Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Nov. 02, 2013 | Nov. 29, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 2-Nov-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'BROWN SHOE CO INC | ' |
Entity Central Index Key | '0000014707 | ' |
Current Fiscal Year End Date | '--02-01 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 43,176,782 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash and cash equivalents | $42,406 | $68,223 | $40,884 |
Receivables, net | 112,491 | 111,392 | 113,519 |
Inventories, net | 544,589 | 503,688 | 512,206 |
Prepaid expenses and other current assets | 52,234 | 42,016 | 30,511 |
Current assets – discontinued operations | 181 | 47,109 | 56,365 |
Total current assets | 751,901 | 772,428 | 753,485 |
Other assets | 111,647 | 119,695 | 134,664 |
Goodwill | 13,954 | 13,954 | 13,954 |
Intangible assets, net | 61,227 | 65,749 | 67,265 |
Noncurrent assets – discontinued operations | ' | 54,577 | 54,754 |
Property and equipment | 428,137 | 437,745 | 432,459 |
Allowance for depreciation | -279,955 | -292,889 | -292,477 |
Net property and equipment | 148,182 | 144,856 | 139,982 |
Total assets | 1,086,911 | 1,171,259 | 1,164,104 |
Liabilities and Equity | ' | ' | ' |
Borrowings under revolving credit agreement | ' | 105,000 | 110,000 |
Trade accounts payable | 200,706 | 213,660 | 173,856 |
Other accrued expenses | 151,142 | 137,190 | 145,687 |
Current liabilities – discontinued operations | 2,110 | 13,259 | 13,935 |
Total current liabilities | 353,958 | 469,109 | 443,478 |
Other liabilities | ' | ' | ' |
Long-term debt | 198,963 | 198,823 | 198,773 |
Deferred rent | 37,548 | 33,711 | 30,714 |
Other liabilities | 44,483 | 36,719 | 51,999 |
Noncurrent liabilities – discontinued operations | ' | 6,996 | 7,203 |
Total other liabilities | 280,994 | 276,249 | 288,689 |
Equity | ' | ' | ' |
Common stock | 432 | 429 | 429 |
Additional paid-in capital | 125,831 | 121,593 | 119,665 |
Accumulated other comprehensive (loss) income | -21 | 884 | 9,856 |
Retained earnings | 325,059 | 302,223 | 301,188 |
Total Brown Shoe Company, Inc. shareholders' equity | 451,301 | 425,129 | 431,138 |
Noncontrolling interests | 658 | 772 | 799 |
Total equity | 451,959 | 425,901 | 431,937 |
Total liabilities and equity | $1,086,911 | $1,171,259 | $1,164,104 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Earnings (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Condensed Consolidated Statements Of Earnings [Abstract] | ' | ' | ' | ' |
Net sales | $702,788 | $695,985 | $1,913,150 | $1,859,061 |
Cost of goods sold | 424,548 | 416,650 | 1,140,268 | 1,117,818 |
Gross profit | 278,240 | 279,335 | 772,882 | 741,243 |
Selling and administrative expenses | 233,572 | 236,196 | 678,522 | 659,377 |
Restructuring and other special charges, net | ' | 2,146 | 1,262 | 19,660 |
Impairment of assets held for sale | ' | ' | 4,660 | ' |
Operating earnings | 44,668 | 40,993 | 88,438 | 62,206 |
Interest expense | -5,254 | -5,398 | -16,167 | -17,079 |
Interest income | 132 | 76 | 282 | 236 |
Earnings before income taxes from continuing operations | 39,546 | 35,671 | 72,553 | 45,363 |
Income tax provision | -12,495 | -11,418 | -24,522 | -15,275 |
Net earnings from continuing operations | 27,051 | 24,253 | 48,031 | 30,088 |
Discontinued operations: | ' | ' | ' | ' |
Earnings (loss) from discontinued operations, net of tax (expensea) benefit of ($114), $19, $6,057 and $4,565, respectively | 233 | 34 | -4,784 | -6,887 |
Impairment of net assets/disposition of discontinued operations, net of $0 tax benefit | ' | ' | -11,512 | ' |
Net earnings (loss) from discontinued operations | 233 | 34 | -16,296 | -6,887 |
Net earnings | 27,284 | 24,287 | 31,735 | 23,201 |
Net loss attributable to noncontrolling interests | -30 | -5 | -174 | -251 |
Net earnings attributable to Brown Shoe Company, Inc. | $27,314 | $24,292 | $31,909 | $23,452 |
Basic earnings (loss) per common share: | ' | ' | ' | ' |
From continuing operations | $0.63 | $0.57 | $1.12 | $0.71 |
From discontinued operations | ' | ' | ($0.38) | ($0.16) |
Basic earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $0.63 | $0.57 | $0.74 | $0.55 |
Diluted earnings (loss) per common share: | ' | ' | ' | ' |
From continuing operations | $0.62 | $0.56 | $1.11 | $0.71 |
From discontinued operations | $0.01 | ' | ($0.38) | ($0.16) |
Diluted earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $0.63 | $0.56 | $0.73 | $0.55 |
Dividends per common share | $0.07 | $0.07 | $0.21 | $0.21 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Earnings (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Condensed Consolidated Statements Of Earnings [Abstract] | ' | ' | ' | ' |
Earnings (loss) from discontinued operations, tax (expense) benefit | ($114) | $19 | $6,057 | $4,565 |
Impairment of net assets/disposition of discontinued operations, tax | $0 | $0 | $0 | $0 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Condensed Consolidated Statement Of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Net earnings | $27,284 | $24,287 | $31,735 | $23,201 |
Other comprehensive (loss) income, net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment | -100 | 557 | -1,690 | 545 |
Pension and other post retirement benefits adjustments, net of tax of $82, $0, $252 and $0, respectively | 138 | ' | 419 | ' |
Unrealized gains (losses) on derivative financial instruments, net of tax of $61, $240, $308 and $204, respectively | 79 | 403 | 714 | -487 |
Net (gains) losses from derivatives reclassified into earnings, net of tax of $57, $65, $182 and $76, respectively | -111 | 137 | -348 | 161 |
Other comprehensive income (loss), net of tax | 6 | 1,097 | -905 | 219 |
Comprehensive income | 27,290 | 25,384 | 30,830 | 23,420 |
Comprehensive (loss) income attributable to noncontrolling interest | -25 | 2 | -114 | -248 |
Comprehensive income attributable to Brown Shoe Company, Inc. | $27,315 | $25,382 | $30,944 | $23,668 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Condensed Consolidated Statement Of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Pension and other post retirement benefits adjustments, tax | $82 | $0 | $252 | $0 |
Unrealized gains (losses) on derivative financial instruments, tax | 61 | 240 | 308 | 204 |
Net (gains) losses from derivatives reclassified into earnings, tax | $57 | $65 | $182 | $76 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Operating Activities | ' | ' |
Net earnings | $31,735 | $23,201 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Depreciation | 26,645 | 25,076 |
Amortization of capitalized software | 9,728 | 9,945 |
Amortization of intangible assets | 4,741 | 5,436 |
Amortization of debt issuance costs and debt discount | 1,885 | 1,885 |
Share-based compensation expense | 4,066 | 4,776 |
Tax benefit related to share-based plans | -2,581 | -889 |
Loss on disposal of facilities and equipment | 960 | 2,177 |
Impairment charges for facilities and equipment | 1,072 | 2,481 |
Impairment of assets held for sale | 4,660 | ' |
Impairment of intangible assets | ' | 5,777 |
Impairment of net assets/disposition of discontinued operations | 11,512 | ' |
Net loss on sale of subsidiaries | 576 | ' |
Deferred rent | 3,837 | -1,647 |
Provision for doubtful accounts | 388 | 398 |
Changes in operating assets and liabilities, net of dispositions: | ' | ' |
Receivables | -385 | 15,063 |
Inventories | -41,180 | 22,523 |
Prepaid expenses and other current and noncurrent assets | -6,748 | 17,852 |
Trade accounts payable | -12,933 | -7,213 |
Accrued expenses and other liabilities | 23,848 | 18,113 |
Other, net | 159 | -1,431 |
Net cash provided by operating activities | 61,985 | 143,523 |
Investing Activities | ' | ' |
Purchases of property and equipment | -37,888 | -39,081 |
Capitalized software | -3,715 | -5,436 |
Acquisition cost | ' | -5,000 |
Proceeds from sale of subsidiaries, net of cash balance of $4,370 | 69,347 | ' |
Net cash provided by (used for) investing activities | 27,744 | -49,517 |
Financing Activities | ' | ' |
Borrowings under revolving credit agreement | 966,000 | 582,000 |
Repayments under revolving credit agreement | -1,071,000 | -673,000 |
Dividends paid | -9,073 | -9,007 |
Issuance of common stock under share-based plans, net | -2,406 | -1,860 |
Tax benefit related to share-based plans | 2,581 | 889 |
Net cash used for financing activities | -113,898 | -100,978 |
Effect of exchange rate changes on cash and cash equivalents | -1,648 | 174 |
Decrease in cash and cash equivalents | -25,817 | -6,798 |
Cash and cash equivalents at beginning of period | 68,223 | 47,682 |
Cash and cash equivalents at end of period | $42,406 | $40,884 |
Condensed_Consolidated_Stateme5
Condensed Consolidated Statements Of Cash Flows (Parenthetical) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Nov. 02, 2013 |
Condensed Consolidated Statements Of Cash Flows [Abstract] | ' |
Cash balance | $4,370 |
Basis_Of_Presentation
Basis Of Presentation | 9 Months Ended | |
Nov. 02, 2013 | ||
Basis Of Presentation [Abstract] | ' | |
Basis Of Presentation | ' | |
Note 1 | Basis of Presentation | |
The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the United States Securities and Exchange Commission (“SEC”) and reflect all adjustments and accruals of a normal recurring nature, which management believes are necessary to present fairly the financial position, results of operations, comprehensive income and cash flows of Brown Shoe Company, Inc. (the “Company”). These statements, however, do not include all information and footnotes necessary for a complete presentation of the Company's consolidated financial position, results of operations, comprehensive income and cash flows in conformity with accounting principles generally accepted in the United States. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries, after the elimination of intercompany accounts and transactions. | ||
The Company’s business is seasonal in nature due to consumer spending patterns, with higher back-to-school and Christmas and Easter holiday season sales. Traditionally, the third fiscal quarter accounts for a substantial portion of the Company’s earnings for the year. Interim results may not necessarily be indicative of results which may be expected for any other interim period or for the year as a whole. | ||
Certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications did not affect net earnings attributable to Brown Shoe Company, Inc. | ||
For further information, refer to the consolidated financial statements and footnotes included in the Company's Annual Report on Form 10-K for the year ended February 2, 2013. | ||
Impact_Of_New_Accounting_Prono
Impact Of New Accounting Pronouncements | 9 Months Ended | |
Nov. 02, 2013 | ||
Impact Of New Accounting Pronouncements [Abstract] | ' | |
Impact Of New Accounting Pronouncements | ' | |
Note 2 | Impact of New Accounting Pronouncements | |
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present, either on the face of the statement where net earnings are presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income, but only if the amount is required under accounting principles generally accepted in the United States ("U.S. GAAP") to be reclassified to net earnings in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net earnings, entities are required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail on these amounts. This standard is effective prospectively for reporting periods beginning after December 15, 2012. The Company adopted this guidance on February 3, 2013. See Note 9 to the condensed consolidated financial statements for additional information. | ||
In March 2013, the FASB issued ASU No. 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard provides guidance on releasing cumulative translation adjustments to net earnings when an entity ceases to have a controlling financial interest in a subsidiary or business within a foreign entity. The cumulative translation adjustments should be released only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets resides. This standard is effective prospectively for reporting periods beginning after December 15, 2013. The adoption of this newly issued guidance is not expected to have a material impact on the Company’s condensed consolidated financial statements. | ||
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This guidance requires entities to present an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss (“NOL”) carryforward, similar tax loss, or tax credit carryforward, rather than as a liability, when the uncertain tax position would reduce the NOL or other carryforward under the tax law. The amendments in this ASU do not require new recurring financial disclosures. The guidance is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. The adoption of this presentation guidance is not expected to have a material impact on the Company’s condensed consolidated financial statements. | ||
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Discontinued Operations | ' | ||||||||
Note 3 | Discontinued Operations | ||||||||
The Company’s discontinued operations included the Avia and Nevados brands of the American Sporting Goods division, as well as the Etienne Aigner and Vera Wang brands. In aggregate, discontinued operations included $1.2 million and $25.5 million of net sales in the thirteen and thirty-nine week periods ended November 2, 2013, respectively. Discontinued operations included $36.2 million and $98.8 million of net sales for the thirteen and thirty-nine week periods ended October 27, 2012, respectively. | |||||||||
Discontinued operations included earnings before income taxes of $0.3 million and a loss before income taxes of $10.8 million in the thirteen and thirty-nine week periods ended November 2, 2013, respectively. For the thirty-nine weeks ended November 2, 2013, discontinued operations also included $11.5 million of costs associated with the Company’s impairment of net assets/disposition of discontinued operations. For the thirteen and thirty-nine week periods ended October 27, 2012, discontinued operations included an immaterial amount of earnings before income taxes and a loss before income taxes of $11.5 million, respectively. | |||||||||
American Sporting Goods Corporation | |||||||||
On May 14, 2013, Brown Shoe International Corp. (“BSIC”), the sole shareholder of American Sporting Goods Corporation, entered into and simultaneously closed a Stock Purchase Agreement (the “Stock Purchase Agreement”) by and among the Company, BSIC and Galaxy Brand Holdings, Inc. (“the Buyer”), pursuant to which the Buyer acquired all of the outstanding capital stock of American Sporting Goods Corporation from BSIC and the Company agreed to provide certain transition services. In connection with the transaction, American Sporting Goods Corporation sold inventory to a third party unaffiliated with the Buyer and distributed certain assets to BSIC. The aggregate purchase price for the stock of American Sporting Goods Corporation and the provision of such transition services was $74.0 million, subject to working capital adjustments, minus the amount of the pre-closing cash dividend declared by American Sporting Goods Corporation and paid to BSIC, representing proceeds from American Sporting Goods Corporation’s sale of inventory. | |||||||||
The Company purchased American Sporting Goods Corporation, comprised of Avia, Nevados, Ryka, AND 1, and other businesses, on February 17, 2011 and subsequently sold AND 1 during fiscal 2011. The Avia and Nevados businesses were sold under the Stock Purchase Agreement and the Company retained and is operating Ryka and other businesses. In this document, “ASG” refers to the subsidiary disposed on May 14, 2013, including the Avia and Nevados brands and excluding the Ryka brand and other retained businesses. | |||||||||
The Company received $60.3 million in cash and a promissory note of $12.0 million at closing, from the sale of stock, the sale of inventory, and for the provision of transitional services, less working capital adjustments. The promissory note was due November 14, 2013, earned interest at a 3% annual rate, and was secured by a guarantee by ASG and a lien on certain assets of ASG. In accordance with the terms of the promissory note, the Company received a payment of $12.2 million on November 14, 2013, representing the note principal and accrued interest. | |||||||||
As a result of the sale of ASG, the Company recorded an impairment charge in the first quarter of 2013 of $12.6 million ($12.6 million after-tax, $0.30 per diluted share), representing the difference in the fair value less costs to sell as compared to the carrying value of the net assets to be sold. During the second quarter of 2013, the Company recognized a gain upon disposition of the ASG subsidiary of $1.0 million ($1.0 million after tax, $0.02 per diluted share). These charges are reflected in the condensed consolidated statement of earnings as a component of discontinued operations for the thirty-nine weeks ended November 2, 2013. ASG was previously included in the Wholesale Operations segment. | |||||||||
