While it managed to keep gross margins intact, sales declined 2% to $622,937,000 from $637,834,000 for the 13 weeks ended Jul. 30 but net income rose 17% to $19,768,000 from $16,825,000. Last year’s results included an $8.7 million pre-tax charge for early debt extinguishment. Famous Footwear sales fell 1% to $390,123,000 from $395,873,000 with operating income off 18% to $22,604,000 from $27,672,000. The Brand Portfolio sales were down 4% to $232,814,000 from $241,961,000 with operating income up 9% to $17,463,000 from $16,050,000.

CAL noted that Famous comp store sales declined 0.1% for the period, but was quick to point out that ... Log in to view full article.