer, and Allen Edmonds.
  • Multi-Brand Footwear Retail: Through its Famous Footwear stores and e-commerce site, the company offers a broad selection of athletic, casual, and dress footwear from numerous national and private-label brands.

AI Analysis | Feedback

Caleres (Symbol: CAL)

Caleres (CAL) sells primarily to individuals through its diverse portfolio of brands and retail channels. Its largest segment, Famous Footwear, operates as a family footwear retailer directly serving consumers. Additionally, its Brand Portfolio segment, which includes brands like Sam Edelman, Naturalizer, Vionic, and Allen Edmonds, sells directly to consumers through e-commerce sites and brand-owned retail stores, alongside its wholesale operations.

The company serves the following categories of individual customers:

  • Families and Value-Oriented Shoppers: These customers are typically seeking a wide selection of branded footwear for all ages (men, women, and children), often at competitive prices and with a focus on convenience. This segment is primarily served by Famous Footwear.
  • Fashion-Forward and Comfort-Seeking Adults (Primarily Women): This group desires stylish, comfortable, and versatile footwear for various occasions, from everyday wear to professional settings and special events. Brands like Sam Edelman, Naturalizer, and Vionic cater to this customer base, often emphasizing current trends, specific comfort technologies, or ergonomic designs.
  • Discerning Professionals and Luxury Consumers (Primarily Men): These customers value high-quality materials, craftsmanship, durability, and classic styling, particularly for business, formal events, and premium casual wear. Allen Edmonds specifically targets this segment with its heritage of fine men's dress and casual shoes.

AI Analysis | Feedback

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Jay Schmidt, President and Chief Executive Officer

  • Jay Schmidt assumed the role of Chief Executive Officer in January 2023, following a carefully planned succession process.
  • He joined Caleres in 2008 and has held several leadership positions within the company, including Senior Vice President/General Manager Image Brands, President Contemporary Fashion, and President Brand Portfolio.
  • In 2020, he was named President, taking on responsibility for the consumer and brand strategy across the entire Caleres portfolio.
  • Prior to his tenure at Caleres, Schmidt accumulated over 25 years of extensive experience in merchandising, portfolio management, and brand marketing, with significant roles at Nine West Group (ten years), Lord & Taylor, May Merchandising Corporation, and Macy's.

Jack Calandra, Senior Vice President, Chief Financial Officer

  • Jack Calandra was appointed Senior Vice President and Chief Financial Officer of Caleres, effective September 12, 2022.
  • In this role, he oversees the company's finance, accounting, investor relations, external reporting, treasury, and tax functions.
  • Before joining Caleres, Calandra served as CFO of a.k.a. Brands in 2021.
  • He previously held the position of Executive Vice President, Chief Financial Officer, and Treasurer for Tailored Brands Inc. from 2017 to 2020.
  • His career also includes more than a decade at Gap Inc. (2005-2016), where he held various executive finance positions, including Senior Vice President of Corporate Finance and Investor Relations, and Senior Vice President and CFO of Banana Republic Global.
  • Earlier in his career, Calandra gained experience in diverse finance roles at Unilever.

Diane M. Sullivan, Chairman

  • Diane M. Sullivan became the Chairman of Caleres in January 2023.
  • She previously served as the Chief Executive Officer of the company from February 2014 to January 2023.
  • Sullivan joined Caleres as President in 2004, and her responsibilities expanded to include Chief Operating Officer in 2006.
  • Before her time at Caleres, she was Vice Chairman of the Footwear Group at Phillips-Van Heusen.
  • Her extensive experience also includes serving as President and COO of The Stride Rite Corporation, as well as holding consumer brand management and sales roles at M&M/Mars and The Mennen Company.

Michael Edwards, President, Famous Footwear

  • Michael Edwards was named President of Famous Footwear, Caleres' largest brand, effective November 20, 2020.
  • He joined Caleres in 2008 and has held various roles of increasing responsibility within Famous Footwear.
  • His prior positions include Senior Vice President of Digital Commerce, Planning, Allocation and Stores, Chief Customer Officer, Senior Vice President of Merchandise Planning and Analytics, and Vice President, Sales and Store Operations.
  • Before joining Caleres, Edwards held operational, merchandising, and financial roles at the May Company and served as an account executive at Laclede Steel Company.

