Telsey Advisory Group maintained a ‘Less Risk’ rating on Caleres (CAL) after its quarterly results, stating that even as the broader footwear market remained challenged in the second quarter, the company was able to gain market share in several segments, like women’s fashion and shoe chains.
Dana Telsey of Telsey Advisory Group noted that tariffs weighed on the second quarter’s margin and are expected to continue impacting the rest of the year. She added that sales declined due to continued pressure on value-priced brands and order cancellations linked to manufacturing in China.
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