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Brown Shoe posts lower first-quarter profit
May 21, 2008 / 11:37 AM / in 10 years

Brown Shoe posts lower first-quarter profit

NEW YORK, May 21 (Reuters) - Brown Shoe Co Inc BWS.N posted a lower first-quarter profit on Wednesday, as consumers reeled in their purchases of discretionary items like shoes and clothes amid rising fuel and food costs.

Brown Shoe’s net earnings fell to $7.2 million, or 17 cents a share, in the quarter that ended May 3, compared to $9.6 million or 22 cents a share in the year-earlier period. (Reporting by Aarthi Sivaraman; Editing by Derek Caney)

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