2024-03-13 15:18:30 ET
Summary
- Caleres is an integrated footwear retailer and brand manager. The company owns 900 Famous Footwear stores and 12 footwear brands.
- Caleres pre- and post-pandemic operations have been good, with a special mention of weathering the current context with relative revenue and margin health.
- On the other hand, current margins are above their historical averages.
- The company's valuation, even assuming higher than historical margins, does not offer an opportunity at these prices.
Caleres, Inc. ( CAL ) is an integrated footwear retailer and brand manager.
The company owns the Famous Footwear chain, focused on families, and ten different footwear brands, mostly focused on women and in the accessible fashion market.
The company has some characteristics that make it more interesting than other footwear retailers, mainly its control and nurturing of first-party brands, low concentration on suppliers, good omnichannel capabilities, and promotional discipline....
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Caleres Shows Quality Characteristics But Is Not An Opportunity