Brown Shoe Turns To Profit In Q1; Lifts FY14 EPS View - Quick Facts

(RTTNews) - Brown Shoe Co. Inc.(BWS) reported that its first quarter 2014 net earnings attributable to the company was $15.4 million or $0.35 per share, compared to a net loss of $10.8 million or $0.26 per share in the first quarter of 2013. Adjusted earnings for the prior year quarter were $13.80 million or $0.32 per share.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales were $591.2 million up from last year's $588.7 million. Wall Street expected revenues of $592.46 million.

The company raised its fiscal 2014 earnings per share guidance to a range of $1.47 to $1.57 from the prior estimate of $1.45 to $1.55 per share. However, the company maintained its annual consolidated net sales guidance in a range of $2.58 billion to $2.60 billion. Street currently is looking for fiscal year 2014 earnings of $1.55 per share on annual revenues of $2.59 billion.