David Ristau
Growth at reasonable price, research analyst, newsletter provider, long/short equity

Brown Shoe: Contemporary Fashion With 50% Upside

Brown Shoe (BWS) is an interesting small-cap play in 2014. The company is coming off of a multi-year recovery process that saw them shed a lot of unprofitable divisions and focus more on their solid lines like Famous Footwear as well as exciting developments in contemporary fashion. In this article, we are going to focus in on industry trends in the shoe business, major catalysts for Brown Shoe in 2014 including contemporary fashion as well as store expansion, and lay out our pricing model that gives us a $40 price tag for BWS.

Industry Trends

The footwear industry is not overly complex as an industry, but there are certain trends to be aware of that can be important for certain...

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