Brown Shoe Company (BWS) Reports Mixed Q3 Earnings; Sees FY08 Comps Down 5.1-5.5%; Guides Q4 Below the Street

Brown Shoe Company, Inc. (NYSE: BWS) reports Q3 EPS of $0.49, ex-items, versus the analyst estimate of $0.17. Revenue for the quarter was $631.7 million, versus the consensus of $634.69 million.

Same store sales at Famous Footwear fell 5% during the quarter. Sees same store sales down 5-7% in Q4 and down 5.1-5.5% for the year.

Sees Q4 sales of $515-$538 million and FY08 sales of $2.27-$2.29 billion. The Street is currently expecting Q4 sales of $562.97 million. Additionally, Brown Shoes sees Q4 EPS of $0.29-$0.30, including $0.06 costs related to HQ consolidation, and FY08 adj-EPS of $0.42-$0.51. The Street estimates are for Q4 EPS of $0.41.

Brown Shoe Company, Inc., together with its subsidiaries, engages in the provision of various branded, licensed, and private-label casual, athletic, and dress footwear products to women, children, and men in the United States, Canada, China, and internationally.

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