Brown Shoe Co. Inc. (St. Louis) has reported a 6.4 percent increase in consolidated net sales for the first quarter of fiscal 2005, ended April 30, 2005.
Adjusted earnings were up 32 percent in the quarter.
Sales at Famous Footwear, the company’s 927-store family footwear chain, were up 6.1 percent and same-store sales increased 1.5 percent.
Naturalizer Retail, the company’s 366-store chain selling the Naturalizer brand of women’s shoes in both the U.S. and Canada, posted a 2.3 percent sales increase. Same-store sales increased 1 percent in the U.S. and 1.4 percent in Canada.
“Our first quarter results were driven by solid performances at both Famous Footwear and our wholesale division,” said chairman and ceo Ron Fromm. “Famous Footwear’s 1.5 percent increase in same-store sales contributed to our 34 percent increase in operating profits for the chain. Operating earnings in our wholesale segment increased 37 percent, as we began to benefit from the merchandising and marketing initiatives we’d implemented late last year, and did not have transition costs to assimilate Bass from the year-ago quarter.
“In addition, during the quarter we completed our acquisition of Bennett Footwear, adding licensed and owned brands — like Franco Sarto, Via Spiga, Etienne Aigner and Nickels Soft — that sell primarily in the bridge and better zones.”