Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Brown Shoe says its Shoes.com e-commerce segment posted sales of $63.2 million in 2006, an increase of 77.6% compared to 2005.
Shoes.com, a business unit of Brown Shoe Co. Inc., posted record earnings in 2006. In its annual report, Brown Shoe says Shoes.com posted sales of $63.2 million, an increase of 77.6% compared to 2005.
Total sales for Brown Shoe grew 7.8%, or $178.9 million, to $2.47 billion in 2006. The 53rd week in the 2006 accounting period added $22.5 million to the company’s net sales.
Shoes.com, No. 192 in the Internet Retailer Top 500 Guide, is the top e-commerce site among Brown Shoe’s online businesses. The Brown Shoe sites include FamousFootwear.com, Naturalizer.com, DrSchollsShoes.com, LifeStride.com, CarlosShoes.com, SkateStyles.com, BlueFireSports.com and LuxuryShoes.com. Brown Shoe does not break out e-commerce sales for its other brands.
Brown Shoe’s specialty retail segment, which primarily includes the Naturalizer retail stores and Shoes.com, reported sales of $257.9 million in 2006, an increase of 7.5%, or $17.9 million, compared to 2005.