Brown Shoe 1Q Profit fell 54%
May 18th, 2012 | 
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Brown Shoe Company, a famous footwear company in the U.S. and Canada, reported Friday that its first-quarter profit declined 54 percent due to higher markdowns at both the wholesale and retail level.
The company’s shares increased $1.36, or 15.5 percent, to $10.12. Revenue rose 1 percent to $626.4 million from $619.6 million, according to sources.
Brown Shoe is a $2.3 billion footwear company with worldwide operations. The company operates the 1,100-store Famous Footwear chain. It also operates 300 specialty retail stores in the United States, Canada and China under the Brown Shoe Closet, FX LaSalle and Naturalizer names, as well as Shoes.com.
Brown Shoe’s wholesale divisions own and market leading footwear brands including Naturalizer, LifeStride, Via Spiga, Nickels Soft, Connie and Buster Brown; it also markets licensed brands including Franco Sarto, Etienne Aigner, Dr. Scholl’s, Carlos by Carlos Santana and Fergie Footwear branded footwear for adults, and Barbie, Nickelodeon character footwear for children.
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