Brown Shoe Company announced February retail sales for its Famous Footwear and Naturalizer Retail divisions. Retail sales for Famous Footwear increased 0.3% to $67.4 million for the four-week period ended February 28, 2004, compared to 67.2 million for the first four weeks of fiscal 2003. Same-store sales decreased 1.8%, as favorable results in the latter part of the month were offset by cold weather that deterred shoppers at the beginning of
February.
Sales at Brown Shoe's domestic Naturalizer retail division, a
208-specialty store chain selling the Naturalizer brand of women's footwear,
were $6,700,000 in February, up 11.7 percent compared to $6,000,000 last
February. Same-store sales were up 11.7 percent, due to both a better-than-
anticipated response to its early-February storewide clearance event, and to
consumer purchases of new spring arrivals later in the month.
“The lack of clearance product affected Famous Footwear's sales early in
the month, and we believe resulted in overall negative store-for-store sales
comparisons,” said Brown Shoe Chairman and CEO Ron Fromm. “More importantly,
business has continued to strengthen considerably since late February as gains
in athletics and dress footwear are being driven by our new spring assortments
and the advent of good weather. Gross margin rates were strong throughout the
month.”
“Naturalizer's semi-annual clearance event was well received by customers,
and we are pleased with the early full-price sales of our new spring styles.
In particular, consumers reacted positively to the new assortment of flats,
detailed dress shoes and sandals,” Fromm noted.
FISCAL 2004 - MONTH SALES (millions)
FY 2004 FY 2003 % Same-Store Stores Open
(02/28/04) (03/01/03) Change % Change 02/28/04 vs. 03/01/03
Feb.-
Famous
Footwear $67.4 $67.2 0.3 (1.8) 893 914Feb.-
Naturalizer $6.7 $6.0 11.7 11.7 208 216Highlights for the month:
-- Famous Footwear opened a store in the following market during
the month: Nanuet, NY.
