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Fly News Breaks for June 22, 2018
DSW, CAL
Jun 22, 2018 | 08:14 EDT
Needham analyst Rick Patel initiated Caleres (CAL) with a Hold rating, saying that while the company's Famous Footwear concept has the strategic initiatives that can support sales growth, progress will be tempered by store closures. In the Brand Portfolio segment, the analyst notes the company has the opportunity to grow its underpenetrated brands such as Sam Edelman and Allen Edmonds. Patel warns that Caleres is faced with the risk of intensifying competition as DSW (DSW) looks to invest in kids business.
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