Caleres has booked lower sales and earnings for the third quarter, which management said fell short of their expectations.

The company’s sales for the 13 weeks ended November 2 fell 2.8 per cent to $740.9 million, following a 1.8 per cent decline in the second quarter.

At Famous Footwear, sales were down 4.8 per cent while comparable store sales were up 2.5 per cent. At the brand portfolio segment, which includes Sam Edelman, Vionic and Ryka among others, sales rose 0.7 per cent.

Net earnings decreased from $46.9 million in the year-ago period to $42.6 million.

Jay Schmidt, president and CEO of Caleres, said the third-quarter performance was below expectations due to softer seasonal demand in the boot category, late receipts of key athletic products, and a discrete customer credit issue that impacted shipments.

The company has lowered its outlook as the season-to-date trend continues in the final quarter, with sales expected to be down 2.5-3 per cent for the full year.