Etienne Aigner | |||||||||
During the second quarter of 2012, the Company terminated the Etienne Aigner license agreement due to a dispute with the licensor. On April 29, 2013, an agreement to resolve the dispute was reached, pursuant to which the Company agreed to pay Etienne Aigner $6.5 million. The financial results of Etienne Aigner and the $6.5 million settlement are reflected as a component of discontinued operations. The results of Etienne Aigner were previously included in the Wholesale Operations segment. | |||||||||
Vera Wang | |||||||||
During the first quarter of 2013, the Company communicated its intention not to renew the Vera Wang license agreement. The financial results of Vera Wang are reflected as a component of discontinued operations. The results of Vera Wang were previously included in the Wholesale Operations segment. | |||||||||
The detail of ASG, Etienne Aigner, and Vera Wang assets and liabilities reported as discontinued operations in the condensed consolidated balance sheet are as follows: | |||||||||
November 2, | October 27, | February 2, | |||||||
($ thousands) | 2013 | 2012 | 2013 | ||||||
Discontinued Assets | |||||||||
Current assets | |||||||||
Receivables, net | $ | 73 | $ | 25,043 | $ | 14,291 | |||
Inventories, net | 75 | 27,153 | 29,587 | ||||||
Prepaid expenses and other current assets | 33 | 4,169 | 3,231 | ||||||
Total current assets | 181 | 56,365 | 47,109 | ||||||
Other assets | – | 530 | 419 | ||||||
Goodwill | – | 25,650 | 25,650 | ||||||
Intangible assets, net | – | 27,508 | 27,275 | ||||||
Property and equipment, net | – | 1,066 | 1,233 | ||||||
Total assets | $ | 181 | $ | 111,119 | $ | 101,686 | |||
Discontinued Liabilities | |||||||||
Current liabilities | |||||||||
Trade accounts payable | $ | 178 | $ | 9,566 | $ | 9,082 | |||
Other accrued expenses | 1,932 | 4,369 | 4,177 | ||||||
Total current liabilities | 2,110 | 13,935 | 13,259 | ||||||
Other liabilities | – | 7,203 | 6,996 | ||||||
Total liabilities | $ | 2,110 | $ | 21,138 | $ | 20,255 | |||
Dispositions
Dispositions | 9 Months Ended | |
Nov. 02, 2013 | ||
Dispositions [Abstract] | ' | |
Dispositions | ' | |
Note 4 | Dispositions | |
As part of its portfolio realignment efforts, the Company entered into an agreement to sell certain of its supply chain and sourcing assets (“Sale Agreement”) on April 30, 2013 for $9.0 million, including $1.5 million in cash and a $7.5 million promissory note, subject to working capital adjustments. The sale closed during the second quarter of 2013. The promissory note requires installments over two years with the first payment of $3.0 million due no later than 45 days from the closing date and the remaining balance payable in eight quarterly payments of $0.6 million, subject to working capital adjustments, plus accrued interest of 5%, compounded monthly, starting no later than three months after the closing date. For the thirteen and thirty-nine week periods ended November 2, 2013, the Company received $0.6 million and $3.6 million, respectively, of installment payments in accordance with the terms of the promissory note. As part of the Sale Agreement, the Company agreed to purchase a minimum of four million pairs of shoes each year for the next two years at market pricing, which can be fulfilled from a defined group of facilities owned by the purchaser. | ||
During the first quarter of 2013, the Company recognized an impairment charge of $4.7 million ($4.7 million after tax, $0.11 per diluted share), which represented the excess net asset value over the estimated fair value of the supply chain and sourcing assets less costs to sell. During the second quarter of 2013, the Company recognized a loss on the sale of these supply chain and sourcing assets of $0.6 million ($0.6 million after tax, $0.01 per diluted share). | ||
Earnings_Loss_Per_Share
Earnings (Loss) Per Share | 9 Months Ended | |||||||||||
Nov. 02, 2013 | ||||||||||||
Earnings (Loss) Per Share [Abstract] | ' | |||||||||||
Earnings (Loss) Per Share | ' | |||||||||||
Note 5 | Earnings (Loss) Per Share | |||||||||||
The Company uses the two-class method to compute basic and diluted earnings (loss) per common share attributable to Brown Shoe Company, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of the Company. The following table sets forth the computation of basic and diluted earnings (loss) per common share attributable to Brown Shoe Company, Inc. shareholders for the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012: | ||||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | |||||||||||
November 2, | October 27, | November 2, | October 27, | |||||||||
($ thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | ||||||||
NUMERATOR | ||||||||||||
Net earnings from continuing operations | $ | 27,051 | $ | 24,253 | $ | 48,031 | $ | 30,088 | ||||
Net loss attributable to noncontrolling interests | 30 | 5 | 174 | 251 | ||||||||
Net earnings allocated to participating securities | -1,097 | -1,210 | -2,098 | -1,505 | ||||||||
Net earnings from continuing operations | 25,984 | 23,048 | 46,107 | 28,834 | ||||||||
Net earnings (loss) from discontinued operations | 233 | 34 | -16,296 | -6,887 | ||||||||
Net (earnings) loss allocated to participating securities | -9 | -2 | 712 | 339 | ||||||||
Net earnings (loss) from discontinued operations | 224 | 32 | -15,584 | -6,548 | ||||||||
Net earnings attributable to Brown Shoe Company, Inc. after allocation of earnings to participating securities | $ | 26,208 | $ | 23,080 | $ | 30,523 | $ | 22,286 | ||||
DENOMINATOR | ||||||||||||
Denominator for basic continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,447 | 40,745 | 41,288 | 40,618 | ||||||||
Dilutive effect of share-based awards for continuing operations and discontinued operations | 319 | 190 | 283 | 103 | ||||||||
Denominator for diluted continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,766 | 40,935 | 41,571 | 40,721 | ||||||||
Basic earnings (loss) per common share: | ||||||||||||
From continuing operations | $ | 0.63 | $ | 0.57 | $ | 1.12 | $ | 0.71 | ||||
From discontinued operations | – | – | -0.38 | -0.16 | ||||||||
Basic earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $ | 0.63 | $ | 0.57 | $ | 0.74 | $ | 0.55 | ||||
Diluted earnings (loss) per common share: | ||||||||||||
From continuing operations | $ | 0.62 | $ | 0.56 | $ | 1.11 | $ | 0.71 | ||||
From discontinued operations | 0.01 | – | -0.38 | -0.16 | ||||||||
Diluted earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $ | 0.63 | $ | 0.56 | $ | 0.73 | $ | 0.55 | ||||
Options to purchase 86,247 and 567,966 shares of common stock for the thirteen weeks and 214,403 and 1,019,565 shares of common stock for the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively, were not included in the denominator for diluted earnings per common share attributable to Brown Shoe Company, Inc. shareholders because the effect would be anti-dilutive. | ||||||||||||
Restructuring_Initiatives
Restructuring Initiatives | 9 Months Ended | ||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||
Restructuring Initiatives [Abstract] | ' | ||||||||||||||||||||
Portfolio Realignment | ' | ||||||||||||||||||||
Note 6 | Restructuring Initiatives | ||||||||||||||||||||
Portfolio Realignment | |||||||||||||||||||||
The Company's portfolio realignment efforts include the sale of ASG; the sale of the AND 1 division; exiting certain women’s specialty and private label brands; exiting the children’s wholesale business; the sale and closure of sourcing and supply chain assets; closing or relocating numerous underperforming or poorly aligned retail stores; the termination of the Etienne Aigner license agreement; the election not to renew the Vera Wang license in accordance with agreement terms, and other infrastructure changes. These portfolio realignment efforts began in 2011 and are substantially complete. | |||||||||||||||||||||
The following is a summary of the Company’s portfolio realignment expense for our continuing and discontinued operations: | |||||||||||||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | ||||||||||||||||||||
($ millions, except per share data) | Pre-tax Expense | After-tax Expense | Loss Per Diluted Share | Pre-tax Expense | After-tax Expense | Loss Per Diluted Share | |||||||||||||||
2-Nov-13 | |||||||||||||||||||||
Continuing Operations | |||||||||||||||||||||
Business exits and cost reductions | $ | – | $ | – | $ | – | $ | 1.2 | $ | 0.8 | $ | 0.02 | |||||||||
Non-cash impairments/dispositions | – | – | – | 4.7 | 4.7 | 0.11 | |||||||||||||||
Total Continuing Operations | – | – | – | 5.9 | 5.5 | 0.13 | |||||||||||||||
Discontinued Operations | |||||||||||||||||||||
Business exits and cost reductions | – | – | – | 13.3 | 6.4 | 0.13 | |||||||||||||||
Non-cash impairments/dispositions | – | – | – | 11.5 | 11.5 | 0.28 | |||||||||||||||
Total Discontinued Operations | – | – | – | 24.8 | 17.9 | 0.41 | |||||||||||||||
Total | $ | – | $ | – | $ | – | $ | 30.7 | $ | 23.4 | $ | 0.54 | |||||||||
27-Oct-12 | |||||||||||||||||||||
Continuing Operations | |||||||||||||||||||||
Business exits and cost reductions | $ | 2.3 | $ | 1.4 | $ | 0.04 | $ | 18.9 | $ | 12.4 | $ | 0.29 | |||||||||
Non-cash impairments/dispositions | – | – | – | – | – | – | |||||||||||||||
Total Continuing Operations | 2.3 | 1.4 | 0.04 | 18.9 | 12.4 | 0.29 | |||||||||||||||
Discontinued Operations | |||||||||||||||||||||
Business exits and cost reductions | 0.3 | 0.2 | – | 8.1 | 5.0 | 0.12 | |||||||||||||||
Non-cash impairments/dispositions | – | – | – | – | – | – | |||||||||||||||
Total Discontinued Operations | 0.3 | 0.2 | – | 8.1 | 5.0 | 0.12 | |||||||||||||||
Total | $ | 2.6 | $ | 1.6 | $ | 0.04 | $ | 27.0 | $ | 17.4 | $ | 0.41 | |||||||||
The business exits and cost reductions of the Company’s continuing operations were recorded within restructuring and other special charges, net and cost of goods sold in the condensed consolidated statements of earnings. The business exits and cost reductions of the Company’s discontinued operations were recorded within earnings (loss) from discontinued operations, net of tax, in the condensed consolidated statements of earnings. The non-cash impairments/dispositions of the Company’s continuing operations were recorded within impairment of assets held for sale in the condensed consolidated statements of earnings. The non-cash impairments/dispositions of the Company’s discontinued operations were recorded within impairment of net assets/disposition of discontinued operations in the condensed consolidated statements of earnings. The non-cash impairments/dispositions are included in Other in the following table. | |||||||||||||||||||||
During the third quarter of 2013, no expenses for portfolio realignment were incurred. Of the $2.3 million of continuing operations costs incurred during the third quarter of 2012, $1.5 million is included in the Wholesale Operations segment, $0.4 million is included in the Famous Footwear segment, $0.3 million is included in the Specialty Retail segment, and $0.1 million is included in the Other segment. | |||||||||||||||||||||
All of the $5.9 million of expenses for portfolio realignment that were recorded in continuing operations during the thirty-nine weeks ended November 2, 2013 were included in the Wholesale Operations segment. Of the $18.9 million incurred during the thirty-nine weeks ended October 27, 2012, $7.7 million is included in the Famous Footwear segment, $6.5 million is included in the Wholesale Operations segment, $3.9 million is included in the Specialty Retail segment, and $0.8 million is included in the Other segment. | |||||||||||||||||||||
The following is a summary of the charges and settlements by category of costs: | |||||||||||||||||||||
Total by Classification | |||||||||||||||||||||
($ millions) | Employee | Markdowns and Royalty Shortfalls | Facility | Other | Total | Continuing Operations | Discontinued Operations | ||||||||||||||
Reserve balance at January 28, 2012 | $ | 5.8 | $ | 1.6 | $ | 1.3 | $ | 1.3 | $ | 10.0 | $ | 10.0 | $ | – | |||||||
Additional charges in 2012 | 6.0 | 3.1 | 11.4 | 9.4 | 29.9 | 21.9 | 8.0 | ||||||||||||||
Amounts settled in 2012 | -10.1 | -4.5 | -9.4 | -10.4 | -34.4 | -26.6 | -7.8 | ||||||||||||||
Reserve balance at February 2, 2013 | $ | 1.7 | $ | 0.2 | $ | 3.3 | $ | 0.3 | $ | 5.5 | $ | 5.3 | $ | 0.2 | |||||||
Additional charges in first quarter 2013 | 0.4 | 3.0 | 0.1 | 25.3 | 28.8 | 5.2 | 23.6 | ||||||||||||||
Amounts settled in first quarter 2013 | -1 | -2.8 | -0.8 | -18.2 | -22.8 | -7 | -15.8 | ||||||||||||||
Reserve balance at May 4, 2013 | $ | 1.1 | $ | 0.4 | $ | 2.6 | $ | 7.4 | $ | 11.5 | $ | 3.5 | $ | 8.0 | |||||||
Additional charges (recoveries) in second quarter 2013 | 2.3 | -0.4 | – | -0.1 | 1.8 | 0.7 | 1.1 | ||||||||||||||
Amounts settled in second quarter 2013 | -1 | 0.3 | -0.6 | -7 | -8.3 | -1.8 | -6.5 | ||||||||||||||
Reserve balance at August 3, 2013 | $ | 2.4 | $ | 0.3 | $ | 2.0 | $ | 0.3 | $ | 5.0 | $ | 2.4 | $ | 2.6 | |||||||
Additional charges in third quarter 2013 | – | – | – | – | – | – | – | ||||||||||||||
Amounts settled in third quarter 2013 | -0.3 | -0.3 | -0.3 | -0.3 | -1.2 | -0.4 | -0.8 | ||||||||||||||
Reserve balance at November 2, 2013 | $ | 2.1 | $ | – | $ | 1.7 | $ | – | $ | 3.8 | $ | 2.0 | $ | 1.8 | |||||||
Integration Related Costs | |||||||||||||||||||||
During the thirty-nine weeks ended October 27, 2012, the Company incurred integration costs related to the acquisition of ASG of $0.7 million ($0.4 million after-tax, or $0.01 per diluted share). These costs were recognized as earnings (loss) from discontinued operations. | |||||||||||||||||||||
Organizational Change | |||||||||||||||||||||
During the thirty-nine weeks ended October 27, 2012, the Company incurred costs of $2.3 million ($1.4 million on an after-tax basis, or $0.03 per diluted share) related to an organizational change at the corporate headquarters. These costs were recognized as restructuring and other special charges, net and included in the Other segment. | |||||||||||||||||||||
Business_Segment_Information
Business Segment Information | 9 Months Ended | ||||||||||||||
Nov. 02, 2013 | |||||||||||||||
Business Segment Information [Abstract] | ' | ||||||||||||||
Business Segment Information | ' | ||||||||||||||
Note 7 | Business Segment Information | ||||||||||||||
Applicable business segment information is as follows for the periods ended November 2, 2013 and October 27, 2012: | |||||||||||||||
Famous | Wholesale | Specialty | |||||||||||||
($ thousands) | Footwear | Operations | Retail | Other | Total | ||||||||||
Thirteen Weeks Ended November 2, 2013 | |||||||||||||||
External sales | $ | 439,605 | $ | 205,269 | $ | 57,914 | $ | – | $ | 702,788 | |||||
Intersegment sales | 543 | 51,343 | – | – | 51,886 | ||||||||||
Operating earnings (loss) | 37,047 | 16,782 | 221 | -9,382 | 44,668 | ||||||||||
Segment assets - continuing operations | 485,217 | 379,249 | 93,747 | 128,517 | 1,086,730 | ||||||||||
Thirteen Weeks Ended October 27, 2012 | |||||||||||||||
External sales | $ | 436,812 | $ | 196,371 | $ | 62,802 | $ | – | $ | 695,985 | |||||
Intersegment sales | 505 | 57,848 | – | – | 58,353 | ||||||||||
Operating earnings (loss) | 35,525 | 15,169 | 1,771 | -11,472 | 40,993 | ||||||||||
Segment assets - continuing operations | 462,904 | 387,720 | 59,805 | 142,556 | 1,052,985 | ||||||||||
Thirty-nine Weeks Ended November 2, 2013 | |||||||||||||||
External sales | $ | 1,180,143 | $ | 567,334 | $ | 165,673 | $ | – | $ | 1,913,150 | |||||
Intersegment sales | 1,753 | 152,276 | – | – | 154,029 | ||||||||||
Operating earnings (loss) | 95,057 | 28,085 | -2,934 | -31,770 | 88,438 | ||||||||||
Thirty-nine Weeks Ended October 27, 2012 | |||||||||||||||
External sales | $ | 1,134,237 | $ | 551,896 | $ | 172,928 | $ | – | $ | 1,859,061 | |||||
Intersegment sales | 1,529 | 159,641 | – | – | 161,170 | ||||||||||
Operating earnings (loss) | 74,365 | 25,833 | -7,551 | -30,441 | 62,206 | ||||||||||
The Other segment includes corporate assets, administrative expenses, and other costs and recoveries, which are not allocated to the operating segments. | |||||||||||||||
Following is a reconciliation of operating earnings to earnings before income taxes from continuing operations: | |||||||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | ||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Operating earnings | $ | 44,668 | $ | 40,993 | $ | 88,438 | $ | 62,206 | |||||||
Interest expense | -5,254 | -5,398 | -16,167 | -17,079 | |||||||||||
Interest income | 132 | 76 | 282 | 236 | |||||||||||
Earnings before income taxes from continuing operations | $ | 39,546 | $ | 35,671 | $ | 72,553 | $ | 45,363 | |||||||
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Goodwill And Intangible Assets [Abstract] | ' | ||||||||
Goodwill And Intangible Assets | ' | ||||||||
Note 8 | Goodwill and Intangible Assets | ||||||||
Goodwill and intangible assets were attributable to the Company's operating segments as follows: | |||||||||
November 2, | October 27, | February 2, | |||||||
($ thousands) | 2013 | 2012 | 2013 | ||||||
Intangible Assets | |||||||||
