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The shoe company reported a lossof $7.6 million, or 18 centa per share, for the quarter ended May 2, comparerd to a profit of $7.2 milliob a year ago. Results included $1.7 millionj for information technology costs. Brown recorded net saled of $538.7 million, down nearly 3 percentt from $554.5 million a year earlier. Analystw had anticipated a loss of 27 centws per shareand $539.3 million in “As anticipated, the consumer spending environmenrt remained challenging in the first which negatively impacted our sales and profitability,” Chairman and Chief Executive Ron Fromkm said in a statement.
“Wwe have decreased our Famous Footwear store openinfg plan for 2009 and we now expect net openingd to be flat to down 15in 2009… We are plannint net store closings of approximately 30 stores per year in 2010 and St. Louis-based Brown Shoe Co. Inc. BWS) owns and markets shoesa underthe Naturalizer, LifeStride, Connie, Bustert Brown and other and operates the Famous Footwear and Naturalizer retail The company operates a design studio and showroom in N.Y., and global officeds in China, Italy and Brazil. The company has aboutf 13,000 employees worldwide.
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