Shoemaker Brown&Nbsp; Shoe Annual Revenue Will Show Low Double-Digit Growth

August 26th hearing footwear retailer BrownShoeCo.Inc (BWS) said that the second quarter turned around and surpassed profits.

In the fiscal quarter of July 31st, the company's net profit was $5 million 300 thousand, or 12 cents per share.

In the same period last year, the company lost 4 million 200 thousand US dollars, or 10 cents per share.

After deducting expenses related to a technology plan and other one-time items, the company earned 15 cents a share in the quarter, much better than the 7 loss per share in the same period last year.

Analysts surveyed by Thomson Reuters average expected earnings of 9 cents per share and $580 million in revenue.

The company's FamousFootwear revenue grew by nearly 11% to $357 million, while same store sales increased by 11.8%.

Wholesale sector revenue grew 26% to $179 million, while the retail sector grew by about 8% to $59 million 800 thousand.

BrownShoe said that although the initial performance of the homecoming season was exhilarating, the annual revenue growth was expected to be low double-digit growth.

The company had expected annual revenue to show high unit to low double-digit growth.

Analysts expect the company to earn $2 billion 440 million in fiscal year 2010.

The company plans to open 30 to 35 FamousFootwear stores this year and close 50.