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Brown Shoe Co. Inc.
Standard & Poors, Sep 2010
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; and Aggressive financial profile with fair cash flow protection metrics. The speculative-grade ratings on Brown Shoe Co. Inc. reflect Standard & Poor's Ratings Services' analysis of 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 aggressive financial profile with fair credit protection metrics. Brown Shoe demonstrated significant improvement over the past year with trends continuing into the second quarter. Same-store sales increased 11.8% at Famous Footwear and 6.8% at the Specialty Retail...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Review
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