Brown Shoe profit rises 57% (at bizjournals.com)
Tuesday, November 24th, 2009Brown Shoe Co. Inc.’s profit jumped 57 percent in the third quarter thanks to a strong back-to-school selling season.
The St. Louis-based shoe retailer reported a profit of $16.3 million for the quarter ended Oct. 31, up from a profit of $10.4 million a year earlier.
Net sales totaled $625.6 million in the third quarter, down 1 percent from $631.7 million a year ago.
Same-store sales for Famous Footwear increased 4.7 percent during the quarter, and specialty retail same-store sales increased 4.1 percent, Brown Shoe said.
“Our strategies to offer trend-right product, an enhanced store experience, and the increased reach of our marketing communications helped deliver a strong back-to-school selling season at Famous Footwear,” Chairman and Chief Executive Ron Fromm said in a statement. “In addition, improved consumer reaction to our Naturalizer product and our other wholesale brands drove better sell-thrus at retail and, in particular, strong same-store sales results at our Naturalizer stores.”
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