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E-commerce sales continue to slide for Shoes.com in third quarter
Shoes.com reported third quarter web sales were down 8.7% from the prior year quarter. Shoes.com accounted for 2.8% of sales for parent Brown Shoe compared with 3% in Q3 last year.
Shoes.com, an e-commerce segment of Brown Shoe Co. Inc., reported declining sales for the seventh consecutive quarter.
For the third quarter ended Oct. 31:
- Sales for Shoes.com were $17.4 million, down 8.7%, from about $19.0 million in Q3 2008.
- Total sales for Brown Shoe decreased 1% to $625.6 million from $631.7 million.
- Shoes.com accounted for 2.8% of Brown Shoe’s total revenue compared with 3% last year.
- Comparable-store sales for Brown’s Famous Footwear brand increased 4.7%, reflecting higher foot traffic in stores, the company says, while total revenue in Brown Shoes’ specialty retail division increased 1.4% to $66.5 million from $65.6 million.
- Net income for Brown Shoe was $17 million compared with $10.4 million in Q3 2008.
For the first nine months of fiscal 2009:
- Sales for Shoes.com were $45.3 million, a 13.2% decrease from $52.1 million last year.
- Total sales for Brown Shoe decreased 4.5% to $1.67 billion from $1.75 billion.
- Shoes.com contributed 2.7% of Brown Shoe’s total sales compared with 3% last year.
- Comparable-store sales for Famous Footwear were down 2.1% and Brown Shoes’ specialty retail sales fell 6.6% to $174.4 million from $186.6 million for the first nine months of last year.
- Net income for Brown Shoe was $5.8 million in 2009 versus $19.2 million.