For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
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.