Looking back on footwear stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Caleres (NYSE: CAL) and its peers.

Before the advent of the internet, styles changed, but consumers mainly bought shoes by visiting local brick-and-mortar shoe, department, and specialty stores. Today, not only do styles change more frequently as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some footwear companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 7 footwear stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was 7.9% above.

While some footwear stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.5% since the latest earnings results.

Weakest Q3: Caleres (NYSE: CAL)

The owner of Dr. Scholl's, Caleres (NYSE: CAL) is a footwear company offering a range of styles.

Caleres reported revenues of $790.1 million, up 6.6% year on year. This print exceeded analysts’ expectations by 2.8%. Despite the top-line beat, it was still a disappointing quarter for the company with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

“Caleres delivered third quarter sales results that were ahead of our internal expectations, highlighted by organic sales growth in our Brand Portfolio segment, strong Lead Brands performance, sequential improvement in trends at Famous Footwear, and accelerated eCommerce momentum in both segments of our business,” said Jay Schmidt, president and chief executive officer.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $13.58.

Read our full report on Caleres here, it’s free for active Edge members.

Best Q3: Nike (NYSE: NKE)

Originally selling Japanese Onitsuka Tiger sneakers as Blue Ribbon Sports, Nike (NYSE: NKE) is a global titan in athletic footwear, apparel, equipment, and accessories.

Nike reported revenues of $11.72 billion, up 1.1% year on year, outperforming analysts’ expectations by 6.5%. The business had an incredible quarter with an impressive beat of analysts’ constant currency revenue estimates and a beat of analysts’ EPS estimates.

Nike scored the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.6% since reporting. It currently trades at $65.85.

Is now the time to buy Nike? Access our full analysis of the earnings results here, it’s free for active Edge members.

Genesco (NYSE: GCO)

Spanning a broad range of styles, brands, and prices, Genesco (NYSE: GCO) sells footwear, apparel, and accessories through multiple brands and banners.

Genesco reported revenues of $616.2 million, up 3.3% year on year, in line with analysts’ expectations. It was a softer quarter as it posted full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 32.4% since the results and currently trades at $23.75.

Read our full analysis of Genesco’s results here.

Deckers (NYSE: DECK)

Established in 1973, Deckers (NYSE: DECK) is a footwear and apparel conglomerate with a portfolio of lifestyle and performance brands.

Deckers reported revenues of $1.43 billion, up 9.1% year on year. This result topped analysts’ expectations by 0.8%. Taking a step back, it was a mixed quarter as it also recorded a solid beat of analysts’ EBITDA estimates but full-year revenue guidance missing analysts’ expectations.

Deckers pulled off the fastest revenue growth but had the weakest full-year guidance update among its peers. The stock is down 1.1% since reporting and currently trades at $102.11.

Read our full, actionable report on Deckers here, it’s free for active Edge members.

Crocs (NASDAQ: CROX)

Founded in 2002, Crocs (NASDAQ: CROX) sells casual footwear and is known for its iconic clog shoe.

Crocs reported revenues of $996.3 million, down 6.2% year on year. This number surpassed analysts’ expectations by 3.3%. Overall, it was an exceptional quarter as it also logged an impressive beat of analysts’ constant currency revenue estimates and EPS guidance for next quarter exceeding analysts’ expectations.

Crocs had the slowest revenue growth among its peers. The stock is up 5.8% since reporting and currently trades at $89.63.

Read our full, actionable report on Crocs here, it’s free for active Edge members.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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