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Fly News Breaks for March 22, 2019
CAL
Mar 22, 2019 | 09:19 EDT
Loop Capital analyst Laura Champine lowered her price target on Caleres to $26 and kept her Hold rating after its Q4 earnings miss. The analyst notes her new price target is driven by lower gross margin estimates in both the Famous Footwear and brand portfolio segments amid the broader "continued shift to online selling" that may exacerbate promotional activity in the sector. Champine adds that "weather woes in February" discussed across the retail space are also impacting Q1 activity.
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