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Brown Shoe’s Q4 profit rises; cautious in outlook
Clayton, Mo. -- Increased sales at its Famous Footwear division and the sale of its shoes.com online site, helped boost Brown Shoe Company’ profit in the fourth quarter.
The retailer reported net earnings of $16.2 million, which included adjustments related to the sale of Shoes.com, compared with $6.2 million in the year-ago period. Adjusted net earnings were $9 million.
Consolidated net sales in the quarter, ended Jan. 31, totaled $615.4 million, up 2.6% from year-ago period. Same-store sales increased 4%.