Brown Shoe Net Climbs, Sticking to Plan for Holiday
Net income improved 21% to $33,113,000 from $27,314,000 on a 4% sales hike to $729,277,000 compared to $702,788,000 for the 13 weeks ended Nov. 1. Famous Footwear registered a 1% sales decline for the period on a 0.2% comp store decline to $435.4 million from $439.6 million, but operating income inched up 1% to $37.6 million from $37.0 million on 80 b.p. of gross margin improvement to 43.4%. Elsewhere, the wholesale operation sales rose 18% to $242.6 million against $205.3 million and operating income improved 66% to $27.8 million from $16.8 million. The specialty retail division saw sales decline 11% ... Log in to view full article.