In its second-largest acquisition, Amazon buys the company for $970 million.
Web sales rose 2.9% and exceeded $17 million.
Shoes.com posted a modest increase in first quarter web sales, but store sales for shoe manufacturer and retailer Brown Shoe Co. fell slightly.
For the first quarter ended April 30, Brown Shoe reported:
- Sales for Shoes.com increased 2.9% to about $17.5 million from $17.0 million in the first quarter of 2010.
- Total sales increased year over year 4.5% to $624.6 million from $597.7 million in the first quarter of 2010.
- Specialty retail sales declined 1.6% to $59.8 million from $60.8 million in the first quarter of 2010.
- Same-store sales declined 1%
- Net earnings declined 63% to $3.7 million from $10.0 million in the first quarter of 2010.
“I continue to feel good about our overall strategy, and the entire company is looking forward to heading into the back-to-school selling season and to meeting our consumers’ needs and driving market share in our target areas of healthy living, contemporary fashion and family,” says CEO Diane Sullivan.
Internet Retailer calculates Shoes.com, No. 137 in the Internet Retailer Top 500 Guide, accounted for 2.8% of total sales, the same as the prior year.