Brown Shoe Company Q3 net sales up 3.8 percent

REPORT_ Brown Shoe Company reported third quarter 2014 financial results, with net sales of 729.3 million dollars up 3.8 percent versus third quarter 2013 net sales of 702.8 million dollars. Third quarter 2014 net earnings of 33.1 million dollars, or 0.75 dollars per diluted share, were up 21.2 percent compared to net earnings of 27.3 million dollars, or 0.63 dollars per diluted share. Gross margin was 39.9 percent up 30 basis points compared to 39.6 percent in the prior year.

“Wholesale overachieved again, with sales up 18.2 percent in third quarter, and both Healthy Living and Contemporary Fashion contributed strong double-digit sales improvement. At Famous Footwear, our focus on big ideas for back-to-school continued to deliver. Same-store-sales were up 1.6 percent, for the 10 weeks that make up this key selling season,” said Diane Sullivan, CEO, President and Chairman of Brown Shoe Company.