BUZZ-Footwear company Caleres up on Stuart Weitzman acquisition
ReutersFeb 19, 2025 5:08 PM
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
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