|
|
 |
|
Viewing report
|
|
|
|
Brown Shoe Co. Inc. Dec 11
Standard & Poors, Dec 2011
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; Inconsistent operating performance; Low profitability relative to peers; and Substantial leverage and thin cash flow protection metrics. The rating on Brown Shoe Co. Inc. reflects recent performance that has been moderately below Standard & Poor's Ratings Services' expectations as well as that of its peers. We believe further erosion over the near term is likely because of store closures, exit of certain wholesale, specialty, and private brands, and a continued decline in toning shoe demand. As a result, we expect the company's credit protection profile is likely to deteriorate over the next...
Companies mentioned in this report are: Brown Shoe Co. Inc.
Action: Review
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
|
|
|
|
