Famous Footwear 2013 Annual Report Download - page 3

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DEAR
SHAREHOLDERS
Our Values
+ Trust and transparency
+ Personal accountability
+ A passion for winning
+ Integrity
2013 BROWN SHOE COMPANY ANNUAL REPORT 1
+ 2.9% FAMOUS FOOTWEAR SAME-STORE-SALES
The combined eorts across our entire organization –
and the continued focus on our strategic framework
– have helped us to deliver on our key strategies,
which resulted in a more than 50% increase in our
stock price for calendar 2013 and earnings per
share improvement of nearly 25%. Since we began
our portfolio realignment review and eorts in 2011,
we have doubled our earnings and worked each
quarter to meet or exceed Street expectations.
Brown Shoe Company delivered another excellent year in 2013,
with adjusted earnings of $1.41 per diluted share,
as we exceeded both Street expectations and internal plans.
For 2013, we saw improvement at both our retail and
wholesale businesses, with Famous Footwear same-store-
sales up 2.9%. This performance followed record setting
second and third quarter same-store-sales at Famous Footwear
and included a 5.6% increase for the key back-to-school
selling season. Famous Footwear also delivered record
operating earnings of $107 million, with operating margin
of 7.0%. Revenue per square foot at Famous Footwear
came in at $207, up 4% over 2012 and up 24% since 2009.