Famous Footwear | $ | 2,800 | $ | 2,800 | $ | 2,800 | |||
Wholesale Operations | 118,003 | 118,003 | 118,003 | ||||||
Specialty Retail | 200 | 200 | 200 | ||||||
Total intangible assets | 121,003 | 121,003 | 121,003 | ||||||
Accumulated amortization | -59,776 | -53,738 | -55,254 | ||||||
Total intangible assets, net | 61,227 | 67,265 | 65,749 | ||||||
Goodwill | |||||||||
Wholesale Operations | 13,954 | 13,954 | 13,954 | ||||||
Total goodwill | 13,954 | 13,954 | 13,954 | ||||||
Goodwill and intangible assets, net | $ | 75,181 | $ | 81,219 | $ | 79,703 | |||
Intangible assets, primarily owned trademarks, of $21.0 million as of November 2, 2013, October 27, 2012, and February 2, 2013 are not subject to amortization. All remaining intangible assets, primarily owned and licensed trademarks, are subject to amortization and have useful lives ranging from four to 20 years as of November 2, 2013. Amortization expense related to intangible assets was $1.5 million for the thirteen weeks ended November 2, 2013 and October 27, 2012 and $4.5 million and $4.6 million for the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively. | |||||||||
Shareholders_Equity
Shareholders' Equity | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||
Shareholders' Equity | ' | ||||||||||||
Note 9 | Shareholders’ Equity | ||||||||||||
The following tables set forth the changes in Brown Shoe Company, Inc. shareholders’ equity and noncontrolling interests for the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively: | |||||||||||||
($ thousands) | Brown Shoe Company, Inc. Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||
Equity at February 2, 2013 | $ | 425,129 | $ | 772 | $ | 425,901 | |||||||
Net earnings (loss) | 31,909 | -174 | 31,735 | ||||||||||
Other comprehensive (loss) income | -905 | 60 | -845 | ||||||||||
Dividends paid | -9,073 | – | -9,073 | ||||||||||
Issuance of common stock under share-based plans, net | -2,406 | – | -2,406 | ||||||||||
Tax benefit related to share-based plans | 2,581 | – | 2,581 | ||||||||||
Share-based compensation expense | 4,066 | – | 4,066 | ||||||||||
Equity at November 2, 2013 | $ | 451,301 | $ | 658 | $ | 451,959 | |||||||
($ thousands) | Brown Shoe Company, Inc. Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||
Equity at January 28, 2012 | $ | 412,669 | $ | 1,047 | $ | 413,716 | |||||||
Net earnings (loss) | 23,452 | -251 | 23,201 | ||||||||||
Other comprehensive income | 219 | 3 | 222 | ||||||||||
Dividends paid | -9,007 | – | -9,007 | ||||||||||
Issuance of common stock under share-based plans, net | -1,860 | – | -1,860 | ||||||||||
Tax benefit related to share-based plans | 889 | – | 889 | ||||||||||
Share-based compensation expense | 4,776 | – | 4,776 | ||||||||||
Equity at October 27, 2012 | $ | 431,138 | $ | 799 | $ | 431,937 | |||||||
Accumulated Other Comprehensive (Loss) Income | |||||||||||||
The following table sets forth the changes in accumulated other comprehensive (loss) income by component for the thirteen and thirty-nine weeks ended November 2, 2013: | |||||||||||||
Accumulated | Accumulated | Accumulated | Other | ||||||||||
Currency | Derivative | Postretirement | Comprehensive | ||||||||||
($ thousands) | Translation | Transactions | Transactions | (Loss) Income | |||||||||
Balance August 3, 2013 | $ | 5,322 | $ | 317 | $ | -5,666 | $ | -27 | |||||
Other comprehensive (loss) income before reclassifications | -100 | 79 | – | -21 | |||||||||
Amounts reclassified from accumulated other comprehensive (loss) income | – | -111 | 138 | 27 | |||||||||
Other comprehensive (loss) income | -100 | -32 | 138 | 6 | |||||||||
Balance November 2, 2013 | $ | 5,222 | $ | 285 | $ | -5,528 | $ | -21 | |||||
Balance February 2, 2013 | 6,912 | -81 | -5,947 | 884 | |||||||||
Other comprehensive (loss) income before reclassifications | -1,690 | 714 | – | -976 | |||||||||
Amounts reclassified from accumulated other comprehensive (loss) income | – | -348 | 419 | 71 | |||||||||
Other comprehensive (loss) income | -1,690 | 366 | 419 | -905 | |||||||||
Balance November 2, 2013 | $ | 5,222 | $ | 285 | $ | -5,528 | $ | -21 | |||||
The following table sets forth the reclassifications out of accumulated other comprehensive (loss) income and the related tax effect by component for the thirteen and thirty-nine weeks ended November 2, 2013: | |||||||||||||
Thirteen Weeks Ended November 2, 2013 | |||||||||||||
Derivative | Postretirement | Tax | |||||||||||
($ thousands) | Transactions | Transactions | Effect | Total | |||||||||
Net gains from derivative financial instruments | $ | -168 | $ | – | $ | 57 | $ | -111 | |||||
Pension and other postretirement benefits actuarial loss | – | 216 | -81 | 135 | |||||||||
Pension benefits prior service expense | – | 4 | -1 | 3 | |||||||||
$ | -168 | $ | 220 | $ | -25 | $ | 27 | ||||||
Thirty-nine Weeks Ended November 2, 2013 | |||||||||||||
Derivative | Postretirement | Tax | |||||||||||
($ thousands) | Transactions | Transactions | Effect | Total | |||||||||
Net gains from derivative financial instruments | $ | -530 | $ | – | $ | 182 | $ | -348 | |||||
Pension and other postretirement benefits actuarial loss | – | 661 | -249 | 412 | |||||||||
Pension benefits prior service expense | – | 10 | -3 | 7 | |||||||||
$ | -530 | $ | 671 | $ | -70 | $ | 71 | ||||||
Reclassifications related to pension and other postretirement benefits impacted selling and administrative expenses on the condensed consolidated statement of earnings. See Note 12 to the condensed consolidated financial statements for additional information related to derivative financial instruments. | |||||||||||||
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | |
Nov. 02, 2013 | ||
Share-based Compensation [Abstract] | ' | |
Share-Based Compensation | ' | |
Note 10 | Share-Based Compensation | |
The Company recognized share-based compensation expense of $1.1 million and $1.5 million during the thirteen weeks and $4.1 million and $4.8 million during the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively. | ||
The Company issued 54,369 shares of common stock during the thirteen weeks ended November 2, 2013 for restricted stock grants, stock options exercised, and directors’ fees. The Company issued 698,580 shares of common stock during the thirty-nine weeks ended November 2, 2013 for restricted stock grants, stock performance awards, stock options exercised, and directors’ fees. During the thirteen and thirty-nine weeks ended November 2, 2013, the Company cancelled restricted stock awards of 65,750 and 150,250 shares, respectively, as a result of forfeitures. | ||
During the third quarter of 2013, the Company granted 12,300 restricted shares to certain employees with a weighted-average grant date fair value of $22.90. The restricted shares vest in four years and share-based compensation expense will be recognized on a straight-line basis over the four-year period. | ||
The Company also granted 1,023 restricted stock units for dividend equivalents on previously granted restricted stock units to non-employee directors with a weighted-average grant date fair value of $23.57 during the third quarter of 2013. All restricted stock units granted during the third quarter of 2013 vested immediately as of the payment date for the dividend. | ||
Retirement_And_Other_Benefit_P
Retirement And Other Benefit Plans | 9 Months Ended | |||||||||
Nov. 02, 2013 | ||||||||||
Retirement And Other Benefit Plans [Abstract] | ' | |||||||||
Retirement And Other Benefit Plans | ' | |||||||||
Note 11 | Retirement and Other Benefit Plans | |||||||||
The following tables set forth the components of net periodic benefit (income) cost for the Company, including domestic and Canadian plans: | ||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | |||||||||
November 2, | October 27, | November 2, | October 27, | |||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | ||||||
Service cost | $ | 2,583 | $ | 2,845 | $ | – | $ | – | ||
Interest cost | 3,305 | 3,182 | 35 | 36 | ||||||
Expected return on assets | -6,200 | -6,266 | – | – | ||||||
Amortization of: | ||||||||||
Actuarial loss (gain) | 238 | 41 | -20 | -23 | ||||||
Prior service expense | 4 | 4 | – | – | ||||||
Net transition asset | – | -11 | – | – | ||||||
Total net periodic benefit (income) cost | $ | -70 | $ | -205 | $ | 15 | $ | 13 | ||
Pension Benefits | Other Postretirement Benefits | |||||||||
Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||
November 2, | October 27, | November 2, | October 27, | |||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | ||||||
Service cost | $ | 8,057 | $ | 8,675 | $ | – | $ | – | ||
Interest cost | 9,940 | 9,546 | 105 | 112 | ||||||
Expected return on assets | -18,576 | -18,806 | – | – | ||||||
Amortization of: | ||||||||||
Actuarial loss (gain) | 723 | 166 | -60 | -59 | ||||||
Prior service expense | 10 | 8 | – | – | ||||||
Net transition asset | – | -33 | – | – | ||||||
Total net periodic benefit cost (income) | $ | 154 | $ | -444 | $ | 45 | $ | 53 | ||
Risk_Management_And_Derivative
Risk Management And Derivatives | 9 Months Ended | |||||||||
Nov. 02, 2013 | ||||||||||
Risk Management And Derivatives [Abstract] | ' | |||||||||
Risk Management And Derivatives | ' | |||||||||
Note 12 | Risk Management and Derivatives | |||||||||
In the normal course of business, the Company’s financial results are impacted by currency rate movements in foreign currency denominated assets, liabilities, and cash flows as it makes a portion of its purchases and sales in local currencies. The Company has established policies and business practices that are intended to mitigate a portion of the effect of these exposures. The Company uses derivative financial instruments, primarily forward contracts, to manage its currency exposures. These derivative instruments are viewed as risk management tools and are not used for trading or speculative purposes. Derivatives entered into by the Company are designated as cash flow hedges of forecasted foreign currency transactions. | ||||||||||
Derivative financial instruments expose the Company to credit and market risk. The market risk associated with these instruments resulting from currency exchange movements is expected to offset the market risk of the underlying transactions being hedged. The Company does not believe there is a significant risk of loss in the event of non-performance by the counterparties associated with these instruments because these transactions are executed with major financial institutions and have varying maturities through October 2014. Credit risk is managed through the continuous monitoring of exposures to such counterparties. | ||||||||||
The Company principally uses foreign currency forward contracts as cash flow hedges to offset a portion of the effects of exchange rate fluctuations. The Company’s cash flow exposures include anticipated foreign currency transactions, such as foreign currency denominated sales, costs, expenses, intercompany charges, as well as collections and payments. The Company performs a quarterly assessment of the effectiveness of the hedge relationship and measures and recognizes any hedge ineffectiveness in the condensed consolidated statement of earnings. Hedge ineffectiveness is evaluated using the hypothetical derivative method, and the ineffective portion of the hedge is reported in the Company’s condensed consolidated statement of earnings. The amount of hedge ineffectiveness for the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012 was not material. | ||||||||||
The Company’s hedging strategy uses forward contracts as cash flow hedging instruments, which are recorded in the Company’s condensed consolidated balance sheet at fair value. The effective portion of gains and losses resulting from changes in the fair value of these hedge instruments are deferred in accumulated other comprehensive (loss) income and reclassified to earnings in the period that the hedged transaction is recognized in earnings. | ||||||||||
As of November 2, 2013, October 27, 2012, and February 2, 2013, the Company had forward contracts maturing at various dates through October 2014, November 2013, and January 2014, respectively. The contract amount represents the net amount of all purchase and sale contracts of a foreign currency. | ||||||||||
Contract Amount | ||||||||||
(U.S. $ equivalent in thousands) | 2-Nov-13 | 27-Oct-12 | 2-Feb-13 | |||||||
Financial Instruments | ||||||||||
U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) | $ | 18,024 | $ | 19,427 | $ | 18,442 | ||||
Chinese yuan | 14,860 | 22,193 | 15,544 | |||||||
Euro | 8,729 | 4,784 | 3,459 | |||||||
Japanese yen | 1,657 | 1,563 | 1,665 | |||||||
New Taiwanese dollars | 633 | 935 | 734 | |||||||
Great Britain pounds sterling | – | 211 | 63 | |||||||
Other currencies | 739 | 853 | 729 | |||||||
Total financial instruments | $ | 44,642 | $ | 49,966 | $ | 40,636 | ||||
The classification and fair values of derivative instruments designated as hedging instruments included within the condensed consolidated balance sheet as of November 2, 2013, October 27, 2012, and February 2, 2013 are as follows: | ||||||||||
Asset Derivatives | Liability Derivatives | |||||||||
($ thousands) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Foreign exchange forward contracts: | ||||||||||
2-Nov-13 | Prepaid expenses and other current assets | $ | 417 | Other accrued expenses | $ | 184 | ||||
27-Oct-12 | Prepaid expenses and other current assets | 189 | Other accrued expenses | 438 | ||||||
2-Feb-13 | Prepaid expenses and other current assets | 380 | Other accrued expenses | 373 | ||||||
For the thirteen weeks ended November 2, 2013 and October 27, 2012, the effect of derivative instruments in cash flow hedging relationships on the condensed consolidated statements of earnings was as follows: | ||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | |||||||||
($ thousands) | 2-Nov-13 | 27-Oct-12 | ||||||||
Foreign exchange forward contracts: | Gain (Loss) Recognized in OCI on Derivatives | Gain Reclassified from Accumulated OCI into Earnings | Gain Recognized in OCI on Derivatives | (Loss) Gain Reclassified from Accumulated OCI into Earnings | ||||||
Income Statement Classification Gains (Losses) - Realized | ||||||||||
Net sales | $ | 161 | $ | 59 | $ | 16 | $ | -26 | ||
Cost of goods sold | -163 | 24 | 204 | -187 | ||||||
Selling and administrative expenses | 145 | 85 | 423 | 11 | ||||||
Interest expense | -3 | – | – | – | ||||||
Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||
($ in thousands) | 2-Nov-13 | 27-Oct-12 | ||||||||
Foreign exchange forward contracts: | Gain Recognized in OCI on Derivatives | Gain Reclassified from Accumulated OCI into Earnings | Gain (Loss) Recognized in OCI on Derivatives | (Loss) Gain Reclassified from Accumulated OCI into Earnings | ||||||
Income Statement Classification Gains (Losses) - Realized | ||||||||||
Net sales | $ | 278 | $ | 207 | $ | 37 | $ | -12 | ||
Cost of goods sold | 382 | 51 | -672 | -265 | ||||||
Selling and administrative expenses | 354 | 272 | -49 | 40 | ||||||
Interest expense | 8 | – | -7 | – | ||||||
All gains and losses currently included within accumulated other comprehensive (loss) income associated with the Company’s foreign exchange forward contracts are expected to be reclassified into net earnings within the next 12 months. Additional information related to the Company’s derivative financial instruments are disclosed within Note 13 to the condensed consolidated financial statements. | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
Note 13 | Fair Value Measurements | ||||||||||||
Fair Value Hierarchy | |||||||||||||
FASB guidance on fair value measurements and disclosures specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (“observable inputs”) or reflect the Company’s own assumptions of market participant valuation (“unobservable inputs”). In accordance with the fair value guidance, the hierarchy is broken down into three levels based on the reliability of the inputs as follows: | |||||||||||||
• | Level 1 – Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; | ||||||||||||
• | Level 2 – Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; | ||||||||||||
• | Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. | ||||||||||||
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. Classification of the financial or non-financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. | |||||||||||||
Measurement of Fair Value | |||||||||||||
The Company measures fair value as an exit price, the price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date, using the procedures described below for all financial and non-financial assets and liabilities measured at fair value. | |||||||||||||
Money Market Funds | |||||||||||||
The Company has cash equivalents consisting of short-term money market funds backed by U.S. Treasury securities. The primary objective of these investing activities is to preserve the Company’s capital for the purpose of funding operations. The Company does not enter into money market funds for trading or speculative purposes. The fair value is based on unadjusted quoted market prices for the funds in active markets with sufficient volume and frequency (Level 1). | |||||||||||||
