Why Caleres Stock Plunged Today

The footwear retailer's latest results disappointed the market. Shares of Caleres (CAL -18.60%), the parent of Famous Footwear and other footwear brands, were tumbling today after the company posted disappointing results in its second-quarter earnings report. As of 11:34 a.m. ET, the stock was down 19.1% on the news. Caleres misses the mark Caleres said revenue in the quarter was down 1.8% to $683.3 million, well below estimates at $723.8 million. Famous Footwear sales rose 1.5%, which included a later-than ...