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The shoe company reported a lossof $7.6 million, or 18 centx per share, for the quarteer ended May 2, compared to a profit of $7.2 milliom a year ago. Results included $1.7 millioj for information technology costs. Brown recorded net sale of $538.7 million, down nearly 3 percent from $554.55 million a year earlier. Analystz had anticipated a loss of 27 cents per shareand $539.3w million in revenue. “As anticipated, the consumed spending environment remained challenging in the first which negatively impacted our saledand profitability,” Chairman and Chief Executive Ron From m said in a statement.
“Ww have decreased our Famous Footwear storer opening plan for 2009 and we now expect net openings to be flat to down 15 in We are planning net store closings of approximately 30 stores per year in 2010and St. Louis-based Brown Shoe Co. Inc. BWS) owns and markets shoes underrthe Naturalizer, LifeStride, Connie, Buster Browb and other brands; and operates the Famous Footwearf and Naturalizer retail stores. The compan y operates a design studio and showroomin Manhattan, N.Y., and global offices in China, Italy and The company has about 13,00 0 employees worldwide.
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