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Rising Stock Alert - (NYSE:BWS) climbs 5% in Opening Session
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Brown Shoe Company, Inc. (NYSE:BWS) climbed 5% to $11.92 after it posted preliminary quarterly revenue above market estimates and forecast better-than-expected earnings for the period, helped in part by the success of its Famous Footwear line.
The company, which is scheduled to report third-quarter results on Nov. 24, expects to earn 36 cents to 37 cents a share in the quarter ended Oct. 31, compared with 25 cents a share, a year earlier.
Excluding charges, it sees earnings of 40 cents to 41 cents a share. Analysts on average were expecting 30 cents, before items, according to Thomson Reuters I/B/E/S.
Revenue fell 1 percent to $625.6 million, topping expectations of $600 million.
Famous Footwear same-store sales rose 4.7 percent, compared with a 5 percent fall in the year-ago quarter.
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