Brown Shoe Co. said that while profit rose dramatically in the third quarter thanks to a business unit divestiture, the retailer will cut several of its lines and close underperforming stores nationwide to shore up profitability.
Brown Shoe Co., parent to the Famous Footwear chain, reported Thursday a loss of $4.6 million for the second quarter, compared with a profit of $5.3 million in the year-ago period.
Brown Shoe Company Inc., which operates Famous Footwear stores, said Wednesday that its first-quarter earnings tumbled, despite rising revenue caused by higher costs.
Brown Shoe Co., parent of Famous Footwear and Naturalizer shoe stores, said Tuesday that its fiscal third-quarter profit rose to $18.6 million from $16.3 million, topping analysts estimates.