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Why Caleres Stock Is Soaring Today

TheMotleyFool

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Why Caleres Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/5d70b6df-fa9b-4237-9702-39c36cb1d4f8.png

Shares of footwear retailer Caleres (NYSE: CAL) spiked today after the company reported first-quarter results that beat Wall Street's top- and bottom-line consensus estimates. Investors were also reacting to the fact that the company raised its earnings outlook for the full year.

The stock had spiked by 26.4% at 10:54 a.m. ET.

Caleres reported adjusted earnings per share of $1.32 in the first quarter, a huge increase from $0.16 in the year-ago quarter and far outpacing analysts' consensus estimate of $0.83 per share.

Source Fool.com

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