Brown Shoe turns Q1 profit, beats Street
St. Louis Brown Shoe Co. reported Wednesday that its first-quarter net income rose to $10 million from a loss of $4.6 million the year before, beating Wall Street expectations.
The company, which operates Famous Footwear stores, said its revenue increased nearly 11% to $597.7 million.
RadioShack extends partnership with Lance Armstrong
FORT WORTH, Texas RadioShack’s chairman and CEO Julian Day announced at the company’s annual meeting on May 24 that RadioShack has expanded its partnership with Lance Armstrong and the Livestrong foundation. The company said it will introduce exclusive Livestrong-branded products and accessories in all stores beginning in July.
DSW sees improved sales, earnings for Q1
COLUMBUS, Ohio DSW announced net income of $30.2 million on net sales of $449.5 million for the first quarter ended May 1, compared with net income of $7.1 million on net sales of $385.8 million for the first quarter ended May 2, 2009. Same-store sales increased 16.2% versus a decrease of 4.7% last year.
Diluted earnings per share were 67 cents for the first quarter of fiscal 2010 compared with diluted earnings per share of 16 cents last year.
The company reiterated its estimate of an increase in annual comparable-store sales of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010. The estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010. The second half performance implied in the guidance recognizes the more challenging last year comparisons for both sales growth and merchandise margins.