Shares of Caleres Inc. dipped over 9 percent in pre-market trading on Thursday as the footwear company reported second quarter earnings below analyst expectations.

The St. Louis-based company said net earnings in the second quarter of fiscal 2025 were $6.71 million, or 20 cents per diluted share, down from $29.96 million, or 85 cents per diluted share, in the second quarter of 2024. Net sales totaled $658.52 million, down 3.6 percent from $683.32 million the same time last year.

While revenue slightly beat analyst expectations — market watchers predicted net sales of $656.48 million — Caleres missed on earnings per share. According to Yahoo Finance, analysts were looking for 56 cents a share in the second quarter.

By segment, Famous Footwear saw net sales decrease 4.9 percent,

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