Sales for Shoes.com drop 8% in Q3
Year-to-date web sales also decline 7%.
, Research Director
It was a better third quarter for sales overall for Brown Shoe Co,. but sales at its Shoes.com Inc. subsidiary continue to lose ground.
For the third quarter ended Oct. 27, Brown Shoe reported:
- Sales for Shoes.com, No. 144 in the Internet Retailer Top 500 Guide declined 8.4% to $17.5 million from $19.1 million in the third quarter of 2011.
- Total sales increased 2.6% to $732.2 million from $713.8 million.
- Sales for Famous Footwear increased 4.9% to $436.8 million from $416.2 million.
- Comparable-store sales for Famous Footwear increased 6.8%.
- Net earnings decreased 27.9% to $24.3 million from $33.7 million.
Shoes.com accounted for 2.4% of total revenue compared with 2.7% in the prior year.
For the first three quarters:
- Sales for Shoes.com declined 6.5% to $47.6 million from $50.9 million in the first three quarters of 2011.
- Total sales increased 0.5% to $1.96 billion from $1.95 billion.
- Sales for Famous Footwear increased 2.7% to $1.13 billion from $1.10 billion.
- Net earnings decreased 28.8% to $23.2 million from $32.6 million in the first three quarters of 2011.
Shoes.com accounted for 2.4% of total revenue compared with 2.6% in the prior year.