Caleres Stock Drops 17% After Weak Q1 Earnings And Revenue Decline

(RTTNews) - Caleres, Inc. (CAL) shares fell 16.58 percent to $13.66 on Thursday following disappointing first-quarter results. The footwear company reported net sales of $614.2 million, down from $659.2 million a year earlier. Net earnings dropped sharply to $5.9 million from $30.8 million in the prior-year quarter. The stock opened at $14.75 and traded between $13.16 and $14.98 during the session on the New York Stock Exchange. Volume spiked to 3.8 million shares, well above the average of 1.0 million. Caleres shares have traded between $13.16 and $44.51 over the past 52 weeks.