Wednesday, May 29, 2013

Investopedia: Brown Shoe Continues Its Turnaround With Sharper Execution

Fairness demands that I open this article on Brown Shoe (NYSE:BWS) with an admission and an apology – I was wrong about the company's decision to name Diane Sullivan CEO back in May of 2011. While I had thought the company numerous operational missteps during her tenure as COO boded poorly for her future as CEO, the fact is that her strategy of weeding out underperformance at Famous Footwear and selling off unpromising wholesale brands has led to some meaningful operational improvements. There are still challenges for the company to address, but I can no longer cite questions about management as a credible source of concern.

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