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

Footwear Earnings: DSW, Collective Brands, Brown Shoe

Posted: Nov. 23rd, 2011  |  By Forbes

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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.

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