Clayton-based Brown Shoe Co. reported net earnings of $24.3 million during its third quarter ended Oct. 27, down 28 percent from the prior quarter.
Results for both the third quarter of 2012 and 2011 included sales of $15.6 million and $25.8 million, respectively, from brands and businesses the company has exited. Brown said that excluding exited brands, net sales were up 4 percent year-over-year.
Late last year, Brown began a cost cutting realignment that included plans to shutter stores and close two distribution centers. The company operates more than 1,300 Famous Footwear and Naturalizer retail stores.