Home Wealth  Money Footwear Earnings: DSW, Collective Brands, Brown Shoe

Footwear Earnings: DSW, Collective Brands, Brown Shoe

Posted: Nov. 23rd, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Footwear retailer DSW reported third quarter earnings today of $53.7 million, or $0.75 per share, compared to a loss of $3.3 million, or $0.79 per share, last year.

Adjusted earnings of $0.88 per share beat analyst estimates.

Revenue, up 8.5% to $530.7 million, was shy of forecasts.

DSW raised its full year guidance to earnings of $2.90 to $2.95 per share.

Payless ShoeSource (nyse: PSS - news - people ) parent Collective Brands reported a third quarter loss late yesterday of $114.3 million, or $1.91 per share, compared to earnings of $47.6 million, or $0.75 per share last year.

Adjusted earnings of $0.61 per share beat analyst expectations, although revenue fell short, up just 1.4% to $894.4 million.

Overall same-store sales fell 3.7%, with a 4.5% decline at Payless stores.

Also late yesterday, Famous Footwear parent Brown Shoe said it earned $33.7 million in the third quarter, or $0.79 per share, compared to $18.6 million, or $0.42 per share, last year.

Adjusted earnings of $0.51 per share met analyst expectations.

Revenue slid 0.3%, to $713.8 million, short of analyst estimates.

The company said it will be closing as many as 75 Famous Footwear stores through 2012, for a total of 145 closures since it began a portfolio review.

It is also closing all of its Brown Shoe Closet and F.X. LaSalle stores.

Brown Shoe also said late yesterday it has agreed to license its Buster Brown, Sam Edelman and Avia wholesale children's brands to BBC International, in a phased process beginning immediately and ending in the first quarter of 2012.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
5 of Miami's Best Million-Dollar Properties to Call Home in 2018
Sip on Bodega Numanthia's 2013 Termanthia, the Jewel of Spanish Wine
Go Wireless with the Latest, Greatest, Next-Gen Earphones & Headphones
Art of the Erotic Lends Sophisticated Sex Appeal to the Uncensored Library
Brazil is South America's Latest Rising Star Wine Producer
The World's Most Precious Cognac Bottle, Sculpted by Lalique for Hardy
Behind the Wine-Lover's Private Paradise with Anthony von Mandl of Martin's Lane Winery
12 Luxury Kitchen Items to Gift This Holiday Season
Exploring the Smoky Mountains with Buick Enclave Avenir
Sweet Talk with Premier Patissier, Chef Gregory Gourreau
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE