Brown Shoe Company, Inc. (NYSE: BWS)
BWS (Brown Shoe) recently reported its third quarter 2012 financial results, with net sales of $732.2 million versus third quarter 2011 net sales of $713.8 million. 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. Excluding exited brands, net sales were up 4.2% year-over-year.
Highlights included Famous Footwear reported record third quarter 2012 sales of $436.8 million, a 4.9% year-over-year improvement, with good growth in boat shoes, running shoes and accessories. On a same-store-sales basis, the third quarter was up 6.8% over the prior year, with the back-to-school season up 5.5%. During the quarter, the company closed or relocated 11 stores and added 18 new stores, and average revenue per square foot improved 10.3% year-over-year.
Brown Shoe Company, Inc. (NYSE: BWS) is a $2.6 billion, global, footwear company that puts consumers and their needs first, by targeting the strategic Family, Healthy Living and Contemporary Fashion platforms. We have more than 130 years of experience, passion and product innovation and operate more than 1,300 Famous Footwear and Naturalizer retail stores across the United States, Canada and China. We also design, source and market many well-known wholesale shoe brands such as Naturalizer, Dr. Scholls Shoes, LifeStride, Sam Edelman, Franco Sarto, Via Spiga, Vera Wang, Vince, Avia and Ryka across multiple distribution channels. In addition to our retail and wholesale operations, we maintain a strong online presence with our ecommerce sites, Famous.com, Naturalizer.com and Shoes.com. Visit www.brownshoe.com to learn more about us. Brown Shoe Company: feel good and live better feet first!
In my opinion this is a stock to watch!
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.