Brown Shoe Company Inc. provided earnings guidance for the fiscal 2013. The company announced it has sold Avia and Nevados for $74 million, with the transaction closing immediately. Galaxy Brand Holdings Inc. acquired the Avia and Nevados brands, while Brown Shoe Company is retaining Ryka, and other brands, and plans to use the proceeds from the sale to pay down debt. Brown Shoe Company acquired Avia and Nevados as part of its American Sporting Goods (ASG) acquisition completed in February 2011 for $145 million and assumed debt. In October of 2011, the company sold the AND 1 brand, which was also part of the ASG acquisition, for $55 million. The realignment and integration related costs associated with this transaction are expected to result in a charge of $15 million to $17 million in fiscal 2013, or approximately $0.28 to $0.33 per diluted share on a GAAP basis. Of this amount, $11 million to $13 million is expected to be non-cash.

Brown Shoe Co. Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended February 2, 2013. For the quarter, the company has posted net sales of $640,176,000 against $628,891,000 a year ago. Operating earnings was $10,504,000 against operating loss of $7,893,000 a year ago. Net earnings from continuing operations were $4,003,000 or $0.09 diluted per share against net loss from continuing operations was $6,767,000 or $0.17 diluted per share a year ago. Net earnings attributable to Brown Shoe Company Inc. were $4,039,000 or $0.09 diluted per share against net loss attributable to Brown Shoe Company Inc. was $8,222,000 or $0.21 diluted per share a year ago. Adjusted net earnings from continuing operations were $5,830,000 against $4,147,000 a year ago. Adjusted net earnings attributable to Brown Shoe Company Inc. after allocation of earnings to participating securities were $5,577,000 or $0.14 diluted per share against $3,919,000 or $0.10 diluted per share a year ago. Earnings before income taxes from continuing operations were $4.64 million compared to a loss of $13.73 million reported a year ago. For the year, the company has posted net sales of $2,598,065,000 against $2,582,824,000 a year ago. Operating earnings was $61,607,000 against $35,550,000 a year ago. Net earnings from continuing operations were $27,204,000 or $0.64 diluted per share against $8,724,000 or $0.20 diluted per share a year ago. Net earnings attributable to Brown Shoe Company Inc. were $27,491,000 or $0.64 diluted per share against $24,589,000 or $0.56 diluted per share a year ago. Net cash provided by operating activities was $197,937,000 against $48,086,000 a year ago. Capital expenditure was $63,729,000 against $38,564,000 a year ago. Acquisition cost was $5,000,000 against $156,636,000 a year ago. Adjusted net earnings from continuing operations were $48,306,000 against $28,394,000 a year ago. Adjusted net earnings attributable to Brown Shoe Company Inc. after allocation of earnings to participating securities were $46,189,000 or $1.13 diluted per share against $28,987,000 or $0.70 diluted per share a year ago. Earnings before income taxes from continuing operations were $38.55 million compared to $9.05 million reported a year ago. For the fiscal 2013, the company expects consolidated net sales of $2.55 billion to $2.58 billion and effective tax rate of 33% to 35%. The company also expects earnings per diluted share of $1.16 to $1.23; adjusted earnings per diluted share of $1.18 to $1.25; depreciation and amortization of $54 million to $56 million and capital expenditures of $50 million to $55 million.

Brown Shoe Company Inc. declared a quarterly dividend of $0.07 per share, payable April 1, 2013, to shareholders of record on March 25, 2013. This dividend will be the 361st consecutive quarterly dividend paid by the company.