Slump hits Brown Shoe earnings
Due to disappointing sales at its children’s shoe unit, Brown Shoe Co. Inc. earnings slipped 32 per cent in the second quarter of 2004 the company reported.
The slump was accounted for by the later than usual start to the school year and changes to the academic calendar The transition costs incurred when Brown Shoe acquired the Bass footwear license in February were also argued to be a contributing factor in the drop in figures.
The company posted Q2 earnings of $7.8 million, equating to 41 cents a share, a slip of $3.8 million from the same period in 2003 when earnings reached $11.6 million, or 62 cents a share.
