Brown Shoe Realigns Reportable Segments 

Brown Shoe Realigns Reportable Segments 

Brown Shoe Company is realigning its reportable segments following the sale of Shoes.com in December. The new segments are Famous Footwear and Brand Portfolio.

Previously, it had three segments: Famous Footwear, Wholesale Operations and Specialty Retail.

Brown Shoe said the new segments align with the way the executive team evaluates performance and allocates resources, and are also consistent with the company’s omni-channel approach to managing its branded footwear business across all distribution channels.

“Our new reportable segments are designed to align our brands and businesses with our internal operations and to provide increased financial visibility,” said Ken Hannah, chief financial officer of Brown Shoe Company. “We expect this new reporting structure will improve clarity for investors and allow for easier financial modeling and peer comparisons.”

The reportable segments will include the following:

  • Famous Footwear will include Famous Footwear retail operations, on a historical and continuing basis, and Shoes.com through December 12, 2014.
  • Brand Portfolio will include Healthy Living and Contemporary Fashion wholesale brands and any related retail operations.

Its Healthy Living brands include Naturalizer, Dr. Scholl’s, LifeStride and Ryka. Its Contemporary Fashion brands are Sam Edelman, Franco Sarto, Vince, Via Spiga, Fergie Footwear and Carlos Santana.

Quarterly historical segment results for 2013 and 2014, are included in this release as schedules. The company’s fourth quarter and full year 2014 results will reflect the new reportable segments. Fourth-quarter results are coming out Mar. 11.