Shoes.com strides to higher Q1 web sales
Shoes.com Inc., the e-commerce arm of Brown Shoe Co., is reporting another quarter of solid growth.
Shoes.com, No. 155 in the Internet Retailer Top 500 Guide, grew web sales in the first quarter to $17.6 million, an increase of 46.7% over e-commerce sales of $12 million in the prior year.
At the same time Brown Shoe reported net earnings of $9.6 million on net sales of $566.3 million vs. net earnings of $10 million on net sales of $575.5 million in Q1 2006. “Our first quarter results were ahead of expectations, driven primarily by the ongoing strength of our Famous Footwear chain,” says Brown Shoe CEO Ron Fromm. “Our specialty retail segment, which includes our Naturalizer stores and Shoes.com business, achieved solid progress in the quarter, also generating a 3.4%same-store-sales gain.”
Overall the web accounted for 3% of all revenue in the first quarter.
Back...
