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Reuters
Published
Nov 18, 2009
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Brown Shoe sees preliminary third quarter results above Street

By
Reuters
Published
Nov 18, 2009

Nov 17 (Reuters) - Brown Shoe Co Inc (BWS.N) posted preliminary quarterly revenue above market estimates and forecast better-than-expected earnings for the period, helped in part by the success of its Famous Footwear line.


Brown Shoes - Famous Footwear

The company, which is scheduled to report third-quarter results on Nov. 24, expects to earn 36 cents to 37 cents a share in the quarter ended Oct. 31, compared with 25 cents a share, a year earlier.

Excluding charges, it sees earnings of 40 cents to 41 cents a share. Analysts on average were expecting 30 cents, before items, according to Thomson Reuters I/B/E/S.

Revenue fell 1 percent to $625.6 million, topping expectations of $600 million.

Famous Footwear same-store sales rose 4.7 percent, compared with a 5 percent fall in the year-ago quarter.

Shares of the St. Louis-based company closed at $11.35 Tuesday 17 November on the New York Stock Exchange. (Reporting by Renju Jose; Editing by Unnikrishnan Nair)

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