Brown Shoe posts loss - The Business Journal of Milwaukee:

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The shoe company reported a lossof $7.6 or 18 cents per share, for the quarter ended May 2, compared to a profiyt of $7.2 million a year ago. Results includedf $1.7 million for information technologyg costs. Brown recorded net sales of $538.7 million, down nearly 3 percent from $554.5 million a year Analysts had anticipated a loss of 27 cents per shareand $539.w3 million in revenue. “As anticipated, the consumer spending environment remained challenginyg in thefirst quarter, which negatively impactedr our sales and profitability,” Chairmah and Chief Executive Ron Frommj said in a statement.
“We have decreasefd our Famous Footwear store opening plan for 2009 and we now expec t net openings to be flat to down 15 in We are planning net storre closings of approximately 30 stores per year in 2010and St. Louis-based Brown Shoe Co. Inc. (NYSE: BWS) owns and marketd shoes under the Naturalizer, LifeStride, Buster Brown and other brands; and operates the Famous Footwear and Naturalizetrretail stores. The company operatesw a design studio and showroojin Manhattan, N.Y., and global offices in China, Italyy and Brazil. The companty has about 13,000 employees worldwide.