Deferred Compensation Plan Assets and Liabilities | |||||||||||||
The Company maintains a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for the benefit of certain management employees. The investment funds offered to the participant generally correspond to the funds offered in the Company’s 401(k) plan, and the account balance fluctuates with the investment returns on those funds. The Deferred Compensation Plan permits the deferral of up to 50% of base salary and 100% of compensation received under the Company’s annual incentive plan. The deferrals are held in a separate trust, which has been established by the Company to administer the Deferred Compensation Plan. The assets of the trust are subject to the claims of the Company’s creditors in the event that the Company becomes insolvent. Consequently, the trust qualifies as a grantor trust for income tax purposes (i.e., a “Rabbi Trust”). The liabilities of the Deferred Compensation Plan are presented in other accrued expenses and the assets held by the trust are classified as trading securities within prepaid expenses and other current assets in the accompanying condensed consolidated balance sheets. Changes in deferred compensation are charged to selling and administrative expenses. The fair value is based on unadjusted quoted market prices for the funds in active markets with sufficient volume and frequency (Level 1). | |||||||||||||
Deferred Compensation Plan for Non-Employee Directors | |||||||||||||
Non-employee directors are eligible to participate in a deferred compensation plan with deferred amounts valued as if invested in the Company’s common stock through the use of phantom stock units (“PSUs”). Under the plan, each participating director’s account is credited with the number of PSUs that is equal to the number of shares of the Company’s common stock which the participant could purchase or receive with the amount of the deferred compensation, based upon the average of the high and low prices of the Company’s common stock on the last trading day of the fiscal quarter when the cash compensation was earned. Dividend equivalents are paid on PSUs at the same rate as dividends on the Company’s common stock and are re-invested in additional PSUs at the next fiscal quarter-end. When the participating director terminates his or her service as a director, the Company will pay the cash value of the deferred compensation to the director (or to the designated beneficiary in the event of death) in annual installments over a five-year or ten-year period, or in a lump sum, at the director’s election. The cash amount payable will be based on the number of PSUs credited to the participating director’s account, valued on the basis of the fair market value at fiscal quarter-end on or following termination of the director’s service and calculated based on the mean of the high and low price of an equivalent number of shares of the Company’s common stock on the last trading day of the fiscal quarter. The plan also provides for earlier payment of a participating director’s account if the board determines that the participant has a demonstrated financial hardship. The accounts of participants continue to earn dividend equivalents on the account balance. The liabilities of the plan are based on the fair value of the outstanding PSUs and are presented in other liabilities in the accompanying condensed consolidated balance sheets. Gains and losses resulting from changes in the fair value of the PSUs are reported in selling and administrative expenses in the Company’s condensed consolidated statement of earnings. The fair value of the liabilities is based on an unadjusted quoted market price for the Company’s common stock in an active market with sufficient volume and frequency (Level 1). | |||||||||||||
Derivative Financial Instruments | |||||||||||||
The Company uses derivative financial instruments, primarily foreign exchange contracts, to reduce its exposure to market risks from changes in foreign exchange rates. These foreign exchange contracts are measured at fair value using quoted forward foreign exchange prices from counterparties corroborated by market-based pricing (Level 2). Additional information related to the Company’s derivative financial instruments are disclosed within Note 12 to the condensed consolidated financial statements. | |||||||||||||
The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at November 2, 2013, October 27, 2012, and February 2, 2013. The Company did not have any transfers between Level 1 and Level 2 during 2012 or the thirty-nine weeks ended November 2, 2013. | |||||||||||||
Fair Value Measurements | |||||||||||||
($ thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||
Asset (Liability) | |||||||||||||
As of November 2, 2013 | |||||||||||||
Cash equivalents – money market funds | $ | 4,472 | $ | 4,472 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 2,081 | 2,081 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -2,081 | -2,081 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,565 | -1,565 | – | – | |||||||||
Derivative financial instruments, net | 233 | – | 233 | – | |||||||||
As of October 27, 2012 | |||||||||||||
Cash equivalents – money market funds | $ | 3,092 | $ | 3,092 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 1,272 | 1,272 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -1,272 | -1,272 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,022 | -1,022 | – | – | |||||||||
Derivative financial instruments, net | -249 | – | -249 | – | |||||||||
As of February 2, 2013: | |||||||||||||
Cash equivalents – money market funds | $ | 27,223 | $ | 27,223 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 1,411 | 1,411 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -1,411 | -1,411 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,139 | -1,139 | – | – | |||||||||
Derivative financial instruments, net | 7 | – | 7 | – | |||||||||
Impairment Charges | |||||||||||||
The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors the Company considers important that could trigger an impairment review include underperformance relative to expected historical or projected future operating results, a significant change in the manner of the use of the asset or a negative industry or economic trend. When the Company determines that the carrying value of long-lived assets may not be recoverable based upon the existence of one or more of the aforementioned factors, impairment is measured based on a projected discounted cash flow method. Certain factors, such as estimated store sales and expenses, used for this nonrecurring fair value measurement are considered Level 3 inputs as defined by FASB ASC 820, Fair Value Measurements and Disclosures. Long-lived assets held and used with a carrying amount of $84.6 million were assessed for indicators of impairment and written down to their fair value, resulting in impairment charges of $0.1 million for the thirteen weeks ended November 2, 2013. The $0.1 million impairment charge was recorded in the Specialty Retail segment and is reflected in selling and administrative expenses. An impairment charge of $0.8 million was recorded for the thirty-nine weeks ended November 2, 2013, of which $0.4 million related to the Famous Footwear segment and $0.4 million related to the Specialty Retail segment. | |||||||||||||
During the first quarter of 2013, the Company recognized an impairment charge of $4.7 million ($4.7 million after tax, $0.11 per diluted share) related to certain supply chain and sourcing assets, which represented the excess net asset value over the estimated fair value of the assets less costs to sell. The fair value of net assets was estimated based on the anticipated sales proceeds. This is considered a Level 2 input as the assets were not sold on an active market. The impairment charge was recorded as impairment of assets held for sale in the condensed consolidated statement of earnings and was included in the Wholesale Operations segment. These assets were sold in the second quarter of 2013, and the Company recognized an additional loss on sale of $0.6 million. See Note 4 and Note 6 to the condensed consolidated financial statements for additional information. | |||||||||||||
During the second quarter of 2013, the Company sold ASG. The assets of ASG were determined to be held for sale at May 4, 2013, and an impairment charge of $12.6 million was recorded in the first quarter of 2013 within the discontinued operations section of the condensed consolidated statement of earnings. The Company recognized a gain on disposition of $1.0 million in the second quarter of 2013. ASG was previously included within the Wholesale Operations segment. The fair value of assets was estimated based on the anticipated sales proceeds less costs to sell. This is considered a Level 2 input as the assets were not sold on an active market. See Note 3 and Note 6 to the condensed consolidated financial statements for additional information. | |||||||||||||
Fair Value of the Company’s Other Financial Instruments | |||||||||||||
The fair values of cash and cash equivalents (excluding money market funds discussed above), receivables, trade accounts payable, and borrowings under the revolving credit agreement approximate their carrying values due to the short-term nature of these instruments. | |||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Feb-13 | |||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||
($ thousands) | Amount | Value | Amount | Value | Amount | Value | |||||||
Senior Notes | $ | 198,963 | $ | 210,500 | $ | 198,773 | $ | 204,000 | $ | 198,823 | $ | 208,000 | |
The fair value of the Company’s Senior Notes was based upon quoted prices in an inactive market as of the end of the respective periods (Level 2). | |||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended | |
Nov. 02, 2013 | ||
Income Taxes [Abstract] | ' | |
Income Taxes | ' | |
Note 14 | Income Taxes | |
The Company’s effective tax rate can vary considerably from period to period, depending on a number of factors. The Company’s consolidated effective tax rates from continuing operations were 31.6% and 33.8% for the thirteen and thirty-nine weeks ended November 2, 2013, respectively, remaining relatively consistent with the effective tax rates of 32.0% and 33.7% for the thirteen and thirty-nine weeks ended October 27, 2012, respectively. | ||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | |
Nov. 02, 2013 | ||
Related Party Transactions [Abstract] | ' | |
Related Party Transactions | ' | |
Note 15 | Related Party Transactions | |
C. banner International Holdings Limited | ||
The Company has a joint venture agreement with a subsidiary of C. banner International Holdings Limited (“CBI”, formerly known as Hongguo International Holdings Limited) to market Naturalizer footwear in China. The Company is a 51% owner of the joint venture (“B&H Footwear”), with CBI owning the other 49%. B&H Footwear sells Naturalizer footwear to a retail affiliate of CBI on a wholesale basis, which in turn sells the Naturalizer products through department store shops and free-standing stores in China. During the thirteen and thirty-nine weeks ended November 2, 2013, the Company, through its consolidated subsidiary, B&H Footwear, sold $1.9 million and $4.1 million, respectively, of Naturalizer footwear on a wholesale basis to CBI, with $2.4 million and $5.0 million in corresponding sales during the thirteen and thirty-nine weeks ended October 27, 2012, respectively. | ||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended | |
Nov. 02, 2013 | ||
Commitments And Contingencies [Abstract] | ' | |
Commitments And Contingencies | ' | |
Note 16 | Commitments and Contingencies | |
Environmental Remediation | ||
Prior operations included numerous manufacturing and other facilities for which the Company may have responsibility under various environmental laws for the remediation of conditions that may be identified in the future. The Company is involved in environmental remediation and ongoing compliance activities at several sites and has been notified that it is or may be a potentially responsible party at several other sites. | ||
Redfield | ||
The Company is remediating, under the oversight of Colorado authorities, the groundwater and indoor air at its owned facility in Colorado (the “Redfield site” or, when referring to remediation activities at or under the facility, the “on-site remediation”) and residential neighborhoods adjacent to and near the property (the “off-site remediation”) that have been affected by solvents previously used at the facility. The on-site remediation calls for the operation of a pump and treat system (which prevents migration of contaminated groundwater off the property) as the final remedy for the site, subject to monitoring and periodic review of the on-site conditions and other remedial technologies that may be developed in the future. Off-site groundwater concentrations have been reducing over time since installation of the pump and treat system in 2000 and injection of clean water beginning in 2003. However, localized areas of contaminated bedrock just beyond the property line continue to impact off-site groundwater. The modified workplan for addressing this condition includes converting the off-site bioremediation system into a monitoring well network and employing different remediation methods in these recalcitrant areas. In accordance with the workplan, a pilot test was conducted of certain groundwater remediation methods and the results of that test were used to develop more detailed plans for remedial activities in the off-site areas, which were approved by the authorities and are being implemented in a phased manner. The results of groundwater monitoring are being used to evaluate the effectiveness of these activities. The liability for the on-site remediation was discounted at 4.8%. On an undiscounted basis, the on-site remediation liability would be $15.9 million as of November 2, 2013. The Company expects to spend approximately $0.2 million in each of the next five years and $14.9 million in the aggregate thereafter related to the on-site remediation. | ||
The cumulative expenditures for both on-site and off-site remediation through November 2, 2013 were $27.0 million. The Company has recovered a portion of these expenditures from insurers and other third parties. The reserve for the anticipated future remediation activities at November 2, 2013 is $8.4 million, of which $7.6 million is recorded within other liabilities and $0.8 million is recorded within other accrued expenses. Of the total $8.4 million reserve, $4.8 million is for on-site remediation and $3.6 million is for off-site remediation. | ||
Other | ||
The Company has completed its remediation efforts at its closed New York tannery and two associated landfills. In 1995, state environmental authorities reclassified the status of these sites as being properly closed and requiring only continued maintenance and monitoring through 2024. The Company has an accrued liability of $1.5 million at November 2, 2013 related to these sites, which has been discounted at 6.4%. On an undiscounted basis, this liability would be $2.0 million. The Company expects to spend approximately $0.2 million in each of the next five years and $1.0 million in the aggregate thereafter related to these sites. In addition, various federal and state authorities have identified the Company as a potentially responsible party for remediation at certain other sites. However, the Company does not currently believe that its liability for such sites, if any, would be material. | ||
Based on information currently available, the Company has an accrued liability of $9.8 million as of November 2, 2013 to complete the cleanup, maintenance and monitoring at all sites. Of the $9.8 million liability, $8.8 million is recorded in other liabilities and $1.0 million is recorded in other accrued expenses. The Company continues to evaluate its estimated costs in conjunction with its environmental consultants and records its best estimate of such liabilities. However, future actions and the associated costs are subject to oversight and approval of various governmental authorities. Accordingly, the ultimate costs may vary, and it is possible costs may exceed the recorded amounts. | ||
Litigation | ||
The Company is involved in legal proceedings and litigation arising in the ordinary course of business. In the opinion of management, the outcome of such ordinary course of business proceedings and litigation currently pending is not expected to have a material adverse effect on the Company’s results of operations or financial position. Legal costs associated with litigation are generally expensed as incurred. | ||
Financial_Information_For_The_
Financial Information For The Company And Its Subsidiaries | 9 Months Ended | ||||||||||||||
Nov. 02, 2013 | |||||||||||||||
Financial Information For The Company And Its Subsidiaries [Abstract] | ' | ||||||||||||||
