Originally published at www.seclive.com
Brown Shoe Company Inc. (BWS) announced its second quarter financial results, reporting earnings of $15.4M, or $0.35 per share. This is a stark contrast to last year's posted loss of $2.5M and $0.06 losses per share. When taking into account a number of factors that better represent the true nature of its earnings, adjusted figures that excluded certain items were $14.2M net earnings, up from $6.8M a year ago. Famous Footwear, one of the company's more recognized brands, saw a 6.8% increase in same-store sales, with overall sales increasing 10.8%, which the company attributes to growth in its running shoes and other styles. Brown Shoe increased its annual guidance, from a range of between $1.22 and $1.29 to now $1.27 and $1.32 earnings per share.
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