Brown Shoe profit beats on strong back-to-school season

Tue Nov 20, 2012 7:13am EST

Nov 20 (Reuters) - Brown Shoe Co Inc's profit beat analysts' estimates for the third consecutive quarter, helped by a strong back-to-school season and higher sales at its Famous Footwear stores.

The company, which also operates Naturalizer stores, said third-quarter profit fell to $24.3 million, or 56 cents per share, from $33.7 million, or 79 cents per share, a year earlier.

Excluding certain items, Brown Shoe earned 60 cents per share. Analysts on average had expected a profit of 46 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 3 percent to $732.2 million, above the average market estimate of $703.3 million.

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