Caleres (CAL) said Wednesday that it has signed a definitive agreement to acquire footwear brand Stuart Weitzman from fashion holding company Tapestry (TPR) for $105 million.
The footwear company said it will fund the acquisition through its revolving credit agreement, and that it expects the deal to close in the summer.
Additionally, the company said it expects to report on March 19 earnings per diluted share and net sales for the year ended Feb. 1 in line with its most recent guidance.
Shares of Caleres were up 1.2% in recent premarket activity.
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