Keith Duplain, Division President, Brand Portfolio - St. Louis Group

  • Keith Duplain serves as the Division President, Brand Portfolio - St. Louis Group at Caleres.

AI Analysis | Feedback

The key risks to Caleres (symbol: CAL) are primarily centered on its deteriorating financial performance, supply chain vulnerabilities, and challenges associated with its recent acquisition.

  1. Deteriorating Fundamentals and Profitability Issues: Caleres has experienced significant financial downturns, including sales declines, inventory bloat, and considerable margin pressures. The company reported a 6.8% sales decline in Q1 2025, and earnings per share fell by nearly 40%, missing estimates. This underperformance also stemmed from rising bad debt write-offs and reduced margins. The company's operating margin contracted significantly to 1.5% in a recent quarter from 8% in the same period last year, indicating that expenses grew faster than revenue. Management also cited "uncertainty in the environment" for suspending full-year guidance, further unsettling investors. The continuous gross margin compression, driven by tariff-related costs, promotions, and higher provisions for inventory markdowns, remains an immediate financial stressor.

  2. Supply Chain and Sourcing Risks: Caleres heavily relies on international sourcing through third-party manufacturing for its footwear, exposing it to various uncertainties. These include trade relations, work stoppages, shipping delays, foreign currency fluctuations, military conflicts, and increased costs from customs duties, quotas, tariffs, and anti-dumping duties. In past periods, the company faced inventory delays and higher freight costs due to port congestion, supply chain disruptions, and inflationary pressures, leading to a significant rise in in-transit inventory. Tariffs, in particular, have negatively impacted margins, with an estimated 175 basis point drag on the brand portfolio's gross margin, partially offset by price increases and supplier negotiations.

  3. Increased Debt and Integration Challenges: Caleres's debt has increased, partly due to strategic maneuvers such as the acquisition of Stuart Weitzman. The company's borrowings climbed to $258.5 million in Q1 2025, and total debt reached $387.5 million by August 2025, up from $146.5 million a year prior. While the acquisition is intended to bolster the Brand Portfolio, it has introduced integration and inventory costs, temporarily diluting earnings. The realization of most synergies and cost savings from the Stuart Weitzman acquisition is not expected until 2026, once system integration is complete and duplicative functions are eliminated. The company's ability to cover its debt with operating cash flow has also been flagged as a concern.

AI Analysis | Feedback

The emergence and rapid growth of digitally native, direct-to-consumer (DTC) footwear brands. These brands often leverage online channels and social media to build strong customer relationships, offer unique value propositions (e.g., sustainability, specialized comfort), and bypass traditional wholesale and retail distribution models, directly competing with Caleres' portfolio of brands and its Famous Footwear retail operations.

AI Analysis | Feedback

Caleres (symbol: CAL) operates primarily in the footwear market, encompassing the design, sourcing, manufacturing, and distribution of a diverse portfolio of branded, licensed, and private-label footwear for women, men, and children through its Famous Footwear retail stores, e-commerce platforms, and wholesale channels.

The addressable markets for Caleres' main products are as follows:

  • Global Footwear Market: The global footwear market size was valued at approximately USD 463.87 billion in 2024. It is projected to grow to about USD 789.52 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 6.88% from 2025 to 2032. Another estimate places the global market at USD 700.90 billion in 2024, with a projection to reach USD 1100.38 billion by 2032 at a CAGR of 5.80%.
  • U.S. Footwear Market: The United States footwear market size was approximately USD 94.7 billion in 2024. This market is expected to reach USD 119.0 billion by 2033, demonstrating a CAGR of 2.6% during the period of 2025-2033. Other reports indicate the U.S. footwear market was valued at USD 95.1 billion in 2024 and is anticipated to grow by 3.7% from 2025 to 2032, reaching USD 125.7 billion by 2032.

