Footwear maker Brown Shoe profit jumps 56% in 2005

02 Mar '06

3 min read

For the fourth quarter, Wholesale sales were $249.8 million, rising 57.3 percent from $158.8 million a year ago, due in part to strong year-end shipments and a $71.2 million contribution from the newly acquired Bennett division.

For the full year, Wholesale sales increased 40.4 percent to $864.9 million, from $615.9 million in 2004, including a $186.2 million contribution from the Bennett division.

"We feel good about the progress at Naturalizer," said Fromm. "Despite the short-term consolidation pressures in the department store channel, our sell-through business model allows us to increase our deliveries of fresh product and meet retailers' goals of buying closer to need. It also has allowed us to decrease our inventory and increase 'turns.' Going forward, our strategy is to continue providing a continuous flow of fresh merchandise at retail to maximize sell-through and profit growth."

For fiscal 2006, the company estimates sales of approx. $2.48 billion and net earnings per diluted share of $3.35 to $3.45, which includes costs of approx. $0.20 per share to expense stock options as required by the Statement of Financial Accounting Standards No. 123(R) -- Share Based Payment.

On an adjusted basis, earnings per share for fiscal 2006 are estimated at $3.55 to $3.65, compared to adjusted earnings per share of $3.32 in fiscal 2005, as set forth in Schedule 5.

Brown Shoe is a $2.3 billion footwear company with global operations. It operates the 900+ store Famous Footwear chain, which sells brand name shoes for the family.

Brown Shoe Company Inc

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