Shares of Caleres Inc. fell over 18 percent in pre-market trading on Tuesday as the footwear company reported third quarter earnings below analyst expectations.

The St. Louis-based company said net sales in the third quarter of fiscal 2025 totaled $790.1 million, up 6.6 percent from $740.9 million the same time last year. Adjusted net earnings in Q3 2025 were $13.1 million, or 38 cents per diluted share, down from $42.6 million, or $1.23 per diluted share, in the third quarter of 2024.

While revenue beat analyst expectations — market watchers predicted net sales of $768.59 million — Caleres missed on earnings per share. According to Yahoo Finance, analysts were looking for 85 cents a share in the third quarter.

By segment, Famous Footwear saw net sales decrease 2.2 percent, wi

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