Two major US shoe retailers reported results this morning, and both blew through estimates. Brown Shoe Co. (NYSE: BWS), which owns the Famous Footwear stores among other brands, and Footlocker Inc. (NYSE: FL) both posted higher earnings and revenues and the two companies’ stocks are making a big move as a result.
Brown Shoe posted adjusted EPS of $0.23 versus a consensus estimate of $0.09. Revenue totaled $626.4 million compared with an estimate of $600.7 million. The company also guided full-year EPS to $0.83-$0.95, while the consensus estimate had been $0.86. Revenue guidance of $2.57-$2.59 billion was also higher than the $2.55 billion estimate.
Footlocker posted EPS of $0.83 versus a consensus estimate of $0.74. Revenue totaled $1.58 billion compared with an estimate of $1.55 billion. The company did not provide guidance in its press release, but the consensus estimate for the current quarter calls for EPS of $0.31 on revenue of $1.34 billion. For the full year, Footlocker is expected to show EPS of $2.28 on revenue of $6.01 billion.
Shares of Footlocker are up 9.8% at $30.76 in a 52-week range of $16.66-32.27. Brown Shoe is up more than 15% at $10.09 in a 52-week range of $5.85-$11.42.