Financial Information For The Company And Its Subsidiaries | ' | ||||||||||||||
Note 17 | Financial Information for the Company and its Subsidiaries | ||||||||||||||
Brown Shoe Company, Inc. issued senior notes, which are fully and unconditionally and jointly and severally guaranteed by all of its existing and future subsidiaries that are guarantors under its existing agreement. The following table presents the consolidating financial information for each of Brown Shoe Company, Inc. (“Parent”), the Guarantors and subsidiaries of the Parent that are not Guarantors (the “Non-Guarantors”), together with consolidating eliminations, as of and for the periods indicated. The Guarantors are 100% owned by the Parent. On May 14, 2013, during the second quarter of 2013, ASG was sold and ceased to be a borrower under the Credit Agreement. ASG is included as a “Guarantor” in the financial statements through the sale date. The proceeds from the sale were utilized to pay down the Company’s revolving credit facility. See Note 3 to the condensed consolidated financial statements for further information on the sale of ASG. | |||||||||||||||
The consolidating financial statements have been prepared using the equity method of accounting in accordance with the requirements for presentation of such information. Management believes that the information, presented in lieu of complete financial statements for each of the Guarantors, provides meaningful information to allow investors to determine the nature of the assets held by, and operations and cash flows of, each of the consolidated groups. | |||||||||||||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 29,722 | $ | 12,684 | $ | – | $ | 42,406 | |||||
Receivables, net | 93,097 | 1,275 | 18,119 | – | 112,491 | ||||||||||
Inventories, net | 98,548 | 439,807 | 6,234 | – | 544,589 | ||||||||||
Prepaid expenses and other current assets | 37,418 | 11,423 | 3,393 | – | 52,234 | ||||||||||
Current assets – discontinued operations | 158 | – | 23 | – | 181 | ||||||||||
Total current assets | 229,221 | 482,227 | 40,453 | – | 751,901 | ||||||||||
Other assets | 95,221 | 15,812 | 614 | – | 111,647 | ||||||||||
Goodwill and intangible assets, net | 56,369 | 18,812 | – | – | 75,181 | ||||||||||
Property and equipment, net | 26,908 | 118,976 | 2,298 | – | 148,182 | ||||||||||
Investment in subsidiaries | 851,906 | 152,992 | – | -1,004,898 | – | ||||||||||
Intercompany receivable | 431,576 | 483,654 | 233,841 | -1,149,071 | – | ||||||||||
Total assets | $ | 1,691,201 | $ | 1,272,473 | $ | 277,206 | $ | -2,153,969 | $ | 1,086,911 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Trade accounts payable | $ | 44,889 | $ | 136,669 | $ | 19,148 | $ | – | $ | 200,706 | |||||
Other accrued expenses | 58,289 | 83,483 | 9,370 | – | 151,142 | ||||||||||
Current liabilities – discontinued operations | 2,065 | – | 45 | – | 2,110 | ||||||||||
Total current liabilities | 105,243 | 220,152 | 28,563 | – | 353,958 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,963 | – | – | – | 198,963 | ||||||||||
Other liabilities | 29,395 | 51,192 | 1,444 | – | 82,031 | ||||||||||
Intercompany payable | 906,299 | 149,223 | 93,549 | -1,149,071 | – | ||||||||||
Total other liabilities | 1,134,657 | 200,415 | 94,993 | -1,149,071 | 280,994 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 451,301 | 851,906 | 152,992 | -1,004,898 | 451,301 | ||||||||||
Noncontrolling interests | – | – | 658 | – | 658 | ||||||||||
Total equity | 451,301 | 851,906 | 153,650 | -1,004,898 | 451,959 | ||||||||||
Total liabilities and equity | $ | 1,691,201 | $ | 1,272,473 | $ | 277,206 | $ | -2,153,969 | $ | 1,086,911 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTEEN WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 213,028 | $ | 498,383 | $ | 36,753 | $ | -45,376 | $ | 702,788 | |||||
Cost of goods sold | 157,500 | 282,617 | 29,807 | -45,376 | 424,548 | ||||||||||
Gross profit | 55,528 | 215,766 | 6,946 | – | 278,240 | ||||||||||
Selling and administrative expenses | 53,327 | 178,810 | 1,435 | – | 233,572 | ||||||||||
Equity in (earnings) loss of subsidiaries | -31,516 | 2,728 | – | 28,788 | – | ||||||||||
Operating earnings (loss) | 33,717 | 34,228 | 5,511 | -28,788 | 44,668 | ||||||||||
Interest expense | -5,254 | – | – | – | -5,254 | ||||||||||
Interest income | 4 | 69 | 59 | – | 132 | ||||||||||
Intercompany interest income (expense) | 3,558 | -3,693 | 135 | – | – | ||||||||||
Intercompany dividend | – | 7,778 | -7,778 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 32,025 | 38,382 | -2,073 | -28,788 | 39,546 | ||||||||||
Income tax provision | -5,011 | -6,822 | -662 | – | -12,495 | ||||||||||
Net earnings (loss) from continuing operations | 27,014 | 31,560 | -2,735 | -28,788 | 27,051 | ||||||||||
Discontinued operations: | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax | 300 | -44 | -23 | – | 233 | ||||||||||
Net earnings (loss) from discontinued operations | 300 | -44 | -23 | – | 233 | ||||||||||
Net earnings (loss) | 27,314 | 31,516 | -2,758 | -28,788 | 27,284 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -30 | – | -30 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 27,314 | $ | 31,516 | $ | -2,728 | $ | -28,788 | $ | 27,314 | |||||
Comprehensive income (loss) | $ | 27,320 | $ | 31,313 | $ | -2,758 | $ | -28,585 | $ | 27,290 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | -25 | – | -25 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 27,320 | $ | 31,313 | $ | -2,733 | $ | -28,585 | $ | 27,315 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 551,962 | $ | 1,361,742 | $ | 136,825 | $ | -137,379 | $ | 1,913,150 | |||||
Cost of goods sold | 412,736 | 754,229 | 110,682 | -137,379 | 1,140,268 | ||||||||||
Gross profit | 139,226 | 607,513 | 26,143 | – | 772,882 | ||||||||||
Selling and administrative expenses | 169,097 | 504,351 | 5,074 | – | 678,522 | ||||||||||
Restructuring and other special charges, net | 686 | 576 | – | – | 1,262 | ||||||||||
Impairment of assets held for sale | – | – | 4,660 | – | 4,660 | ||||||||||
Equity in (earnings) loss of subsidiaries | -70,990 | 3,789 | – | 67,201 | – | ||||||||||
Operating earnings (loss) | 40,433 | 98,797 | 16,409 | -67,201 | 88,438 | ||||||||||
Interest expense | -16,076 | -91 | – | – | -16,167 | ||||||||||
Interest income | 17 | 201 | 64 | – | 282 | ||||||||||
Intercompany interest income (expense) | 10,487 | -10,879 | 392 | – | – | ||||||||||
Intercompany dividend | – | 7,778 | -7,778 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 34,861 | 95,806 | 9,087 | -67,201 | 72,553 | ||||||||||
Income tax benefit (provision) | 2,630 | -26,995 | -157 | – | -24,522 | ||||||||||
Net earnings (loss) from continuing operations | 37,491 | 68,811 | 8,930 | -67,201 | 48,031 | ||||||||||
Discontinued operations: | |||||||||||||||
(Loss) earnings from discontinued operations, net of tax | -5,582 | 1,137 | -339 | – | -4,784 | ||||||||||
Impairment of net assets/disposition of discontinued operations | – | 1,042 | -12,554 | – | -11,512 | ||||||||||
Net (loss) earnings from discontinued operations | -5,582 | 2,179 | -12,893 | – | -16,296 | ||||||||||
Net earnings (loss) | $ | 31,909 | $ | 70,990 | $ | -3,963 | $ | -67,201 | $ | 31,735 | |||||
Net loss attributable to noncontrolling interests | – | – | -174 | – | -174 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 31,909 | $ | 70,990 | $ | -3,789 | $ | -67,201 | $ | 31,909 | |||||
Comprehensive income (loss) | $ | 31,005 | $ | 69,771 | $ | -3,964 | $ | -65,982 | $ | 30,830 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | -114 | – | -114 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 31,005 | $ | 69,771 | $ | -3,850 | $ | -65,982 | $ | 30,944 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net cash provided by (used for) operating activities | $ | 27,271 | $ | 60,573 | $ | -25,859 | $ | – | $ | 61,985 | |||||
Investing activities | |||||||||||||||
Purchases of property and equipment | -3,389 | -33,737 | -762 | – | -37,888 | ||||||||||
Capitalized software | -3,591 | -117 | -7 | – | -3,715 | ||||||||||
Intercompany investing | -1,024 | 1,024 | – | – | – | ||||||||||
Proceeds from sale of subsidiaries, net of cash balance | – | 69,347 | – | – | 69,347 | ||||||||||
Net cash (used for) provided by investing activities | -8,004 | 36,517 | -769 | – | 27,744 | ||||||||||
Financing activities | |||||||||||||||
Borrowings under revolving credit agreement | 966,000 | – | – | – | 966,000 | ||||||||||
Repayments under revolving credit agreement | -1,071,000 | – | – | – | -1,071,000 | ||||||||||
Dividends paid | -9,073 | – | – | – | -9,073 | ||||||||||
Issuance of common stock under share-based plans, net | -2,406 | – | – | – | -2,406 | ||||||||||
Tax benefit related to share-based plans | 2,581 | – | – | – | 2,581 | ||||||||||
Intercompany financing | 94,631 | -97,780 | 3,149 | – | – | ||||||||||
Net cash (used for) provided by financing activities | -19,267 | -97,780 | 3,149 | – | -113,898 | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | – | -1,648 | – | – | -1,648 | ||||||||||
Decrease in cash and cash equivalents | – | -2,338 | -23,479 | – | -25,817 | ||||||||||
Cash and cash equivalents at beginning of period | – | 32,060 | 36,163 | – | 68,223 | ||||||||||
Cash and cash equivalents at end of period | $ | – | $ | 29,722 | $ | 12,684 | $ | – | $ | 42,406 | |||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF FEBRUARY 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 32,060 | $ | 36,163 | $ | – | $ | 68,223 | |||||
Receivables, net | 67,571 | 6,593 | 37,228 | – | 111,392 | ||||||||||
Inventories, net | 92,683 | 394,468 | 16,537 | – | 503,688 | ||||||||||
Prepaid expenses and other current assets | 14,523 | 26,524 | 969 | – | 42,016 | ||||||||||
Current assets – discontinued operations | 5,447 | 41,553 | 109 | – | 47,109 | ||||||||||
Total current assets | 180,224 | 501,198 | 91,006 | – | 772,428 | ||||||||||
Other assets | 99,527 | 19,320 | 848 | – | 119,695 | ||||||||||
Goodwill and intangible assets, net | 37,270 | 19,901 | 22,532 | – | 79,703 | ||||||||||
Noncurrent assets – discontinued operations | 1,145 | 3,980 | 52,925 | -3,473 | 54,577 | ||||||||||
Property and equipment, net | 27,931 | 108,224 | 8,701 | – | 144,856 | ||||||||||
Investment in subsidiaries | 765,729 | 91,136 | 113,033 | -969,898 | – | ||||||||||
Intercompany receivable | 341,221 | 527,863 | 183,372 | -1,052,456 | – | ||||||||||
Total assets | $ | 1,453,047 | $ | 1,271,622 | $ | 472,417 | $ | -2,025,827 | $ | 1,171,259 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Borrowings under revolving credit agreement | $ | 105,000 | $ | – | $ | – | $ | – | $ | 105,000 | |||||
Trade accounts payable | 53,350 | 118,096 | 42,214 | – | 213,660 | ||||||||||
Other accrued expenses | 51,751 | 78,293 | 7,146 | – | 137,190 | ||||||||||
Current liabilities – discontinued operations | 3,754 | 9,396 | 109 | – | 13,259 | ||||||||||
Total current liabilities | 213,855 | 205,785 | 49,469 | – | 469,109 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,823 | – | – | – | 198,823 | ||||||||||
Other liabilities | 17,042 | 48,986 | 4,402 | – | 70,430 | ||||||||||
Non current liabilities – discontinued operations | – | – | 10,469 | -3,473 | 6,996 | ||||||||||
Intercompany payable | 598,198 | 138,089 | 316,169 | -1,052,456 | – | ||||||||||
Total other liabilities | 814,063 | 187,075 | 331,040 | -1,055,929 | 276,249 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 425,129 | 878,762 | 91,136 | -969,898 | 425,129 | ||||||||||
Noncontrolling interests | – | – | 772 | – | 772 | ||||||||||
Total equity | 425,129 | 878,762 | 91,908 | -969,898 | 425,901 | ||||||||||
Total liabilities and equity | $ | 1,453,047 | $ | 1,271,622 | $ | 472,417 | $ | -2,025,827 | $ | 1,171,259 | |||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 29,113 | $ | 11,771 | $ | – | $ | 40,884 | |||||
Receivables, net | 89,342 | 5,863 | 18,314 | – | 113,519 | ||||||||||
Inventories, net | 73,175 | 421,458 | 17,573 | – | 512,206 | ||||||||||
Prepaid expenses and other current assets | 22,219 | 3,412 | 4,880 | – | 30,511 | ||||||||||
Current assets – discontinued operations | 16,868 | 39,465 | 32 | – | 56,365 | ||||||||||
Total current assets | 201,604 | 499,311 | 52,570 | – | 753,485 | ||||||||||
Other assets | 115,445 | 18,409 | 810 | – | 134,664 | ||||||||||
Goodwill and intangible assets, net | 38,337 | 20,265 | 22,617 | – | 81,219 | ||||||||||
Noncurrent assets – discontinued operations | 1,185 | 1,595 | 53,159 | -1,185 | 54,754 | ||||||||||
Property and equipment, net | 24,578 | 106,269 | 9,135 | – | 139,982 | ||||||||||
Investment in subsidiaries | 862,308 | 234,014 | – | -1,096,322 | – | ||||||||||
Intercompany receivable | 215,585 | 384,523 | 174,894 | -775,002 | – | ||||||||||
Total assets | $ | 1,459,042 | $ | 1,264,386 | $ | 313,185 | $ | -1,872,509 | $ | 1,164,104 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Borrowings under revolving credit agreement | $ | 110,000 | $ | – | $ | – | $ | – | $ | 110,000 | |||||
Trade accounts payable | 32,579 | 118,756 | 22,521 | – | 173,856 | ||||||||||
Other accrued expenses | 41,432 | 89,006 | 15,249 | – | 145,687 | ||||||||||
Current liabilities – discontinued operations | 6,746 | 7,149 | 40 | – | 13,935 | ||||||||||
Total current liabilities | 190,757 | 214,911 | 37,810 | – | 443,478 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,773 | – | – | – | 198,773 | ||||||||||
Other liabilities | 34,398 | 42,601 | 5,714 | – | 82,713 | ||||||||||
Intercompany payable | 603,976 | 144,566 | 26,460 | -775,002 | – | ||||||||||
Noncurrent liabilities – discontinued operations | – | – | 8,388 | -1,185 | 7,203 | ||||||||||
Total other liabilities | 837,147 | 187,167 | 40,562 | -776,187 | 288,689 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 431,138 | 862,308 | 234,014 | -1,096,322 | 431,138 | ||||||||||
Noncontrolling interests | – | – | 799 | – | 799 | ||||||||||
Total equity | 431,138 | 862,308 | 234,813 | -1,096,322 | 431,937 | ||||||||||
Total liabilities and equity | $ | 1,459,042 | $ | 1,264,386 | $ | 313,185 | $ | -1,872,509 | $ | 1,164,104 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTEEN WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 192,767 | $ | 512,952 | $ | 42,437 | $ | -52,171 | $ | 695,985 | |||||
Cost of goods sold | 144,270 | 291,940 | 32,611 | -52,171 | 416,650 | ||||||||||
Gross profit | 48,497 | 221,012 | 9,826 | – | 279,335 | ||||||||||
Selling and administrative expenses | 55,773 | 182,963 | -2,540 | – | 236,196 | ||||||||||
Restructuring and other special charges, net | 1,522 | 624 | – | – | 2,146 | ||||||||||
Equity in (earnings) loss of subsidiaries | -31,317 | -10,031 | – | 41,348 | – | ||||||||||
Operating earnings (loss) | 22,519 | 47,456 | 12,366 | -41,348 | 40,993 | ||||||||||
Interest expense | -5,301 | -97 | – | – | -5,398 | ||||||||||
Interest income | – | 61 | 15 | – | 76 | ||||||||||
Intercompany interest income (expense) | 3,040 | -3,147 | 107 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 20,258 | 44,273 | 12,488 | -41,348 | 35,671 | ||||||||||
Income tax benefit (provision) | 3,101 | -12,402 | -2,117 | – | -11,418 | ||||||||||
Net earnings (loss) from continuing operations | 23,359 | 31,871 | 10,371 | -41,348 | 24,253 | ||||||||||
Discontinued operations: | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax | 927 | -548 | -345 | – | 34 | ||||||||||
Net earnings (loss) from discontinued operations | 927 | -548 | -345 | – | 34 | ||||||||||
Net earnings (loss) | 24,286 | 31,323 | 10,026 | -41,348 | 24,287 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -5 | – | -5 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 24,286 | $ | 31,323 | $ | 10,031 | $ | -41,348 | $ | 24,292 | |||||
Comprehensive income (loss) | $ | 24,842 | $ | 31,872 | $ | 10,018 | $ | -41,348 | $ | 25,384 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | 2 | – | 2 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 24,842 | $ | 31,872 | $ | 10,016 | $ | -41,348 | $ | 25,382 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 529,074 | $ | 1,347,547 | $ | 133,406 | $ | -150,966 | $ | 1,859,061 | |||||
Cost of goods sold | 403,710 | 756,547 | 108,527 | -150,966 | 1,117,818 | ||||||||||
Gross profit | 125,364 | 591,000 | 24,879 | – | 741,243 | ||||||||||
Selling and administrative expenses | 138,732 | 512,516 | 8,129 | – | 659,377 | ||||||||||
Restructuring and other special charges, net | 9,796 | 9,864 | – | – | 19,660 | ||||||||||
Equity in (earnings) loss of subsidiaries | -46,486 | -13,087 | – | 59,573 | – | ||||||||||
Operating earnings (loss) | 23,322 | 81,707 | 16,750 | -59,573 | 62,206 | ||||||||||
Interest expense | -16,800 | -279 | – | – | -17,079 | ||||||||||
Interest income | – | 185 | 51 | – | 236 | ||||||||||
Intercompany interest income (expense) | 9,569 | -9,889 | 320 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 16,091 | 71,724 | 17,121 | -59,573 | 45,363 | ||||||||||
Income tax benefit (provision) | 10,308 | -22,303 | -3,280 | – | -15,275 | ||||||||||
Net earnings (loss) from continuing operations | 26,399 | 49,421 | 13,841 | -59,573 | 30,088 | ||||||||||
