“Wholesale overachieved again, with sales up 18.2% in third quarter, and both Healthy Living and Contemporary Fashion contributed strong double-digit sales improvement. At Famous Footwear, our focus on big ideas for back-to-school continued to deliver. Same-store-sales were up 1.6%, for the 10 weeks that make up this key selling season”, commented Diane Sullivan, CEO, President and Chairman of Brown Shoe Company, adding: “Although our biggest quarter of the year is past, with nine strong months behind us and an easier comp ahead of us for the fourth quarter we expect to deliver a strong 2014.”

Brown Shoe Company reported its third quarter 2014 financial results, with net sales of 729.3 million US dollars up 3.8% versus third quarter 2013 net sales of 702.8 million US dollars. Third quarter 2014 net earnings reached 33.1 million US dollars, or 0.75 US dollars per diluted share, were up 21.2% compared to net earnings in similar period in 2013.

Famous Footwear third quarter 2014 sales of 435.4 million US dollars were down 1.0% year-over-year, with same-store-sales down 0.2%. Performance in the quarter was driven by continued strong growth in canvas and aided by an increase in both sandals and boots. During the quarter, six stores were closed or relocated and 12 new stores were added.

Wholesale sales of 242.6 million US dollars were up 18.2% in the quarter. For the Healthy Living platform, wholesale sales of 118.3 million US dollars were up 12.4%, while Contemporary Fashion wholesale sales of 124.1 million US dollars increased by 24.4%.

“Thanks to strong wholesale results in the third quarter, along with steady performance at Famous Footwear, we are raising our full-year EPS guidance to 1.65 US dollars to 1.69 US dollars”, stated Russ Hammer, Chief Financial Officer of Brown Shoe Company, adding, “While we expect to end the year on a positive note, we remain aware of the promotional potential at retail for the holiday season and alert to possible shifts in consumer sentiment.”

Brown Shoes shares were last traded on the 26th November at 32.37 USD at the New York Stock Exchange.