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Article Date: November 2023
Word Count: 345

Famous Footwear Down on Weak Boot Sales


Net income was up 20% to $46,914,000 over $39,246,000 on a 5% revenue decline to $761,904,000 from $798,258,000, pulled down by a 7% drop at Famous Footwear to $449,773,000 from $481,951,000. Comps came in -6.9%, declining month-to-month through the quarter. Softness in seasonal offerings, namely boots, was partially offset by a 4% gain in kids’ as assortments were on-trend and on-brand heading into Back-to-School. High demand brands posted sales growth across categories but fell short of offsetting the seasonal drop. Nike got a call out for sales of retro and court-inspired ... Log in to view full article.

 


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