Footwear company Caleres up on Stuart Weitzman acquisition

Caleres

19/02/2025 17:08

** Dr Scholl's footwear owner Caleres'  CAL.N  shares up 4%
at $17.17 
    ** CAL to buy Stuart Weitzman brand from Coach parent
Tapestry  TPR.N  for $105 million in cash
    ** TPR says the deal is expected to close in the summer of
2025, with Caleres aiming to fund it through the company's
revolving credit agreement
    ** TPR's Stuart Weitzman struggled during the holiday
quarter due to weak luxury spending in North America and China
    ** CAL fell 24.6% in 2024 and has risen 26.3% in 2025

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))