Brown Shoe Narrows Loss in Second Quarter

ST. LOUIS — Clayton-based Brown Shoe Co. narrowed its loss in the second quarter as it continues to move forward with its portfolio realignment by exiting some brands and closing underperforming stores.

“We feel very good about where we’re at,” Diane Sullivan, the company’s chief executive, said in a phone interview. “We couldn’t be more pleased.”

She singled out the performance of Famous Footwear in particular, which she said had record-setting sales and earnings in the quarter. Brown Shoe has been closing underperforming Famous Footwear stores and being more selective with new locations.

Analysts have been more measured in their response. Christopher Svezia, an analyst with Susquehanna International Group, wrote in a research note that while the company continues to show improvement, particularly with Famous Footwear, “the wholesale business remains a mixed bag and execution is choppy.”

Read more at St. Louis Post-Dispatch.

Photo Courtesy of Creative Commons

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