Caleres (CAL) reported fiscal Q3 adjusted earnings Thursday of $1.23 per diluted share, down from $1.37 a year earlier.

Four analysts polled by FactSet expected $1.36.

Net sales for the quarter ended Nov. 2 were $740.9 million, compared with $761.9 million a year earlier.

The analysts surveyed by FactSet expected $751 million.

The company said it now expects fiscal 2024 adjusted earnings of $3.45 to $3.55 per diluted share, compared with $4 to $4.15 anticipated previously.

Four analysts polled by FactSet expect $4.03.

Sales during the year are now expected to be down 2.5% to 3%, compared with a low-single-digits decline expected previously, Caleres said.

The analysts surveyed by FactSet expect revenue of $2.76 billion.

The company's shares were down nearly 14% in recent Thursday premarket activity.