- Language: English
- Published: December 2011
Summary: Brown Shoe Co. Inc.
- ID: 1752376
- August 2008
- Standard & Poors
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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 competes against specialty footwear retailers, department stores, mass market discounters, and other wholesalers. An increasing number of footwear retailers are competing on the basis of price, which has pressured Brown Shoe to keep selling prices low. Although the industry remains highly competitive, the company...
Companies mentioned in this report are: Brown Shoe Co. Inc.
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