• Q3 net earnings US$27.3m, up on $24.3m 
  • Sales climb 1% to $702.8m from $696m
  • Gross margin declined 50 basis points to 39.6%

Brown Shoe Company today (26 November) raised its full-year earnings guidance after reporting a 12.4% jump in third-quarter profit.

"Famous Footwear reported record sales in the third quarter, with strength across all geographies, climate zones and genders. We also reported a 4.9% increase in same-store-sales for the quarter," said president and CEO Diane Sullivan.

"For our wholesale business, we saw continued improvement. Sales were up 4.5% in the quarter, as our trend-right styles continued to resonate with consumers."

Brown Shoe has raised its full-year adjusted earnings per share guidance to range from $1.36-1.40, compared to its earlier guidance of $1.27-1.32.

"For the fourth quarter, we expect to operate under the same level of caution as many of our peers, as uncertainty around traffic, promotional activity and consumer sentiment appears to be permeating the overall industry this holiday season," said CFO Russ Hammer.