Discontinued operations: | |||||||||||||||
Loss from discontinued operations, net of tax | -2,953 | -2,714 | -1,220 | – | -6,887 | ||||||||||
Net loss from discontinued operations | -2,953 | -2,714 | -1,220 | – | -6,887 | ||||||||||
Net earnings (loss) | 23,446 | 46,707 | 12,621 | -59,573 | 23,201 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -251 | – | -251 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 23,446 | $ | 46,707 | $ | 12,872 | $ | -59,573 | $ | 23,452 | |||||
Comprehensive income (loss) | $ | 23,422 | 46,954 | 12,617 | -59,573 | 23,420 | |||||||||
Comprehensive loss attributable to noncontrolling interests | – | – | -248 | – | -248 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 23,422 | $ | 46,954 | $ | 12,865 | $ | -59,573 | $ | 23,668 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net cash provided by (used for) operating activities | $ | 19,306 | $ | -53,096 | $ | 177,313 | $ | – | $ | 143,523 | |||||
Investing activities | |||||||||||||||
Purchases of property and equipment | -3,809 | -33,602 | -1,670 | – | -39,081 | ||||||||||
Capitalized software | -5,433 | – | -3 | – | -5,436 | ||||||||||
Acquisition cost | – | -5,000 | – | – | -5,000 | ||||||||||
Net cash used for investing activities | -9,242 | -38,602 | -1,673 | – | -49,517 | ||||||||||
Financing activities | |||||||||||||||
Borrowings under revolving credit agreement | 582,000 | – | – | – | 582,000 | ||||||||||
Repayments under revolving credit agreement | -673,000 | – | – | – | -673,000 | ||||||||||
Dividends paid | -9,007 | – | – | – | -9,007 | ||||||||||
Issuance of common stock under share-based plans, net | -1,860 | – | – | – | -1,860 | ||||||||||
Tax benefit related to share-based plans | 889 | – | – | – | 889 | ||||||||||
Intercompany financing | 95,300 | 86,305 | -181,605 | – | – | ||||||||||
Net cash (used for) provided by financing activities | -5,678 | 86,305 | -181,605 | – | -100,978 | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | – | 174 | – | – | 174 | ||||||||||
Increase (decrease) in cash and cash equivalents | 4,386 | -5,219 | -5,965 | – | -6,798 | ||||||||||
Cash and cash equivalents at beginning of period | -4,386 | 34,332 | 17,736 | – | 47,682 | ||||||||||
Cash and cash equivalents at end of period | $ | – | $ | 29,113 | $ | 11,771 | $ | – | $ | 40,884 | |||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Schedule Of Assets And Liabilities Reported As Discontinued Operations | ' | ||||||||
November 2, | October 27, | February 2, | |||||||
($ thousands) | 2013 | 2012 | 2013 | ||||||
Discontinued Assets | |||||||||
Current assets | |||||||||
Receivables, net | $ | 73 | $ | 25,043 | $ | 14,291 | |||
Inventories, net | 75 | 27,153 | 29,587 | ||||||
Prepaid expenses and other current assets | 33 | 4,169 | 3,231 | ||||||
Total current assets | 181 | 56,365 | 47,109 | ||||||
Other assets | – | 530 | 419 | ||||||
Goodwill | – | 25,650 | 25,650 | ||||||
Intangible assets, net | – | 27,508 | 27,275 | ||||||
Property and equipment, net | – | 1,066 | 1,233 | ||||||
Total assets | $ | 181 | $ | 111,119 | $ | 101,686 | |||
Discontinued Liabilities | |||||||||
Current liabilities | |||||||||
Trade accounts payable | $ | 178 | $ | 9,566 | $ | 9,082 | |||
Other accrued expenses | 1,932 | 4,369 | 4,177 | ||||||
Total current liabilities | 2,110 | 13,935 | 13,259 | ||||||
Other liabilities | – | 7,203 | 6,996 | ||||||
Total liabilities | $ | 2,110 | $ | 21,138 | $ | 20,255 | |||
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 9 Months Ended | |||||||||||
Nov. 02, 2013 | ||||||||||||
Earnings (Loss) Per Share [Abstract] | ' | |||||||||||
Schedule Of Basic And Diluted Earnings (Loss) Per Common Share | ' | |||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | |||||||||||
November 2, | October 27, | November 2, | October 27, | |||||||||
($ thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | ||||||||
NUMERATOR | ||||||||||||
Net earnings from continuing operations | $ | 27,051 | $ | 24,253 | $ | 48,031 | $ | 30,088 | ||||
Net loss attributable to noncontrolling interests | 30 | 5 | 174 | 251 | ||||||||
Net earnings allocated to participating securities | -1,097 | -1,210 | -2,098 | -1,505 | ||||||||
Net earnings from continuing operations | 25,984 | 23,048 | 46,107 | 28,834 | ||||||||
Net earnings (loss) from discontinued operations | 233 | 34 | -16,296 | -6,887 | ||||||||
Net (earnings) loss allocated to participating securities | -9 | -2 | 712 | 339 | ||||||||
Net earnings (loss) from discontinued operations | 224 | 32 | -15,584 | -6,548 | ||||||||
Net earnings attributable to Brown Shoe Company, Inc. after allocation of earnings to participating securities | $ | 26,208 | $ | 23,080 | $ | 30,523 | $ | 22,286 | ||||
DENOMINATOR | ||||||||||||
Denominator for basic continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,447 | 40,745 | 41,288 | 40,618 | ||||||||
Dilutive effect of share-based awards for continuing operations and discontinued operations | 319 | 190 | 283 | 103 | ||||||||
Denominator for diluted continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,766 | 40,935 | 41,571 | 40,721 | ||||||||
Basic earnings (loss) per common share: | ||||||||||||
From continuing operations | $ | 0.63 | $ | 0.57 | $ | 1.12 | $ | 0.71 | ||||
From discontinued operations | – | – | -0.38 | -0.16 | ||||||||
Basic earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $ | 0.63 | $ | 0.57 | $ | 0.74 | $ | 0.55 | ||||
Diluted earnings (loss) per common share: | ||||||||||||
From continuing operations | $ | 0.62 | $ | 0.56 | $ | 1.11 | $ | 0.71 | ||||
From discontinued operations | 0.01 | – | -0.38 | -0.16 | ||||||||
Diluted earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $ | 0.63 | $ | 0.56 | $ | 0.73 | $ | 0.55 | ||||
Restructuring_Initiatives_Tabl
Restructuring Initiatives (Tables) | 9 Months Ended | ||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||
Restructuring Initiatives [Abstract] | ' | ||||||||||||||||||||
Portfolio Realignment Expense (Income) | ' | ||||||||||||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | ||||||||||||||||||||
($ millions, except per share data) | Pre-tax Expense | After-tax Expense | Loss Per Diluted Share | Pre-tax Expense | After-tax Expense | Loss Per Diluted Share | |||||||||||||||
2-Nov-13 | |||||||||||||||||||||
Continuing Operations | |||||||||||||||||||||
Business exits and cost reductions | $ | – | $ | – | $ | – | $ | 1.2 | $ | 0.8 | $ | 0.02 | |||||||||
Non-cash impairments/dispositions | – | – | – | 4.7 | 4.7 | 0.11 | |||||||||||||||
Total Continuing Operations | – | – | – | 5.9 | 5.5 | 0.13 | |||||||||||||||
Discontinued Operations | |||||||||||||||||||||
Business exits and cost reductions | – | – | – | 13.3 | 6.4 | 0.13 | |||||||||||||||
Non-cash impairments/dispositions | – | – | – | 11.5 | 11.5 | 0.28 | |||||||||||||||
Total Discontinued Operations | – | – | – | 24.8 | 17.9 | 0.41 | |||||||||||||||
Total | $ | – | $ | – | $ | – | $ | 30.7 | $ | 23.4 | $ | 0.54 | |||||||||
27-Oct-12 | |||||||||||||||||||||
Continuing Operations | |||||||||||||||||||||
Business exits and cost reductions | $ | 2.3 | $ | 1.4 | $ | 0.04 | $ | 18.9 | $ | 12.4 | $ | 0.29 | |||||||||
Non-cash impairments/dispositions | – | – | – | – | – | – | |||||||||||||||
Total Continuing Operations | 2.3 | 1.4 | 0.04 | 18.9 | 12.4 | 0.29 | |||||||||||||||
Discontinued Operations | |||||||||||||||||||||
Business exits and cost reductions | 0.3 | 0.2 | – | 8.1 | 5.0 | 0.12 | |||||||||||||||
Non-cash impairments/dispositions | – | – | – | – | – | – | |||||||||||||||
Total Discontinued Operations | 0.3 | 0.2 | – | 8.1 | 5.0 | 0.12 | |||||||||||||||
Total | $ | 2.6 | $ | 1.6 | $ | 0.04 | $ | 27.0 | $ | 17.4 | $ | 0.41 | |||||||||
Summary Of The Charges And Settlements By Category Of Costs | ' | ||||||||||||||||||||
Total by Classification | |||||||||||||||||||||
($ millions) | Employee | Markdowns and Royalty Shortfalls | Facility | Other | Total | Continuing Operations | Discontinued Operations | ||||||||||||||
Reserve balance at January 28, 2012 | $ | 5.8 | $ | 1.6 | $ | 1.3 | $ | 1.3 | $ | 10.0 | $ | 10.0 | $ | – | |||||||
Additional charges in 2012 | 6.0 | 3.1 | 11.4 | 9.4 | 29.9 | 21.9 | 8.0 | ||||||||||||||
Amounts settled in 2012 | -10.1 | -4.5 | -9.4 | -10.4 | -34.4 | -26.6 | -7.8 | ||||||||||||||
Reserve balance at February 2, 2013 | $ | 1.7 | $ | 0.2 | $ | 3.3 | $ | 0.3 | $ | 5.5 | $ | 5.3 | $ | 0.2 | |||||||
Additional charges in first quarter 2013 | 0.4 | 3.0 | 0.1 | 25.3 | 28.8 | 5.2 | 23.6 | ||||||||||||||
Amounts settled in first quarter 2013 | -1 | -2.8 | -0.8 | -18.2 | -22.8 | -7 | -15.8 | ||||||||||||||
Reserve balance at May 4, 2013 | $ | 1.1 | $ | 0.4 | $ | 2.6 | $ | 7.4 | $ | 11.5 | $ | 3.5 | $ | 8.0 | |||||||
Additional charges (recoveries) in second quarter 2013 | 2.3 | -0.4 | – | -0.1 | 1.8 | 0.7 | 1.1 | ||||||||||||||
Amounts settled in second quarter 2013 | -1 | 0.3 | -0.6 | -7 | -8.3 | -1.8 | -6.5 | ||||||||||||||
Reserve balance at August 3, 2013 | $ | 2.4 | $ | 0.3 | $ | 2.0 | $ | 0.3 | $ | 5.0 | $ | 2.4 | $ | 2.6 | |||||||
Additional charges in third quarter 2013 | – | – | – | – | – | – | – | ||||||||||||||
Amounts settled in third quarter 2013 | -0.3 | -0.3 | -0.3 | -0.3 | -1.2 | -0.4 | -0.8 | ||||||||||||||
Reserve balance at November 2, 2013 | $ | 2.1 | $ | – | $ | 1.7 | $ | – | $ | 3.8 | $ | 2.0 | $ | 1.8 | |||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 9 Months Ended | ||||||||||||||
Nov. 02, 2013 | |||||||||||||||
Business Segment Information [Abstract] | ' | ||||||||||||||
Schedule Of Business Segment Information | ' | ||||||||||||||
Famous | Wholesale | Specialty | |||||||||||||
($ thousands) | Footwear | Operations | Retail | Other | Total | ||||||||||
Thirteen Weeks Ended November 2, 2013 | |||||||||||||||
External sales | $ | 439,605 | $ | 205,269 | $ | 57,914 | $ | – | $ | 702,788 | |||||
Intersegment sales | 543 | 51,343 | – | – | 51,886 | ||||||||||
Operating earnings (loss) | 37,047 | 16,782 | 221 | -9,382 | 44,668 | ||||||||||
Segment assets - continuing operations | 485,217 | 379,249 | 93,747 | 128,517 | 1,086,730 | ||||||||||
Thirteen Weeks Ended October 27, 2012 | |||||||||||||||
External sales | $ | 436,812 | $ | 196,371 | $ | 62,802 | $ | – | $ | 695,985 | |||||
Intersegment sales | 505 | 57,848 | – | – | 58,353 | ||||||||||
Operating earnings (loss) | 35,525 | 15,169 | 1,771 | -11,472 | 40,993 | ||||||||||
Segment assets - continuing operations | 462,904 | 387,720 | 59,805 | 142,556 | 1,052,985 | ||||||||||
Thirty-nine Weeks Ended November 2, 2013 | |||||||||||||||
External sales | $ | 1,180,143 | $ | 567,334 | $ | 165,673 | $ | – | $ | 1,913,150 | |||||
Intersegment sales | 1,753 | 152,276 | – | – | 154,029 | ||||||||||
Operating earnings (loss) | 95,057 | 28,085 | -2,934 | -31,770 | 88,438 | ||||||||||
Thirty-nine Weeks Ended October 27, 2012 | |||||||||||||||
External sales | $ | 1,134,237 | $ | 551,896 | $ | 172,928 | $ | – | $ | 1,859,061 | |||||
Intersegment sales | 1,529 | 159,641 | – | – | 161,170 | ||||||||||
Operating earnings (loss) | 74,365 | 25,833 | -7,551 | -30,441 | 62,206 | ||||||||||
Schedule Of Reconciliation Of Operating Earnings Before Income Taxes From Continuing Operations | ' | ||||||||||||||
Thirteen Weeks Ended | Thirty-nine Weeks Ended | ||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Operating earnings | $ | 44,668 | $ | 40,993 | $ | 88,438 | $ | 62,206 | |||||||
Interest expense | -5,254 | -5,398 | -16,167 | -17,079 | |||||||||||
Interest income | 132 | 76 | 282 | 236 | |||||||||||
Earnings before income taxes from continuing operations | $ | 39,546 | $ | 35,671 | $ | 72,553 | $ | 45,363 | |||||||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Goodwill And Intangible Assets [Abstract] | ' | ||||||||
Schedule Of Goodwill And Intangible Assets | ' | ||||||||
November 2, | October 27, | February 2, | |||||||
($ thousands) | 2013 | 2012 | 2013 | ||||||
Intangible Assets | |||||||||
Famous Footwear | $ | 2,800 | $ | 2,800 | $ | 2,800 | |||
Wholesale Operations | 118,003 | 118,003 | 118,003 | ||||||
Specialty Retail | 200 | 200 | 200 | ||||||
Total intangible assets | 121,003 | 121,003 | 121,003 | ||||||
Accumulated amortization | -59,776 | -53,738 | -55,254 | ||||||
Total intangible assets, net | 61,227 | 67,265 | 65,749 | ||||||
Goodwill | |||||||||
Wholesale Operations | 13,954 | 13,954 | 13,954 | ||||||
Total goodwill | 13,954 | 13,954 | 13,954 | ||||||
Goodwill and intangible assets, net | $ | 75,181 | $ | 81,219 | $ | 79,703 | |||
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Shareholders' Equity [Abstract] | ' | ||||||||||||
Schedule Of Changes In Shareholders' Equity And Noncontrolling Interests | ' | ||||||||||||
($ thousands) | Brown Shoe Company, Inc. Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||
Equity at February 2, 2013 | $ | 425,129 | $ | 772 | $ | 425,901 | |||||||
Net earnings (loss) | 31,909 | -174 | 31,735 | ||||||||||
Other comprehensive (loss) income | -905 | 60 | -845 | ||||||||||
Dividends paid | -9,073 | – | -9,073 | ||||||||||
Issuance of common stock under share-based plans, net | -2,406 | – | -2,406 | ||||||||||
Tax benefit related to share-based plans | 2,581 | – | 2,581 | ||||||||||
Share-based compensation expense | 4,066 | – | 4,066 | ||||||||||
Equity at November 2, 2013 | $ | 451,301 | $ | 658 | $ | 451,959 | |||||||
($ thousands) | Brown Shoe Company, Inc. Shareholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||
Equity at January 28, 2012 | $ | 412,669 | $ | 1,047 | $ | 413,716 | |||||||
Net earnings (loss) | 23,452 | -251 | 23,201 | ||||||||||
Other comprehensive income | 219 | 3 | 222 | ||||||||||
Dividends paid | -9,007 | – | -9,007 | ||||||||||
Issuance of common stock under share-based plans, net | -1,860 | – | -1,860 | ||||||||||
Tax benefit related to share-based plans | 889 | – | 889 | ||||||||||
Share-based compensation expense | 4,776 | – | 4,776 | ||||||||||
Equity at October 27, 2012 | $ | 431,138 | $ | 799 | $ | 431,937 | |||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
Accumulated | Accumulated | Accumulated | Other | ||||||||||
Currency | Derivative | Postretirement | Comprehensive | ||||||||||
($ thousands) | Translation | Transactions | Transactions | (Loss) Income | |||||||||
Balance August 3, 2013 | $ | 5,322 | $ | 317 | $ | -5,666 | $ | -27 | |||||
Other comprehensive (loss) income before reclassifications | -100 | 79 | – | -21 | |||||||||
Amounts reclassified from accumulated other comprehensive (loss) income | – | -111 | 138 | 27 | |||||||||
Other comprehensive (loss) income | -100 | -32 | 138 | 6 | |||||||||
Balance November 2, 2013 | $ | 5,222 | $ | 285 | $ | -5,528 | $ | -21 | |||||
Balance February 2, 2013 | 6,912 | -81 | -5,947 | 884 | |||||||||
Other comprehensive (loss) income before reclassifications | -1,690 | 714 | – | -976 | |||||||||
Amounts reclassified from accumulated other comprehensive (loss) income | – | -348 | 419 | 71 | |||||||||
Other comprehensive (loss) income | -1,690 | 366 | 419 | -905 | |||||||||
Balance November 2, 2013 | $ | 5,222 | $ | 285 | $ | -5,528 | $ | -21 | |||||
Schedule Of Items Reclassified Out Of Accumulated Other Comprehensive (Loss) Income | ' | ||||||||||||
The following table sets forth the reclassifications out of accumulated other comprehensive (loss) income and the related tax effect by component for the thirteen and thirty-nine weeks ended November 2, 2013: | |||||||||||||
Thirteen Weeks Ended November 2, 2013 | |||||||||||||
Derivative | Postretirement | Tax | |||||||||||
($ thousands) | Transactions | Transactions | Effect | Total | |||||||||
Net gains from derivative financial instruments | $ | -168 | $ | – | $ | 57 | $ | -111 | |||||
Pension and other postretirement benefits actuarial loss | – | 216 | -81 | 135 | |||||||||
Pension benefits prior service expense | – | 4 | -1 | 3 | |||||||||
$ | -168 | $ | 220 | $ | -25 | $ | 27 | ||||||
Thirty-nine Weeks Ended November 2, 2013 | |||||||||||||
Derivative | Postretirement | Tax | |||||||||||
($ thousands) | Transactions | Transactions | Effect | Total | |||||||||
Net gains from derivative financial instruments | $ | -530 | $ | – | $ | 182 | $ | -348 | |||||
Pension and other postretirement benefits actuarial loss | – | 661 | -249 | 412 | |||||||||
Pension benefits prior service expense | – | 10 | -3 | 7 | |||||||||
$ | -530 | $ | 671 | $ | -70 | $ | 71 | ||||||
Retirement_And_Other_Benefit_P1
Retirement And Other Benefit Plans (Tables) | 9 Months Ended | |||||||||
Nov. 02, 2013 | ||||||||||
Retirement And Other Benefit Plans [Abstract] | ' | |||||||||
Schedule Of Components Of Net Periodic Benefit Cost (Income) | ' | |||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | |||||||||
November 2, | October 27, | November 2, | October 27, | |||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | ||||||
Service cost | $ | 2,583 | $ | 2,845 | $ | – | $ | – | ||
Interest cost | 3,305 | 3,182 | 35 | 36 | ||||||
Expected return on assets | -6,200 | -6,266 | – | – | ||||||
Amortization of: | ||||||||||
Actuarial loss (gain) | 238 | 41 | -20 | -23 | ||||||
Prior service expense | 4 | 4 | – | – | ||||||
Net transition asset | – | -11 | – | – | ||||||
