Long/short equity, value, special situations, growth

Brown Shoe: Good Execution In 2013, Opportunities In 2014 And Beyond

Brown Shoe's (BWS) stock price jumped 59% in 2013, before dividends. Management retrenched over the last few years and focused on improving margins instead of pursuing top line growth. This strategy has worked well and I expect it to continue in 2014. The company operates in three segments: retail (national footprint of Famous Footwear stores), wholesale (in-house brands, such as Sam Edelman) an...

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