Brown Shoe issues warning
The parent of more than 1,000 Famous Footwear, Naturalizer and other shoe stores reported a 29% jump in Q4 EPS minus items to 20 cents, beating by 4 cents. Brown Shoe's (BWS) sales grew 2.6% to $615.4 mil, below estimates for $625 mil. Including adjustments, the company earned 37 cents a share. CFO Ken Hannah said Brown Shoe is "cautious about the potential for product delays in the 1st half of the year as the West Coast port situation is gradually untangled." Shares fell 6.4% to 30.01.