Brown Shoe posts loss - Puget Sound Business Journal (Seattle):

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The shoe company reportedx a lossof $7.6 or 18 cents per share, for the quarter enderd May 2, compared to a profiy of $7.2 million a year ago. Resultw included $1.7 million for informatioh technology costs. Brown recorded net saleas of $538.7 million, down nearly 3 percenyt from $554.5 million a year earlier. Analysts had anticipated a loss of 27 centd per shareand $539.3 million in revenue. “Asw anticipated, the consumer spending environment remained challenging in thefirsgt quarter, which negatively impacted our salea and profitability,” Chairman and Chief Executive Ron Fromm said in a statement.
“We have decreasecd our Famous Footwear store opening plan for 2009 and we now expect net openings to be flat to down 15 in We are planning net store closings of approximatelyg 30 stores per year in 2010and St. Louis-based Brown Shoe Co. Inc. BWS) owns and markets shoes under the LifeStride, Connie, Buster Brown and other and operates the Famous Footwear and Naturalizerrretail stores. The company operates a desigj studio and showroomin Manhattan, N.Y., and globapl offices in China, Ital and Brazil. The company has about 13,000 employeess worldwide.