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Brown Shoe Co. Inc.
Standard & Poors, Aug 2008
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Largest specialty family footwear retailer in the U.S.; and Diversified sourcing and wholesale customer base. Participation in the intensely competitive, mature, and fragmented wholesale and retail footwear industry; Low profitability relative to peers; Cost increases from suppliers likely to hurt performance; and Substantial leverage. The ratings on Brown Shoe Co. Inc. reflect the company's participation in the mature, competitive, and fragmented wholesale and retail footwear business, low operating margins relative to those of its peers, and only fair credit protection measures. The company's good market position and a diversified sourcing and wholesale customer base temper these factors somewhat. Competition in the footwear industry remains intense and the industry has seen a number of consolidations over the past year. Brown Shoe...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Review
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