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82 2012 BROWN SHOE COMPANY, INC. FORM 10-K
19. QUARTERLY FINANCIAL DATA (Unaudited)
Quarterly financial results (unaudited) for the years 2012 and 2011 are as follows:
Quarters
First Quarter Second Quarter Third Quarter Fourth Quarter
($ thousands, except per share amounts) (13 weeks) (13 weeks) (13 weeks) (14 weeks)
2012
Net sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $626,441 $599,279 $732,169 $640,176
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239,064 233,814 285,782 251,699
Net earnings (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,628 (2,714) 24,287 4,003
Net earnings (loss) attributable to Brown Shoe Company, Inc. . . . . . . 1,695 (2,535) 24,292 4,039
Per share of common stock:
Basic earnings (loss) per common share attributable
to Brown Shoe Company, Inc. shareholders (1) . . . . . . . . . . . 0.04 (0.06) 0.57 0.09
Diluted earnings (loss) per common share attributable
to Brown Shoe Company, Inc. shareholders (1) . . . . . . . . . . . 0.04 (0.06) 0.56 0.09
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.07 0.07 0.07 0.07
Market value:
High. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.30 14.24 16.88 19.64
Low . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.49 8.28 13.22 14.76
(1) EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete period basis.
Quarters
First Quarter Second Quarter Third Quarter Fourth Quarter
($ thousands, except per share amounts) (13 weeks) (13 weeks) (13 weeks) (13 weeks)
2011
Net sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 619,555 (1) $ 620,590 (1) $713,788 $628,891
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247,964 (1) 233,605 (1) 276,498 238,573
Net earnings (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,641 (4,768) 33,693 (8,176)
Net earnings (loss) attributable to Brown Shoe Company, Inc. . . . . . 3,688 (4,609) 33,732 (8,222)
Per share of common stock:
Basic earnings (loss) per common share attributable
to Brown Shoe Company, Inc. shareholders (2) . . . . . . . . . . 0.08 (0.11) 0.80 (0.21)
Diluted earnings (loss) per common share attributable
to Brown Shoe Company, Inc. shareholders (2) . . . . . . . . . . 0.08 (0.11) 0.79 (0.21)
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.07 0.07 0.07 0.07
Market value:
High. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.77 12.79 10.31 9.72
Low . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.39 8.85 5.85 7.51
(1) Adjusted from amounts previously reported in the Company’s Form 10-Q for the financial results related to TBMC. TBMC was acquired in
the first quarter of 2011 and sold in the subsequent third quarter of 2011. The historical financial results of TBMC have been reclassified and
presented as discontinued operations.
(2) EPS for the quarters may not sum to the amounts for the year as each period is computed on a discrete period basis.
The fourth quarter of 2012 included $2.9 million ($1.8 million after-tax, or $0.05 per diluted share) of charges related to the
Company’s portfolio realignment initiatives.
The fourth quarter of 2011 included:
• $14.7 million ($9.3 million after-tax, or $0.23 per diluted share) of charges related to the Company’s portfolio
realignment initiatives,
• $2.9 million ($1.6 million after-tax, or $0.04 per diluted share) of costs related to the integration of ASG, and
• $0.9 million ($1.4 million after-tax, or $0.04 per diluted share) as a reduction to the gain on sale of a subsidiary.