AI Analysis | Feedback

Caleres (CAL) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market dynamics:

  1. Acquisition of Stuart Weitzman: Caleres announced the acquisition of Stuart Weitzman, which is anticipated to close in the summer of 2025. This acquisition will expand Caleres's brand portfolio and is expected to contribute to future revenue.
  2. Growth of Lead Brands and Brand Portfolio: The company has consistently highlighted the strong performance and market share gains of its "Lead Brands" within its Brand Portfolio segment. Strategic investments in marketing and a focus on newness within these brands are expected to continue driving revenue growth.
  3. Expansion of Direct-to-Consumer (DTC) Channels: Direct-to-consumer sales represent a significant portion of Caleres's total net sales, ranging from approximately 70% to 75%. Continued optimization and growth in these higher-margin channels, particularly within the Brand Portfolio, are anticipated to be a key revenue driver.
  4. International Business Expansion: Caleres has identified the expansion of its international business as a strategic investment and has noted improving momentum in this area. This geographical expansion is expected to open new markets and contribute to overall revenue growth.
  5. Market Share Gains in Key Product Categories: Caleres has reported gaining market share in women's fashion footwear and has seen growing penetration of sneakers. By focusing on consumer-driven product assortments and responding to market trends, the company aims to continue capturing a larger share in these profitable categories.

AI Analysis | Feedback

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Share Repurchases

  • In fiscal 2024, Caleres returned $74.7 million to shareholders through a combination of dividends and share repurchases.
  • During fiscal 2023, the company repurchased 763,000 shares of common stock for $17.4 million, at an average price of $22.86 per share.
  • Caleres executed share repurchases of $63.2 million in fiscal year 2022 and $17.0 million in fiscal year 2021.

Outbound Investments

  • Caleres announced plans to acquire Stuart Weitzman for $105 million, with the transaction expected to close in the summer of 2025.
  • In November 2021, Caleres acquired the remaining interest in Blowfish Malibu.

Capital Expenditures

  • For fiscal year 2025, Caleres anticipates capital expenditures to be in the range of $50 million to $55 million.
  • Capital expenditures were approximately $49.1 million in fiscal 2024, $44.6 million in fiscal 2023, and $55.9 million in fiscal 2022.
  • These expenditures have primarily focused on investing in new and remodeled stores, particularly the kids' department, enhancing the in-store shopping experience, and developing a "One Caleres" marketing ecosystem encompassing digital marketing, loyalty, data, and analytics.
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Better Bets than Caleres (CAL)

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1Caleres Earnings Notes 
2Caleres Stock Jump Looks Great, But How Secure Is That Gain?Return
3Caleres Total Shareholder Return (TSR): -39.6% in 2025 and -4.6% 3-yr compounded annual returns (above peer average) 
4Caleres vs. S&P500 CorrelationCorrelation
5Caleres Price VolatilityVolatility
6Caleres vs. Skechers U.S.A.: With Return Forecast Of 24%, Skechers U.S.A. Is A Better BetPeer Comparison
7Better Bet Than CAL Stock: Pay Less Than Caleres To Get More From Stocks AGCO, CTRA, ALB, ARW, CF Better Bets
8Better Bet Than CAL Stock: Pay Less Than Caleres To Get More From S&P 500 Stocks JPM, PNC, TFC, MS, GS Better Bets
9Better Bet Than CAL Stock: Pay Less Than Caleres To Get More From Sector Peers PHM, LAD, R, GM, AN Better Bets
10Better Bet Than CAL Stock: Pay Less Than Caleres To Get More From Stocks ATKR, CF, ARW, CMC, TMHC Better Bets
Title
0ARTICLES

Trade Ideas

Select ideas related to CAL. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE11302025BBWIBath & Body WorksDip BuyDB | Insider Buys | Low D/EDip Buy with Strong Insider Buying
Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		13.3%13.3%0.0%
HRB_11262025_Dip_Buyer_FCFYield11262025HRBH&R BlockDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		5.3%5.3%-0.1%
LRN_11262025_Dip_Buyer_FCFYield11262025LRNStrideDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.4%3.4%-4.4%
ABNB_11212025_Dip_Buyer_FCFYield11212025ABNBAirbnbDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		19.7%19.7%0.0%
MTN_11212025_Dip_Buyer_FCFYield11212025MTNVail ResortsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		1.8%1.8%-1.6%

