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

Footwear Earnings: DSW, Collective Brands, Brown Shoe

Posted: Jul. 24th, 2012  |  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 can’t 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
New Alfa Romeo Giulia Interior is Totally Decked Out in Carbon Fiber
The Chef's Table Dinner Series at Terranea Resort Offers Locally-Sourced Ingredients and Chef-Made Seasonings
Jeff Bridges' $29.5M Montecito Estate is Up for Grabs
You Have to See This Insanely Cool House That Combines Rugged Cliffside Design and Futuristic Minimalism
Watch Race Cars and Landing Aircraft at Porsche's New Gourmet Restaurant 356
Dine 19 Feet Underwater or 19 Feet Up in the Trees at These Two Awesome Restaurants in the Maldives
Aston Martin Milano Rapide S Dom Pérignon Has a Champagne Cellar in the Trunk...Because Why Not?
Elon Musk Adds "Ludicrous" Mode to Turn the Model S Into a Private Roller Coaster
Marshall's London Smartphone is Calling and You Better Believe We're Answering
Chef Gilberto Guidi On Honest Food, Olive Oil Farming and What it's Like Running a Rustic Trattoria in the Heart of Northern Italy
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE