Shoes.com Q3 sales up almost 30%
Third quarter sales at Shoes.com Inc., Brown Shoe Co. Inc.’s web sales business, were up 29.5% in the third quarter of 2007 to $22.4 million, compared with $17.3 million in the prior year period. The specialty retail segment, made up largely of Shoes.com and Naturalizer shoe stores, reported sales of $70.8 million, a 3.8% increase over last year’s $68.2 million.
Same-store sales declined 1.9% and the segment posted an operating loss of $1.9 million for the third quarter, ended November 3, 2007, compared with operating income of $1 million in Q3 2006. The Q3 loss includes $2.8 million in costs primarily related to the relocation of the Shoes.com administrative office from Los Angeles to St. Louis. Shoes.com is No. 155 in the Internet Retailer Top 500 Guide
Brown Shoe Co.’s total Q3 sales were $645.5 million, a decrease of 4.6% compared to $676.8 million in the third quarter of fiscal 2006.
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