Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ST. LOUIS-Famous Footwear’s same-stores sales fell 0.1% year over year during the first quarter of Brown Shoe Co., the firm that owns the 963-store chain. The stores were hampered by weak sales in athletic footwear, executives say.

Total sales for Famous Footwear were just under $292.7 million, a gain of 2.2% for the quarter, which ended July 29. Earnings jumped to $11.9 million, from $9.3 million. During the period, the company opened 28 stores and closed 17. For the fiscal year, management plans to open 90 new units and close 40.

Other than the athletic category, executives say sales were up in all other areas, with children’s departments leading the way. So far this current quarter, athletic-shoe sales are reportedly performing better, getting a boost from the back-to-school season.

Brown Shoe’s specialty chain of 305 stores, mostly under the Naturalizer banner, posted a 2.7% same-store sales drop. Sandal sales particularly hurt the chains. “Our Canadian business on a store-for-store basis is where we saw the biggest drop,” said Ron Fromm, Brown Shoe’s chairman and chief executive officer, during the company’s quarterly conference call. The specialty division opened one new store and closed eight during Brown Shoe’s Q1.

Brown Shoe’s wholesale business posted a 9.5% sales gain, coming in at about $227.2 million. Banking in part of a Famous Footwear same-store sales increase of 2% to 3% for the back half of the year, Brown Shoe executives predict earnings per share to come in between $2.08 and $2.17 for the year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.