** Shares of footwear retailer Caleres CAL.N fall ~16% to $28 premarket

** Co narrows annual sales decline forecast to 2.5% to 3% from previous forecast of drop in low-single digits

** Posts Q3 revenue of $740.9 mln vs estimates of $751.4 mln and adjusted EPS of $1.23 below estimates of $1.36- data compiled by LSEG

** Says Q3 results reflect softer seasonal demand for boot category, late receipts at Famous Footwear, a customer credit issue that impacted shipments and weaker business in China

** Up to Wednesday's close, stock has risen 8% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))