Total net periodic benefit (income) cost | $ | -70 | $ | -205 | $ | 15 | $ | 13 | ||
Pension Benefits | Other Postretirement Benefits | |||||||||
Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||
November 2, | October 27, | November 2, | October 27, | |||||||
($ thousands) | 2013 | 2012 | 2013 | 2012 | ||||||
Service cost | $ | 8,057 | $ | 8,675 | $ | – | $ | – | ||
Interest cost | 9,940 | 9,546 | 105 | 112 | ||||||
Expected return on assets | -18,576 | -18,806 | – | – | ||||||
Amortization of: | ||||||||||
Actuarial loss (gain) | 723 | 166 | -60 | -59 | ||||||
Prior service expense | 10 | 8 | – | – | ||||||
Net transition asset | – | -33 | – | – | ||||||
Total net periodic benefit cost (income) | $ | 154 | $ | -444 | $ | 45 | $ | 53 | ||
Risk_Management_And_Derivative1
Risk Management And Derivatives (Tables) | 9 Months Ended | |||||||||
Nov. 02, 2013 | ||||||||||
Risk Management And Derivatives [Abstract] | ' | |||||||||
Schedule Of Contract Net Amount Of All Purchase And Sale Contracts Of A Foreign Currency | ' | |||||||||
Contract Amount | ||||||||||
(U.S. $ equivalent in thousands) | 2-Nov-13 | 27-Oct-12 | 2-Feb-13 | |||||||
Financial Instruments | ||||||||||
U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) | $ | 18,024 | $ | 19,427 | $ | 18,442 | ||||
Chinese yuan | 14,860 | 22,193 | 15,544 | |||||||
Euro | 8,729 | 4,784 | 3,459 | |||||||
Japanese yen | 1,657 | 1,563 | 1,665 | |||||||
New Taiwanese dollars | 633 | 935 | 734 | |||||||
Great Britain pounds sterling | – | 211 | 63 | |||||||
Other currencies | 739 | 853 | 729 | |||||||
Total financial instruments | $ | 44,642 | $ | 49,966 | $ | 40,636 | ||||
Schedule Of Effect Of Derivative Instruments In Cash Flow Hedging Relationships On Condensed Consolidated Statements Of Earnings And Balance Sheet | ' | |||||||||
Asset Derivatives | Liability Derivatives | |||||||||
($ thousands) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
Foreign exchange forward contracts: | ||||||||||
2-Nov-13 | Prepaid expenses and other current assets | $ | 417 | Other accrued expenses | $ | 184 | ||||
27-Oct-12 | Prepaid expenses and other current assets | 189 | Other accrued expenses | 438 | ||||||
2-Feb-13 | Prepaid expenses and other current assets | 380 | Other accrued expenses | 373 | ||||||
For the thirteen weeks ended November 2, 2013 and October 27, 2012, the effect of derivative instruments in cash flow hedging relationships on the condensed consolidated statements of earnings was as follows: | ||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | |||||||||
($ thousands) | 2-Nov-13 | 27-Oct-12 | ||||||||
Foreign exchange forward contracts: | Gain (Loss) Recognized in OCI on Derivatives | Gain Reclassified from Accumulated OCI into Earnings | Gain Recognized in OCI on Derivatives | (Loss) Gain Reclassified from Accumulated OCI into Earnings | ||||||
Income Statement Classification Gains (Losses) - Realized | ||||||||||
Net sales | $ | 161 | $ | 59 | $ | 16 | $ | -26 | ||
Cost of goods sold | -163 | 24 | 204 | -187 | ||||||
Selling and administrative expenses | 145 | 85 | 423 | 11 | ||||||
Interest expense | -3 | – | – | – | ||||||
Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||
($ in thousands) | 2-Nov-13 | 27-Oct-12 | ||||||||
Foreign exchange forward contracts: | Gain Recognized in OCI on Derivatives | Gain Reclassified from Accumulated OCI into Earnings | Gain (Loss) Recognized in OCI on Derivatives | (Loss) Gain Reclassified from Accumulated OCI into Earnings | ||||||
Income Statement Classification Gains (Losses) - Realized | ||||||||||
Net sales | $ | 278 | $ | 207 | $ | 37 | $ | -12 | ||
Cost of goods sold | 382 | 51 | -672 | -265 | ||||||
Selling and administrative expenses | 354 | 272 | -49 | 40 | ||||||
Interest expense | 8 | – | -7 | – | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||
Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis | ' | ||||||||||||
Fair Value Measurements | |||||||||||||
($ thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||
Asset (Liability) | |||||||||||||
As of November 2, 2013 | |||||||||||||
Cash equivalents – money market funds | $ | 4,472 | $ | 4,472 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 2,081 | 2,081 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -2,081 | -2,081 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,565 | -1,565 | – | – | |||||||||
Derivative financial instruments, net | 233 | – | 233 | – | |||||||||
As of October 27, 2012 | |||||||||||||
Cash equivalents – money market funds | $ | 3,092 | $ | 3,092 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 1,272 | 1,272 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -1,272 | -1,272 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,022 | -1,022 | – | – | |||||||||
Derivative financial instruments, net | -249 | – | -249 | – | |||||||||
As of February 2, 2013: | |||||||||||||
Cash equivalents – money market funds | $ | 27,223 | $ | 27,223 | $ | – | $ | – | |||||
Non-qualified deferred compensation plan assets | 1,411 | 1,411 | – | – | |||||||||
Non-qualified deferred compensation plan liabilities | -1,411 | -1,411 | – | – | |||||||||
Deferred compensation plan liabilities for non-employee directors | -1,139 | -1,139 | – | – | |||||||||
Derivative financial instruments, net | 7 | – | 7 | – | |||||||||
Schedule Of Fair Value Of Financial Instruments | ' | ||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Feb-13 | |||||||||||
Carrying | Fair | Carrying | Fair | Carrying | Fair | ||||||||
($ thousands) | Amount | Value | Amount | Value | Amount | Value | |||||||
Senior Notes | $ | 198,963 | $ | 210,500 | $ | 198,773 | $ | 204,000 | $ | 198,823 | $ | 208,000 | |
Financial_Information_For_The_1
Financial Information For The Company And Its Subsidiaries (Tables) | 9 Months Ended | ||||||||||||||
Nov. 02, 2013 | |||||||||||||||
Financial Information For The Company And Its Subsidiaries [Abstract] | ' | ||||||||||||||
Schedule Of Condensed Consolidating Balance Sheet | ' | ||||||||||||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 29,722 | $ | 12,684 | $ | – | $ | 42,406 | |||||
Receivables, net | 93,097 | 1,275 | 18,119 | – | 112,491 | ||||||||||
Inventories, net | 98,548 | 439,807 | 6,234 | – | 544,589 | ||||||||||
Prepaid expenses and other current assets | 37,418 | 11,423 | 3,393 | – | 52,234 | ||||||||||
Current assets – discontinued operations | 158 | – | 23 | – | 181 | ||||||||||
Total current assets | 229,221 | 482,227 | 40,453 | – | 751,901 | ||||||||||
Other assets | 95,221 | 15,812 | 614 | – | 111,647 | ||||||||||
Goodwill and intangible assets, net | 56,369 | 18,812 | – | – | 75,181 | ||||||||||
Property and equipment, net | 26,908 | 118,976 | 2,298 | – | 148,182 | ||||||||||
Investment in subsidiaries | 851,906 | 152,992 | – | -1,004,898 | – | ||||||||||
Intercompany receivable | 431,576 | 483,667 | 233,844 | -1,149,087 | – | ||||||||||
Total assets | $ | 1,691,201 | $ | 1,272,486 | $ | 277,209 | $ | -2,153,985 | $ | 1,086,911 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Trade accounts payable | $ | 44,889 | $ | 136,669 | $ | 19,148 | $ | – | $ | 200,706 | |||||
Other accrued expenses | 58,289 | 83,483 | 9,370 | – | 151,142 | ||||||||||
Current liabilities – discontinued operations | 2,065 | – | 45 | – | 2,110 | ||||||||||
Total current liabilities | 105,243 | 220,152 | 28,563 | – | 353,958 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,963 | – | – | – | 198,963 | ||||||||||
Other liabilities | 29,395 | 51,192 | 1,444 | – | 82,031 | ||||||||||
Intercompany payable | 906,299 | 149,223 | 93,549 | -1,149,071 | – | ||||||||||
Total other liabilities | 1,134,657 | 200,415 | 94,993 | -1,149,071 | 280,994 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 451,301 | 851,906 | 152,992 | -1,004,898 | 451,301 | ||||||||||
Noncontrolling interests | – | – | 658 | – | 658 | ||||||||||
Total equity | 451,301 | 851,906 | 153,650 | -1,004,898 | 451,959 | ||||||||||
Total liabilities and equity | $ | 1,691,201 | $ | 1,272,473 | $ | 277,206 | $ | -2,153,969 | $ | 1,086,911 | |||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF FEBRUARY 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 32,060 | $ | 36,163 | $ | – | $ | 68,223 | |||||
Receivables, net | 67,571 | 6,593 | 37,228 | – | 111,392 | ||||||||||
Inventories, net | 92,683 | 394,468 | 16,537 | – | 503,688 | ||||||||||
Prepaid expenses and other current assets | 14,523 | 26,524 | 969 | – | 42,016 | ||||||||||
Current assets – discontinued operations | 5,447 | 41,553 | 109 | – | 47,109 | ||||||||||
Total current assets | 180,224 | 501,198 | 91,006 | – | 772,428 | ||||||||||
Other assets | 99,527 | 19,320 | 848 | – | 119,695 | ||||||||||
Goodwill and intangible assets, net | 37,270 | 19,901 | 22,532 | – | 79,703 | ||||||||||
Noncurrent assets – discontinued operations | 1,145 | 3,980 | 52,925 | -3,473 | 54,577 | ||||||||||
Property and equipment, net | 27,931 | 108,224 | 8,701 | – | 144,856 | ||||||||||
Investment in subsidiaries | 765,729 | 91,136 | 113,033 | -969,898 | – | ||||||||||
Intercompany receivable | 341,222 | 527,863 | 183,374 | -1,052,459 | – | ||||||||||
Total assets | $ | 1,453,048 | $ | 1,271,622 | $ | 472,419 | $ | -2,025,830 | $ | 1,171,259 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Borrowings under revolving credit agreement | $ | 105,000 | $ | – | $ | – | $ | – | $ | 105,000 | |||||
Trade accounts payable | 53,350 | 118,096 | 42,214 | – | 213,660 | ||||||||||
Other accrued expenses | 51,751 | 78,293 | 7,146 | – | 137,190 | ||||||||||
Current liabilities – discontinued operations | 3,754 | 9,396 | 109 | – | 13,259 | ||||||||||
Total current liabilities | 213,855 | 205,785 | 49,469 | – | 469,109 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,823 | – | – | – | 198,823 | ||||||||||
Other liabilities | 17,042 | 48,986 | 4,402 | – | 70,430 | ||||||||||
Non current liabilities – discontinued operations | – | – | 10,469 | -3,473 | 6,996 | ||||||||||
Intercompany payable | 598,198 | 138,089 | 316,169 | -1,052,456 | – | ||||||||||
Total other liabilities | 814,063 | 187,075 | 331,040 | -1,055,929 | 276,249 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 425,129 | 878,762 | 91,136 | -969,898 | 425,129 | ||||||||||
Noncontrolling interests | – | – | 772 | – | 772 | ||||||||||
Total equity | 425,129 | 878,762 | 91,908 | -969,898 | 425,901 | ||||||||||
Total liabilities and equity | $ | 1,453,047 | $ | 1,271,622 | $ | 472,417 | $ | -2,025,827 | $ | 1,171,259 | |||||
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||
AS OF OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Assets | |||||||||||||||
Current assets | |||||||||||||||
Cash and cash equivalents | $ | – | $ | 29,113 | $ | 11,771 | $ | – | $ | 40,884 | |||||
Receivables, net | 89,342 | 5,863 | 18,314 | – | 113,519 | ||||||||||
Inventories, net | 73,175 | 421,458 | 17,573 | – | 512,206 | ||||||||||
Prepaid expenses and other current assets | 22,219 | 3,412 | 4,880 | – | 30,511 | ||||||||||
Current assets – discontinued operations | 16,868 | 39,465 | 32 | – | 56,365 | ||||||||||
Total current assets | 201,604 | 499,311 | 52,570 | – | 753,485 | ||||||||||
Other assets | 115,445 | 18,409 | 810 | – | 134,664 | ||||||||||
Goodwill and intangible assets, net | 38,337 | 20,265 | 22,617 | – | 81,219 | ||||||||||
Noncurrent assets – discontinued operations | 1,185 | 1,595 | 53,159 | -1,185 | 54,754 | ||||||||||
Property and equipment, net | 24,578 | 106,269 | 9,135 | – | 139,982 | ||||||||||
Investment in subsidiaries | 862,308 | 234,014 | – | -1,096,322 | – | ||||||||||
Intercompany receivable | 215,585 | 384,522 | 174,893 | -775,000 | – | ||||||||||
Total assets | $ | 1,459,042 | $ | 1,264,385 | $ | 313,184 | $ | -1,872,507 | $ | 1,164,104 | |||||
Liabilities and Equity | |||||||||||||||
Current liabilities | |||||||||||||||
Borrowings under revolving credit agreement | $ | 110,000 | $ | – | $ | – | $ | – | $ | 110,000 | |||||
Trade accounts payable | 32,579 | 118,756 | 22,521 | – | 173,856 | ||||||||||
Other accrued expenses | 41,432 | 89,006 | 15,249 | – | 145,687 | ||||||||||
Current liabilities – discontinued operations | 6,746 | 7,149 | 40 | – | 13,935 | ||||||||||
Total current liabilities | 190,757 | 214,911 | 37,810 | – | 443,478 | ||||||||||
Other liabilities | |||||||||||||||
Long-term debt | 198,773 | – | – | – | 198,773 | ||||||||||
Other liabilities | 34,398 | 42,601 | 5,714 | – | 82,713 | ||||||||||
Intercompany payable | 603,976 | 144,566 | 26,460 | -775,002 | – | ||||||||||
Noncurrent liabilities – discontinued operations | – | – | 8,388 | -1,185 | 7,203 | ||||||||||
Total other liabilities | 837,147 | 187,167 | 40,562 | -776,187 | 288,689 | ||||||||||
Equity | |||||||||||||||
Brown Shoe Company, Inc. shareholders’ equity | 431,138 | 862,308 | 234,014 | -1,096,322 | 431,138 | ||||||||||
Noncontrolling interests | – | – | 799 | – | 799 | ||||||||||
Total equity | 431,138 | 862,308 | 234,813 | -1,096,322 | 431,937 | ||||||||||
Total liabilities and equity | $ | 1,459,042 | $ | 1,264,386 | $ | 313,185 | $ | -1,872,509 | $ | 1,164,104 | |||||
Schedule Of Condensed Consolidating Statement Of Comprehensive Income | ' | ||||||||||||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTEEN WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 213,028 | $ | 498,383 | $ | 36,753 | $ | -45,376 | $ | 702,788 | |||||
Cost of goods sold | 157,500 | 282,617 | 29,807 | -45,376 | 424,548 | ||||||||||
Gross profit | 55,528 | 215,766 | 6,946 | – | 278,240 | ||||||||||
Selling and administrative expenses | 53,327 | 178,810 | 1,435 | – | 233,572 | ||||||||||
Equity in (earnings) loss of subsidiaries | -31,516 | 2,728 | – | 28,788 | – | ||||||||||
Operating earnings (loss) | 33,717 | 34,228 | 5,511 | -28,788 | 44,668 | ||||||||||
Interest expense | -5,254 | – | – | – | -5,254 | ||||||||||
Interest income | 4 | 69 | 59 | – | 132 | ||||||||||
Intercompany interest income (expense) | 3,558 | -3,693 | 135 | – | – | ||||||||||
Intercompany dividend | – | 7,778 | -7,778 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 32,025 | 38,382 | -2,073 | -28,788 | 39,546 | ||||||||||
Income tax provision | -5,011 | -6,822 | -662 | – | -12,495 | ||||||||||
Net earnings (loss) from continuing operations | 27,014 | 31,560 | -2,735 | -28,788 | 27,051 | ||||||||||
Discontinued operations: | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax | 300 | -44 | -23 | – | 233 | ||||||||||
Net earnings (loss) from discontinued operations | 300 | -44 | -23 | – | 233 | ||||||||||
Net earnings (loss) | 27,314 | 31,516 | -2,758 | -28,788 | 27,284 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -30 | – | -30 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 27,314 | $ | 31,516 | $ | -2,728 | $ | -28,788 | $ | 27,314 | |||||
Comprehensive income (loss) | $ | 27,320 | $ | 31,314 | $ | -2,759 | $ | -28,585 | $ | 27,290 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | -25 | – | -25 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 27,320 | $ | 31,314 | $ | -2,734 | $ | -28,585 | $ | 27,315 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 551,962 | $ | 1,361,742 | $ | 136,825 | $ | -137,379 | $ | 1,913,150 | |||||
Cost of goods sold | 412,736 | 754,229 | 110,682 | -137,379 | 1,140,268 | ||||||||||
Gross profit | 139,226 | 607,513 | 26,143 | – | 772,882 | ||||||||||
Selling and administrative expenses | 169,037 | 504,411 | 5,074 | – | 678,522 | ||||||||||
Restructuring and other special charges, net | 746 | 516 | – | – | 1,262 | ||||||||||
Impairment of assets held for sale | – | – | 4,660 | – | 4,660 | ||||||||||
Equity in (earnings) loss of subsidiaries | -70,990 | 3,789 | – | 67,201 | – | ||||||||||
Operating earnings (loss) | 40,433 | 98,797 | 16,409 | -67,201 | 88,438 | ||||||||||
Interest expense | -16,076 | -91 | – | – | -16,167 | ||||||||||
Interest income | 17 | 201 | 64 | – | 282 | ||||||||||
Intercompany interest income (expense) | 10,487 | -10,879 | 392 | – | – | ||||||||||
Intercompany dividend | – | 7,778 | -7,778 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 34,861 | 95,806 | 9,087 | -67,201 | 72,553 | ||||||||||
Income tax benefit (provision) | 2,630 | -26,995 | -157 | – | -24,522 | ||||||||||
Net earnings (loss) from continuing operations | 37,491 | 68,811 | 8,930 | -67,201 | 48,031 | ||||||||||
Discontinued operations: | |||||||||||||||
(Loss) earnings from discontinued operations, net of tax | -5,582 | 1,137 | -339 | – | -4,784 | ||||||||||
Impairment of net assets/disposition of discontinued operations | – | 1,042 | -12,554 | – | -11,512 | ||||||||||
Net (loss) earnings from discontinued operations | -5,582 | 2,179 | -12,893 | – | -16,296 | ||||||||||
Net earnings (loss) | $ | 31,909 | $ | 70,990 | $ | -3,963 | $ | -67,201 | $ | 31,735 | |||||
Net loss attributable to noncontrolling interests | – | – | -174 | – | -174 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 31,909 | $ | 70,990 | $ | -3,789 | $ | -67,201 | $ | 31,909 | |||||
Comprehensive income (loss) | $ | 31,005 | $ | 69,771 | $ | -3,964 | $ | -65,982 | $ | 30,830 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | -114 | – | -114 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 31,005 | $ | 69,771 | $ | -3,850 | $ | -65,982 | $ | 30,944 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTEEN WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 192,767 | $ | 512,952 | $ | 42,437 | $ | -52,171 | $ | 695,985 | |||||
