Brown Shoe posts loss - Washington Business Journal:

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The shoe company reported a lossof $7.6 or 18 cents per share, for the quartetr ended May 2, comparex to a profit of $7.2 million a year ago. Resulta included $1.7 million for information technology Brown recorded net salesof $538.7 million, down nearly 3 percent from $554.5 million a year earlier. Analystzs had anticipated a loss of 27 centa per shareand $539.4 million in revenue. “As anticipated, the consume r spending environment remained challenginv in thefirst quarter, which negatively impacted our sales and profitability,” Chairman and Chiefr Executive Ron Fromm said in a statement.
“Wer have decreased our Famous Footwear store openinf plan for 2009 and we now expect net openings to be flat to down 15 in We are planning net store closings of approximatelty 30 stores per year in 2010and St. Louis-based Brown Shoe Co. Inc. BWS) owns and markets shoes undet the Naturalizer, LifeStride, Connie, Buster Brown and other and operates the Famous Footwear and Naturalizerretaikl stores. The company operatees a design studio and showroomin N.Y., and global offices in China, Italy and Brazil. The compant has about 13,000 employees worldwide.