The largest American shoe companies have summed up the first quarter of 2012. Brown Shoe Co. net profit decreased by 54% due to the restructuring of the company. Wall Street analysts expect warm weather to help sales.
For three months, Brown Shoe earned $ 1,7 million ($ 3,7 million last year over the same period). The company closed one of the factories in China, the logistics center in Missouri, numerous stores (in total, the company 1300 stores Famous Footwear in America, Canada and Asia). The savings were used to purchase American Sporting Goods Corp., a sports shoe manufacturer. for $ 145 million (recall, the deal took place in February 2012 of the year). Turnover increased from $ 619,6 million to $ 626,4 million. In general, by 2013, the company plans to increase turnover to $ 2,59 billion.
Collective Brands Inc., the owner of Payless ShoeSource and Stride Rite chains, said in the first quarter profit and turnover were up. The company changed merchandising in PayLess stores and increased the number of base models in its collection destined for the United States.
The company invested $ 6,4 million to monitor and research “strategic alternatives”. Another $ 2,7 million was spent on closing stores. Now the company has 4 476 stores, 65 less than a year earlier. 185 stores are franchised. The company's net profit in the first quarter of 2012 was $ 33,4 million (last year the company earned $ 26,4 million over the same period). The turnover increased from $ 869 million to $ 912,1 million. According to the materials of the site analpa.ru.