Sales up, but “toning” footwear lets Brown Shoe down
30/08/2011
However, the company reported a net loss for the quarter of $4.6 million compared to a profit of $5.3 million this time last year.
Chief executive, Diane Sullivan, said a “more rapid than expected” decline in toning shoes, footwear with in-built imbalance in the sole that many footwear brands have launched with claims that they can help improve the wearer’s body shape, was the main reason for the loss. She said the company had written down its entire stock of these shoes.
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