Home / Knowledge / News / Fashion / Brown Shoe establishes 2008 EPS guidance
Brown Shoe establishes 2008 EPS guidance
Mar '08
Brown Shoe Company Inc reported results for the fourth quarter and full-year fiscal 2007 ended February 2, 2008.

Net sales in the fourth quarter decreased 10.6 percent to $571.4 million compared to $639.3 million in the year ago quarter. Net earnings in the fourth quarter increased 2.7 percent to $14.0 million, or $0.33 per diluted share, compared to $13.6 million, or $0.31 per diluted share, in the year ago quarter.

As explained below, net earnings and net earnings per diluted share in both fiscal years were impacted by charges related to the Company's Earnings Enhancement Plan and other non-recurring costs.

Additionally, the fourth quarter of 2006 included an extra week because of the fifty-three week fiscal calendar in 2006. The additional week resulted in $22.5 million of net sales in 2006 but did not materially impact net earnings or net earnings per diluted share.

Ron Fromm, Brown Shoe's Chairman and CEO, stated, "While fiscal 2007 was a challenging year for the industry, it was also a year of progress for Brown Shoe. In the first half of the year we enjoyed momentum from a strong 2006, however pressures on the consumer led to reduced consumer spending and traffic levels in the back half of 2007.

I am proud of the way our team managed the business by adjusting the flow of product, at both retail and wholesale, using promotions and markdowns to ensure currency of inventory, and managing expenses.

We are in solid shape as we start 2008. More importantly, we made progress on our strategic plans by further laying the groundwork in 2007. We opened 110 new Famous Footwear stores and continue to focus on the opportunity to be the leading branded family value footwear retailer in the country.

Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search