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Peer Comparisons for Caleres

Peers to compare with:

Financials

CALDECKSHOODBIGCOWWWMedian
NameCaleres Deckers .Steven M.Designer.Genesco Wolverin. 
Mkt Price13.15100.9542.767.6223.3117.7220.52
Mkt Cap0.415.13.00.40.21.40.9
Rev LTM2,7025,1252,3632,8932,3821,8522,542
Op Inc LTM601,21286291914173
FCF LTM11880133100235477
FCF 3Y Avg8680420511020180145
CFO LTM699681751388976114
CFO 3Y Avg14289323315978202180

Growth & Margins

CALDECKSHOODBIGCOWWWMedian
NameCaleres Deckers .Steven M.Designer.Genesco Wolverin. 
Rev Chg LTM-2.8%15.5%6.4%-5.2%2.8%3.6%3.2%
Rev Chg 3Y Avg-2.9%16.3%2.7%-5.0%-0.0%-10.6%-1.5%
Rev Chg Q6.6%16.9%6.9%-3.2%3.3%6.8%6.7%
QoQ Delta Rev Chg LTM1.9%2.8%1.9%-0.8%0.8%1.7%1.8%
Op Mgn LTM2.2%23.6%3.7%1.0%0.8%7.6%2.9%
Op Mgn 3Y Avg5.2%21.3%8.6%1.8%0.8%3.4%4.3%
QoQ Delta Op Mgn LTM-1.5%-0.0%-2.2%0.1%0.1%0.6%0.0%
CFO/Rev LTM2.6%18.9%7.4%4.8%3.8%4.1%4.4%
CFO/Rev 3Y Avg5.1%20.2%11.0%5.2%3.3%9.8%7.5%
FCF/Rev LTM0.4%17.2%5.6%3.5%1.0%2.9%3.2%
FCF/Rev 3Y Avg3.1%18.1%9.7%3.6%0.9%8.7%6.2%

Valuation

CALDECKSHOODBIGCOWWWMedian
NameCaleres Deckers .Steven M.Designer.Genesco Wolverin. 
Mkt Cap0.415.13.00.40.21.40.9
P/S0.22.91.30.10.10.80.5
P/EBIT10.911.835.110.119.710.111.3
P/E20.415.253.9-14.26,176.616.318.3
P/CFO6.215.617.32.72.719.010.9
Total Yield7.1%6.6%3.9%-4.5%0.0%8.4%5.2%
Dividend Yield2.2%0.0%2.0%2.5%0.0%2.3%2.1%
FCF Yield 3Y Avg9.0%4.7%7.7%26.0%7.1%20.5%8.4%
D/E2.20.00.23.42.50.61.4
Net D/E2.2-0.10.13.22.40.51.3

Returns

CALDECKSHOODBIGCOWWWMedian
NameCaleres Deckers .Steven M.Designer.Genesco Wolverin. 
1M Rtn12.9%18.1%3.4%94.0%-33.2%10.3%11.6%
3M Rtn-1.2%-4.6%31.4%108.9%-24.1%-36.5%-2.9%
6M Rtn6.5%-1.0%81.5%222.8%13.9%-2.2%10.2%
12M Rtn-42.2%-51.5%3.9%47.5%-43.0%-21.1%-31.7%
3Y Rtn-37.5%55.0%41.2%-14.5%-47.2%86.8%13.4%
1M Excs Rtn20.7%18.1%2.3%107.0%-31.9%11.5%14.8%
3M Excs Rtn-6.2%-9.6%26.4%103.9%-29.1%-41.5%-7.9%
6M Excs Rtn-6.4%-13.8%68.6%209.9%1.0%-15.0%-2.7%
12M Excs Rtn-60.1%-69.0%-14.3%26.4%-60.4%-38.4%-49.2%
3Y Excs Rtn-113.5%-16.5%-37.2%-93.5%-125.8%13.9%-65.4%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Famous Footwear1,6091,7051,7481,2641,588
Brand Portfolio1,2711,3231,0819021,334
Eliminations and Other-63-60-52-49 
Total2,8172,9682,7782,1172,922


