Back-to-school helps Brown Shoe
26/11/2009
Footwear group Brown Shoe Company has reported positive results for the third quarter of the year. The company said sales growth at its Famous Footwear retail chain and its efforts to control costs had been the most important contributing factors.
Earnings rose to $16.3 million, up from $10.4 million in the third quarter of 2008. The group achieved this on slightly lower sales, $625.6 million, compared to $631.7 million a year ago.
Announcing the results, Brown Shoe chief executive, Ron Fromm, commented: “We are pleased that we delivered better-than-expected sales and earnings during the third quarter. Our strategies to offer trend-right product, an enhanced store experience, and the increased reach of our marketing communications helped deliver a strong back-to-school selling season at Famous Footwear. We believe the brands across our portfolio are well positioned to gain market-share, given their strong value propositions to consumers at diverse price points and channels of distribution.”
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