Boston, MA 05/30/2013 (wallstreetpr) – The share prices of Brown Shoe Company Inc. (NYSE:BWS) had surged by 11.76 percent to close at $20.71 per share for the end of last trading session. The shares of the global footwear retailer and wholesaler had been trading in the range of $18.55 to $21.42 per share during the day before closing at $2.18 per share increase over the previous day’s closing price.
First Quarter Financial Results
The surge in share prices of Brown Shoe Company Inc. (NYSE:BWS) had been owed to the release of financial results for the first quarter of 2013 in which the footwear company had registered consolidated gross profits margin improvement by 140 basis points. The company reported a net loss of 10.8 million which translates into 26 cents loss per basic and diluted share.
However, the GAAP adjusted net earnings of Brown Shoe Company Inc. (NYSE:BWS) was reported to be $13.8 million or $0.32 per basic and diluted share, which was an increase of 37.7 percent over the same quarter of previous year. Further, the footwear company also reported an operating profit of $29 million at Famous Footwear through strategic consumer conversion related to real estate, inventory and omni channel efforts.
The shares of Brown Shoe Company Inc. (NYSE:BWS) had thereby jumped to their new 52 week high price level at $21.42 per share and the 52 week low price level of the shares is at $11.03 per share. The company presently holds 42.9 million shares outstanding with an institutional ownership of 84 percent of its holdings.
