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Brown Shoe Company, Inc. (BWS) Reports Increase in Second Quarter Earnings and Revenues

|Includes: Caleres, Inc. (CAL)

Brown Shoe Company, Inc. reported a double-digit percentage increase in revenues on a year over year basis in the second quarter of 2010. The company also reported a strong profit in the most recent quarter compared to a net loss a year earlier.

Brown Shoe Company, Inc. reported revenues of $585.8 million in the second quarter of 2010, compared to $511.6 million in the same quarter of 2009. The company also reported net income of $5.3 million, or $0.12 per diluted share, compared to a net loss of $4.2 million, or ($0.10) per diluted share in the corresponding quarter of 2009.

The earnings report showed broad strength in all three business segments owned by Brown Shoe Company, Inc. The Famous Footwear segment saw an overall revenue increase of more than 10%, led by an 11.8% increase in same store sales.

Revenues in the Wholesale division increased 26% with strength across all distribution channels. Brown Shoe Company, Inc. reported a 6.8% same store sales increase in the Specialty Retail Division.

Ron Fromm, the CEO of Brown Shoe Company, Inc., said, “The positive momentum for our retail and wholesale brands continued in the second quarter and resulted in strong sales growth across our multi-channel portfolio and a significant improvement in earnings during the period.”

Brown Shoe Company, Inc. said that the revenue growth would continue and forecast revenue for the full year 2010 to grow in the double-digit percentage range.

For more information on the company, go to brownshoe.com

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