Brown Shoe 3Q Profits Drop

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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.

Read more on St. Louis Business Journal.


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