Brown Shoe (NYSE:BWS), the third-largest footwear retailer in the country and a major wholesaler to other retailers like Wal-Mart (NYSE:WMT) and Kohl's (NYSE:KSS), has seemingly been in perpetual turnaround for the better part of a decade. Although the company still has much to prove to the Street and the stock is off its lows, sustained operational improvements could make this stock a real winner in the years to come. (For more, see Earning Forecasts: A Primer.)
A Two-Part Business
Many readers will be familiar with Brown Shoe through its retail system. Brown Shoe operates the third-largest chain of footwear stores (Famous Footwear) after Collective Brands' (NYSE:PSS), Payless ShoeSource and Foot Locker (NYSE:FL), as well as specialty stores like Naturalizer. Perhaps less familiar is the company's wholesale business - a business that supplies brands like Sam Edelman to stores like Nordstrom (NYSE:JWN) and Saks (NYSE:SKS).
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