Key Takeaways Caleres, the parent of discount shoe retailer Famous Footwear, said weak demand, a later back-to-school period, and challenges with its resource planning system hurt second-quarter results.

Caleres missed estimates on the top and bottom lines in its Q2 report. It also cut its guidance for the full year. The stock is cheap, and a rebound in consumer demand could lead to a recovery. Caleres said revenue in the quarter was down 1.