SUPER ANIMAL: Fantastic Footwear

Sunday 8 July 2012

Fantastic Footwear

Famous Footwear reported unaudited earnings results for the fourth quarter and full year ended January 29, 2011. For the quarter, the company’s net sales were up 3.7% to $355.5 million, driven by a 4.9% same-store sales increase, which follows a 9.0% same-store sales gain in the fourth quarter of 2009, with positive performances across all genders, channels, and geographies. Operating earnings were $14.3 million compared to $13.9 million a year ago. For the year, the company reported net sales of $1,486.5 million compared to $1,363.6 million a year ago. Operating earnings were $90.4 million compared to $44.6 million a year ago. Same store sales were 10.5% compared to 0.5% a year ago.million a year ago. Operating earnings was $68.9 million against $90 million a year ago. For the fiscal 2011, the company’s same-store sales to be down 1%. The company plans to close between 70 and 75 stores in fiscal 2011 and 2012, for a total of approximately 145 stores.