Famous Footwear sales decline by 7.3%

14 Oct '08

2 min read

Brown Shoe Company Inc announced that same-store sales for the five-week period ending October 4 for its Famous Footwear division declined 7.3 percent, while same-store sales for the third quarter through October 4 declined 4.8 percent versus the comparable period last year.

As a result, the Company currently expects its third quarter 2008 net sales to be in the range of $633 to $638 million, as compared to $646 million in the year-ago period. This is predicated on an estimated same-store sales decrease of 4.5 percent to 5.5 percent in the third quarter at its Famous Footwear division.

In addition, the Company expects third quarter sales in its Wholesale division to decrease 4.0 to 5.0 percent. The Company now expects third quarter net earnings per diluted share to be in the range of $0.17 to $0.20, which includes costs of $0.22 per diluted share related to the relocation of the Company's Madison, WI headquarters to St. Louis and its information technology transformation.

This compares to $0.61 in the year-ago period, which included costs of $0.06 per diluted share related to the Company's Earnings Enhancement Plan. The Company will update full-year guidance when it releases earnings for the third quarter on November 25, 2008.

Brown Shoe Company Inc

More Brown Shoe Company Inc News... More Fashion News - United States Of America...