Brown Shoe Co Inc, one of the largest American companies, considers this year to be the most difficult one - it is struggling with rising prices for shoes and falling sales of preventive shoes. The company is discussing an increase in retail prices due to wholesale growth. While many sellers have already taken this step, Brown Shoe Co Inc has long tried to find a different way to compensate for lost profits.
The company also announced the sale of one of its AND1 brands (basketball shoes) to Galaxy International. The amount of $ 55 million received from the transaction will be used to pay debts.
The company expects to end the year with a stock price of 85-97 cents per share. While analysts rate it higher at $ 1,15 per share. Turnover grew by 7,2% to $ 628,1 million. According to Reuters.