fiscal 2005 net sales are currently estimated at $2.3 billion, versus fiscal 2004 net sales of $1.9 billion.
for the second quarter, brown shoe estimates diluted earnings per share will be in the range of $0.27 to $0.32, versus $0.40 for the second quarter of last year. this estimate includes $0.06 dilution from lower margins on the acquired bennett inventory, which was adjusted to fair market value as of the acquisition date.
in addition, the company expects lower margins in anticipation of sandal clearance sales at famous footwear. also, incentive compensation costs are expected to be higher in the second quarter than in the year-ago period due to the fact that in the second quarter 2004, the company reduced such compensation costs when its earnings projections declined.
brown shoe is a $2.3 billion footwear company with worldwide operations. the company operates the 900+ store famous footwear chain, which sells brand name shoes for the family.
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