Brown Shoe profit tops estimates
St. Louis — 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.
Sales in the quarter ended Oct. 30 rose 14.5% to $716.1 million, from $625.6 million.
Zale’s loss widens
Dallas — Zale Corp.’s first-quarter loss widened as a debt-related charge hit the bottom line but a slight drop in revenue was offset by higher margins. The jewelry retailer reported a loss of $97.9 million, up from $59.7 million a year earlier.
Sales fell 0.7% to $327 million, from $329 million. Same-store sales in the quarter ended Oct. 31 fell 1.1%.
“Since February 2010 when we began implementing our turnaround plan, each fiscal quarter has shown improvement," said CEO Theo Killion. "The second fiscal quarter will provide an important barometer of the progress we’re making in our turnaround.”
Bain completes acquisition of Gymboree
Boston — The Gymboree Corp. and Bain Capital Partners, on Tuesday announced the successful completion of the company by affiliates of Bain Capital for $65.40 per share in cash, or approximately $1.8 billion.
As of Oct. 30, Gymboree operated 1,049 retail stores: 636 Gymboree stores (595 in the United States; 37 in Canada, two in Australia, and two in Puerto Rico); 148 Gymboree Outlet stores; 122 Janie and Jack shops; and 143 Crazy stores in the United States.