Brown Shoe Q3 Profit Beats Street; Ups FY13 Adj. EPS View - Quick Facts

(RTTNews) - Footwear retailer and wholesaler Brown Shoe Co., Inc. (BWS) posted higher third-quarter 2013 net earnings of $27.3 million, or $0.63 per share, compared with the prior year's $24.3 million, or $0.56 per share. The company said the year-ago quarter included $2.6 million of costs related to the company's portfolio realignment efforts ($1.6 million on an after-tax basis, or $0.04 per share). On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.59 for the quarter. Analysts' estimates typically exclude one-time items.

The firm clocked net sales of $702.8 million in the quarter, up 1.0% from $696.0 million reported a year back. Five analysts estimated revenues of $705.52 million for the quarter.

Brown Shoe's Chief Executive stated: "Famous Footwear reported record sales in the third quarter, with strength across all geographies, climate zones and genders. We also reported a 4.9% increase in same-store-sales for the quarter."

Looking ahead, the company increased its fiscal 2013 adjusted earnings per share guidance to a range of $1.36 - $1.40, from its previous $1.27 - $1.32 range. Earnings per share is now estimated to lie between $0.82 and $0.86, and consolidated net sales between $2.53 billion and $2.54 billion for the year. Analysts project annual earnings of $1.36 per share on $2.54 billion in revenue.