Operating Income by Segment
$ Mil20252024202320222021
Brand Portfolio14511236-40858
Famous Footwear124196276-2477
Eliminations and Other-75-94-107-53-31
Total194214206-486104


Assets by Segment
$ Mil20252024202320222021
Brand Portfolio8629219448511,384
Famous Footwear771768705766891
Eliminations and Other171148195250157
Total1,8051,8361,8441,8672,432


Price Behavior

Price Behavior
Market Price$13.15 
Market Cap ($ Bil)0.4 
First Trading Date09/07/1984 
Distance from 52W High-43.4% 
   50 Days200 Days
DMA Price$12.08$14.06
DMA Trenddowndown
Distance from DMA8.9%-6.5%
 3M1YR
Volatility63.4%62.9%
Downside Capture282.20212.86
Upside Capture215.30128.70
Correlation (SPY)52.9%47.2%
CAL Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta2.683.022.732.931.531.34
Up Beta0.611.862.352.681.691.46
Down Beta-1.773.323.363.520.811.04
Up Capture507%291%159%256%142%144%
Bmk +ve Days12253873141426
Stock +ve Days10202759113363
Down Capture317%314%290%266%152%109%
Bmk -ve Days7162452107323
Stock -ve Days9213464132379

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of CAL With Other Asset Classes (Last 1Y)
 CALSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-40.4%8.3%19.2%71.9%8.9%6.0%-10.1%
Annualized Volatility62.7%24.3%19.5%19.3%15.3%17.1%35.0%
Sharpe Ratio-0.580.270.782.690.360.18-0.12
Correlation With Other Assets 54.3%47.4%-6.6%13.2%38.2%25.4%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of CAL With Other Asset Classes (Last 5Y)
 CALSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return1.4%9.8%14.9%18.7%11.7%4.8%32.7%
Annualized Volatility55.6%23.8%17.1%15.5%18.7%18.9%48.7%
Sharpe Ratio0.240.370.700.970.510.170.60
Correlation With Other Assets 44.3%41.0%-2.3%13.7%33.3%16.6%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of CAL With Other Asset Classes (Last 10Y)
 CALSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-6.1%13.1%14.7%14.9%6.9%5.2%69.3%
Annualized Volatility61.6%22.0%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio0.160.550.700.830.310.220.90
Correlation With Other Assets 43.6%38.5%-7.0%19.1%34.4%11.4%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity6,973,498
Short Interest: % Change Since 11302025-13.2%
Average Daily Volume1,367,896
Days-to-Cover Short Interest5.10
Basic Shares Quantity32,519,000
Short % of Basic Shares21.4%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/9/2025-5.6%1.1% 
9/4/2025-4.7%4.7%-9.1%
5/29/2025-18.3%-18.6%-23.0%
3/20/20252.7%7.7%-6.5%
12/5/2024-20.0%-21.5%-34.1%
9/12/2024-18.8%-11.3%-14.7%
5/30/2024-1.3%-7.6%-8.2%
3/19/20242.1%2.4%-10.3%
...
SUMMARY STATS   
# Positive13128
# Negative111216
Median Positive7.4%5.7%14.7%
Median Negative-8.4%-11.8%-14.7%
Max Positive29.9%34.2%39.1%
Max Negative-20.5%-26.9%-72.4%

SEC Filings

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Report DateFiling DateFiling
103120251211202510-Q 11/1/2025
7312025909202510-Q 8/2/2025
4302025610202510-Q 5/3/2025
1312025401202510-K 2/1/2025
103120241211202410-Q 11/2/2024
7312024912202410-Q 8/3/2024
4302024611202410-Q 5/4/2024
1312024402202410-K 2/3/2024
103120231205202310-Q 10/28/2023
7312023905202310-Q 7/29/2023
4302023606202310-Q 4/29/2023
1312023328202310-K 1/28/2023
103120221206202210-Q 10/29/2022
7312022906202210-Q 7/30/2022
4302022607202210-Q 4/30/2022
1312022328202210-K 1/29/2022

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