Caleres (CAL) Shoe Stock Up 20%

Caleres (CAL) is the parent company of Famous Footwear. George Tsilis joins Alex Coffey and Jenny Horne to discuss CAL, as the stock is up 20% in 2023. Piper Sandler upgraded CAL from overweight from neutral, noting that CAL set its EPS earnings expectations to over $4 on a go-forward basis. Piper Sandler also mentions that CAL made structural earnings gains compared to pre-pandemic. George then compares CAL to Steve Madden (SHOO), Wolverine Worldwide (WWW), and Shoe Carnival (SCVL). He also talks about how CAL doesn't have exposure to any particular brand unlike Foot Locker (FL). Tune in to find out more about the stock market today.