Famous Footwear May Comps Slip 1.6%

Brown Shoe Company, Inc. announced May retail sales at Famous Footwear rose 1.2 percent to $84,900,000 for the four-week period ended May 31, 2003, compared to $83,900,000 for the same period last year (ended June 1, 2002). Same-store sales decreased 1.6 percent, as retail traffic remained slow in much of the country.

Famous Footwear sales for the first 17 weeks of fiscal 2003 were $346,000,000, a 1.6 percent decrease compared to $351,500,000 for the same period last year. Same-store sales for the fiscal year-to-date period were down 4.5 percent.

Retail sales at Brown Shoe’s domestic Naturalizer retail division, a 212-store chain selling the Naturalizer brand of women’s footwear, were $10,700,000 for the month on a store-base of 20 percent fewer stores, compared to $12,200,000 last May. Same-store sales were up 0.5 percent.

Naturalizer Retail sales for the first 17 weeks were $39,600,000 compared to $47,800,000 for the same period last year. Same-store sales for the 17 weeks were down 1.7 percent.

    MONTH AND YEAR-TO-DATE SALES (millions)
                  FY 2003   FY 2002    %     Same-Store      Stores Open
                 (5/31/03) (6/01/02) Change   % Change   5/31/03 vs. 6/01/02
    May - Famous
     Footwear      $84.9     $83.9    1.2      (1.6)       911         919
    Y-T-D - Famous
     Footwear      346.0     351.5   (1.6)     (4.5)

    May. -
     Naturalizer    10.7      12.2  (12.3)      0.5        212         266
    Y-T-D -
     Naturalizer    39.6      47.8  (17.2)     (1.7)

    Other Highlights for the month
    -- Famous Footwear opened a new store in the following market:
       Plattsburgh, NY.