Cost of goods sold | 144,270 | 291,940 | 32,611 | -52,171 | 416,650 | ||||||||||
Gross profit | 48,497 | 221,012 | 9,826 | – | 279,335 | ||||||||||
Selling and administrative expenses | 55,773 | 182,963 | -2,540 | – | 236,196 | ||||||||||
Restructuring and other special charges, net | 1,522 | 624 | – | – | 2,146 | ||||||||||
Equity in (earnings) loss of subsidiaries | -31,323 | -10,031 | – | 41,354 | – | ||||||||||
Operating earnings (loss) | 22,525 | 47,456 | 12,366 | -41,354 | 40,993 | ||||||||||
Interest expense | -5,301 | -97 | – | – | -5,398 | ||||||||||
Interest income | – | 61 | 15 | – | 76 | ||||||||||
Intercompany interest income (expense) | 3,040 | -3,147 | 107 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 20,264 | 44,273 | 12,488 | -41,354 | 35,671 | ||||||||||
Income tax benefit (provision) | 3,101 | -12,402 | -2,117 | – | -11,418 | ||||||||||
Net earnings (loss) from continuing operations | 23,365 | 31,871 | 10,371 | -41,354 | 24,253 | ||||||||||
Discontinued operations: | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax | 927 | -548 | -345 | – | 34 | ||||||||||
Net earnings (loss) from discontinued operations | 927 | -548 | -345 | – | 34 | ||||||||||
Net earnings (loss) | 24,292 | 31,323 | 10,026 | -41,354 | 24,287 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -5 | – | -5 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 24,292 | $ | 31,323 | $ | 10,031 | $ | -41,354 | $ | 24,292 | |||||
Comprehensive income (loss) | $ | 24,842 | $ | 31,872 | $ | 10,018 | $ | -41,348 | $ | 25,384 | |||||
Comprehensive loss attributable to noncontrolling interests | – | – | 2 | – | 2 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 24,842 | $ | 31,872 | $ | 10,016 | $ | -41,348 | $ | 25,382 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net sales | $ | 529,074 | $ | 1,347,548 | $ | 133,405 | $ | -150,966 | $ | 1,859,061 | |||||
Cost of goods sold | 403,710 | 756,549 | 108,525 | -150,966 | 1,117,818 | ||||||||||
Gross profit | 125,364 | 590,999 | 24,880 | – | 741,243 | ||||||||||
Selling and administrative expenses | 138,732 | 512,516 | 8,129 | – | 659,377 | ||||||||||
Restructuring and other special charges, net | 9,796 | 9,864 | – | – | 19,660 | ||||||||||
Impairment of intangible assets | – | – | – | – | – | ||||||||||
Equity in (earnings) loss of subsidiaries | -46,492 | -12,873 | – | 59,365 | – | ||||||||||
Operating earnings (loss) | 23,328 | 81,492 | 16,751 | -59,365 | 62,206 | ||||||||||
Interest expense | -16,800 | -279 | – | – | -17,079 | ||||||||||
Interest income | – | 185 | 51 | – | 236 | ||||||||||
Intercompany interest income (expense) | 9,569 | -9,889 | 320 | – | – | ||||||||||
Earnings (loss) before income taxes from continuing operations | 16,097 | 71,509 | 17,122 | -59,365 | 45,363 | ||||||||||
Income tax benefit (provision) | 10,308 | -22,303 | -3,280 | – | -15,275 | ||||||||||
Net earnings (loss) from continuing operations | 26,405 | 49,206 | 13,842 | -59,365 | 30,088 | ||||||||||
Discontinued operations: | |||||||||||||||
Loss from discontinued operations, net of tax | -2,953 | -2,714 | -1,220 | – | -6,887 | ||||||||||
Net loss from discontinued operations | -2,953 | -2,714 | -1,220 | – | -6,887 | ||||||||||
Net earnings (loss) | 23,452 | 46,492 | 12,622 | -59,365 | 23,201 | ||||||||||
Net loss attributable to noncontrolling interests | – | – | -251 | – | -251 | ||||||||||
Net earnings (loss) attributable to Brown Shoe Company, Inc. | $ | 23,452 | $ | 46,492 | $ | 12,873 | $ | -59,365 | $ | 23,452 | |||||
Comprehensive income (loss) | $ | 23,422 | 46,954 | 12,617 | -59,573 | 23,420 | |||||||||
Comprehensive loss attributable to noncontrolling interests | – | – | -248 | – | -248 | ||||||||||
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | $ | 23,422 | $ | 46,954 | $ | 12,865 | $ | -59,573 | $ | 23,668 | |||||
Schedule Of Condensed Consolidating Statement Of Cash Flows | ' | ||||||||||||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net cash provided by (used for) operating activities | $ | 27,271 | $ | 60,573 | $ | -25,859 | $ | – | $ | 61,985 | |||||
Investing activities | |||||||||||||||
Purchases of property and equipment | -3,389 | -33,737 | -762 | – | -37,888 | ||||||||||
Capitalized software | -3,591 | -117 | -7 | – | -3,715 | ||||||||||
Intercompany investing | -1,024 | 1,024 | – | – | – | ||||||||||
Proceeds from sale of subsidiaries, net of cash balance | – | 69,347 | – | – | 69,347 | ||||||||||
Net cash (used for) provided by investing activities | -8,004 | 36,517 | -769 | – | 27,744 | ||||||||||
Financing activities | |||||||||||||||
Borrowings under revolving credit agreement | 966,000 | – | – | – | 966,000 | ||||||||||
Repayments under revolving credit agreement | -1,071,000 | – | – | – | -1,071,000 | ||||||||||
Dividends paid | -9,073 | – | – | – | -9,073 | ||||||||||
Issuance of common stock under share-based plans, net | -2,406 | – | – | – | -2,406 | ||||||||||
Tax benefit related to share-based plans | 2,581 | – | – | – | 2,581 | ||||||||||
Intercompany financing | 94,631 | -97,780 | 3,149 | – | – | ||||||||||
Net cash (used for) provided by financing activities | -19,267 | -97,780 | 3,149 | – | -113,898 | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | – | -1,648 | – | – | -1,648 | ||||||||||
Decrease in cash and cash equivalents | – | -2,338 | -23,479 | – | -25,817 | ||||||||||
Cash and cash equivalents at beginning of period | – | 32,060 | 36,163 | – | 68,223 | ||||||||||
Cash and cash equivalents at end of period | $ | – | $ | 29,722 | $ | 12,684 | $ | – | $ | 42,406 | |||||
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012 | |||||||||||||||
Non- | |||||||||||||||
($ thousands) | Parent | Guarantors | Guarantors | Eliminations | Total | ||||||||||
Net cash provided by (used for) operating activities | $ | 19,306 | $ | -53,096 | $ | 177,313 | $ | – | $ | 143,523 | |||||
Investing activities | |||||||||||||||
Purchases of property and equipment | -3,809 | -33,602 | -1,670 | – | -39,081 | ||||||||||
Capitalized software | -5,433 | – | -3 | – | -5,436 | ||||||||||
Acquisition cost | – | -5,000 | – | – | -5,000 | ||||||||||
Net cash used for investing activities | -9,242 | -38,602 | -1,673 | – | -49,517 | ||||||||||
Financing activities | |||||||||||||||
Borrowings under revolving credit agreement | 582,000 | – | – | – | 582,000 | ||||||||||
Repayments under revolving credit agreement | -673,000 | – | – | – | -673,000 | ||||||||||
Dividends paid | -9,007 | – | – | – | -9,007 | ||||||||||
Issuance of common stock under share-based plans, net | -1,860 | – | – | – | -1,860 | ||||||||||
Tax benefit related to share-based plans | 889 | – | – | – | 889 | ||||||||||
Intercompany financing | 95,300 | 86,305 | -181,605 | – | – | ||||||||||
Net cash (used for) provided by financing activities | -5,678 | 86,305 | -181,605 | – | -100,978 | ||||||||||
Effect of exchange rate changes on cash and cash equivalents | – | 174 | – | – | 174 | ||||||||||
Increase (decrease) in cash and cash equivalents | 4,386 | -5,219 | -5,965 | – | -6,798 | ||||||||||
Cash and cash equivalents at beginning of period | -4,386 | 34,332 | 17,736 | – | 47,682 | ||||||||||
Cash and cash equivalents at end of period | $ | – | $ | 29,113 | $ | 11,771 | $ | – | $ | 40,884 | |||||
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 14, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Nov. 02, 2013 | 14-May-13 | Nov. 02, 2013 | Nov. 02, 2013 |
Promissory Note [Member] | Promissory Note [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | Etienne Aigner [Member] | |||||
Promissory Note [Member] | |||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $74 | ' | ' |
Proceeds from business disposition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.3 | ' | ' | ' |
Note receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' |
Note receivable, due date | ' | ' | ' | ' | ' | 14-Nov-13 | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' |
Payment received | ' | ' | ' | ' | 12.2 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on sale | ' | ' | ' | ' | ' | ' | 1 | 1 | -12.6 | ' | ' | ' | ' |
Gain (loss) on sale after-tax | ' | ' | -11.5 | ' | ' | ' | 1 | ' | -12.6 | ' | ' | ' | ' |
Gain (loss) on sale per diluted share | ' | ' | ' | ' | ' | ' | $0.02 | ' | ($0.30) | ' | ' | ' | ' |
Net sales | 1.2 | 36.2 | 25.5 | 98.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings (loss) before income taxes | 0.3 | ' | -10.8 | -11.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.50 |
Discontinued_Operations_Schedu
Discontinued Operations (Schedule Of Assets And Liabilities Reported As Discontinued Operations) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Discontinued Operations [Abstract] | ' | ' | ' |
Receivables, net | $73 | $14,291 | $25,043 |
Inventories, net | 75 | 29,587 | 27,153 |
Prepaid expenses and other current assets | 33 | 3,231 | 4,169 |
Total current assets | 181 | 47,109 | 56,365 |
Other assets | ' | 419 | 530 |
Goodwill | ' | 25,650 | 25,650 |
Intangible assets, net | ' | 27,275 | 27,508 |
Property and equipment, net | ' | 1,233 | 1,066 |
Total assets | 181 | 101,686 | 111,119 |
Trade accounts payable | 178 | 9,082 | 9,566 |
Other accrued expenses | 1,932 | 4,177 | 4,369 |
Total current liabilities | 2,110 | 13,259 | 13,935 |
Other liabilities | ' | 6,996 | 7,203 |
Total liabilities | $2,110 | $20,255 | $21,138 |
Dispositions_Narrative_Details
Dispositions (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||
Nov. 02, 2013 | 4-May-13 | Nov. 02, 2013 | Nov. 02, 2013 | 4-May-13 | Aug. 03, 2013 | Aug. 03, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Aug. 03, 2013 | Nov. 02, 2013 | Apr. 30, 2013 | Nov. 02, 2013 | Apr. 30, 2013 | Nov. 02, 2013 | |
item | Supply Chain and Sourcing Assets [Member] | Supply Chain and Sourcing Assets [Member] | Scenario, Forecast [Member] | Cash [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | 1st Installment Payment [Member] | 1st Installment Payment [Member] | Subsequent Quarterly Installment Payments [Member] | Subsequent Quarterly Installment Payments [Member] | Subsequent Quarterly Installment Payments [Member] | |||
Scenario, Forecast [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | Promissory Note [Member] | |||||||||
Assets Held For Sale [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | Scenario, Forecast [Member] | |||||||||||||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale price of certain supply chain and sourcing assets, aggregate amount | ' | ' | ' | ' | ' | $9,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sale of manufacturing facilities | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | ' |
Installments time frame after closing date | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | '45 days | ' | '3 months | ' | ' |
Notes receivable collection | ' | ' | ' | ' | ' | ' | ' | 600,000 | 3,600,000 | ' | ' | ' | 3,000,000 | ' | ' | 600,000 |
Number of quarterly payments | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promissory note interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' |
Purchase commitment, quantity of pairs of shoes each year | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase commitment, number of years | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale | ' | 4,700,000 | 4,660,000 | 600,000 | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale after tax | ' | $4,700,000 | ' | $600,000 | $4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale per diluted share | ' | $0.11 | ' | $0.01 | $0.11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Loss_Per_Share_Detail
Earnings (Loss) Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Earnings (Loss) Per Share [Abstract] | ' | ' | ' | ' |
Net earnings from continuing operations | $27,051 | $24,253 | $48,031 | $30,088 |
Net loss attributable to noncontrolling interests | 30 | 5 | 174 | 251 |
Net earnings allocated to participating securities | -1,097 | -1,210 | -2,098 | -1,505 |
Net earnings from continuing operations | 25,984 | 23,048 | 46,107 | 28,834 |
Net earnings (loss) from discontinued operations | 233 | 34 | -16,296 | -6,887 |
Net earnings allocated to participating securities | -9 | -2 | 712 | 339 |
Net earnings (loss) from discontinued operations | 224 | 32 | -15,584 | -6,548 |
Net earnings attributable to Brown Shoe Company, Inc. after allocation of earnings to participating securities | $26,208 | $23,080 | $30,523 | $22,286 |
Denominator for basic continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,447,000 | 40,745,000 | 41,288,000 | 40,618,000 |
Dilutive effect of share-based awards for continuing operations and discontinued operations | 319,000 | 190,000 | 283,000 | 103,000 |
Denominator for diluted continuing and discontinued earnings per common share attributable to Brown Shoe Company, Inc. shareholders | 41,766,000 | 40,935,000 | 41,571,000 | 40,721,000 |
Basic earnings (loss) per common share: From continuing operations | $0.63 | $0.57 | $1.12 | $0.71 |
Basic earnings (loss) per common share: From discontinued operations | ' | ' | ($0.38) | ($0.16) |
Basic earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $0.63 | $0.57 | $0.74 | $0.55 |
Diluted earnings (loss) per common share: From continuing operations | $0.62 | $0.56 | $1.11 | $0.71 |
Diluted earnings (loss) per common share: From discontinued operations | $0.01 | ' | ($0.38) | ($0.16) |
Diluted earnings per common share attributable to Brown Shoe Company, Inc. shareholders | $0.63 | $0.56 | $0.73 | $0.55 |
Options to purchase common stock, not included in computation of diluted earnings per common share | 86,247 | 567,966 | 214,403 | 1,019,565 |
Restructuring_Initiatives_Narr
Restructuring Initiatives (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | $0 | $2,600,000 | $30,700,000 | $27,000,000 |
Other Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Organizational change costs | ' | ' | ' | 2,300,000 |
Organizational change costs after tax | ' | ' | ' | 1,400,000 |
Organizational change costs per diluted share | ' | ' | ' | $0.03 |
Continuing Operations [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | ' | 2,300,000 | 5,900,000 | 18,900,000 |
Continuing Operations [Member] | Wholesale Operations Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | 1,500,000 | ' | 5,900,000 | 6,500,000 |
Continuing Operations [Member] | Famous Footwear [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | 400,000 | ' | ' | 7,700,000 |
Continuing Operations [Member] | Specialty Retail Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | 300,000 | ' | ' | 3,900,000 |
Continuing Operations [Member] | Other Segment [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | 100,000 | ' | ' | 800,000 |
Discontinued Operations [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Portfolio realignment costs | ' | 300,000 | 24,800,000 | 8,100,000 |
Discontinued Operations [Member] | American Sporting Goods Corporation [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Integration costs | ' | ' | ' | 700,000 |
Integration costs after-tax | ' | ' | ' | $400,000 |
Integration costs per diluted share | ' | ' | ' | $0.01 |
Restructuring_Initiatives_Port
Restructuring Initiatives (Portfolio Realignment Expense (Income) For Continuing And Discontinued Operations) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Restructuring and Related Cost [Abstract] | ' | ' | ' | ' |
Total | $0 | $2,600,000 | $30,700,000 | $27,000,000 |
Total, after tax | ' | 1,600,000 | 23,400,000 | 17,400,000 |
Total, per diluted share | ' | $0.04 | $0.54 | $0.41 |
Continuing Operations [Member] | ' | ' | ' | ' |
Restructuring and Related Cost [Abstract] | ' | ' | ' | ' |
Business exits and cost reductions | ' | 2,300,000 | 1,200,000 | 18,900,000 |
Business exits and cost reductions after-tax | ' | 1,400,000 | 800,000 | 12,400,000 |
Business exits and cost reductions per diluted share | ' | $0.04 | $0.02 | $0.29 |
Non-cash impairments/dispositions | ' | ' | 4,700,000 | ' |
Non-cash impairments/dispositions after-tax | ' | ' | 4,700,000 | ' |
Non-cash impairments/dispositions per diluted share | ' | ' | $0.11 | ' |
Total | ' | 2,300,000 | 5,900,000 | 18,900,000 |
Total, after tax | ' | 1,400,000 | 5,500,000 | 12,400,000 |
Total, per diluted share | ' | $0.04 | $0.13 | $0.29 |
Discontinued Operations [Member] | ' | ' | ' | ' |
Restructuring and Related Cost [Abstract] | ' | ' | ' | ' |
Business exits and cost reductions | ' | 300,000 | 13,300,000 | 8,100,000 |
Business exits and cost reductions after-tax | ' | 200,000 | 6,400,000 | 5,000,000 |
Business exits and cost reductions per diluted share | ' | ' | $0.13 | $0.12 |
Non-cash impairments/dispositions | ' | ' | 11,500,000 | ' |
Non-cash impairments/dispositions after-tax | ' | ' | 11,500,000 | ' |
Non-cash impairments/dispositions per diluted share | ' | ' | $0.28 | ' |
Total | ' | 300,000 | 24,800,000 | 8,100,000 |
Total, after tax | ' | $200,000 | $17,900,000 | $5,000,000 |
Total, per diluted share | ' | ' | $0.41 | $0.12 |
Restructuring_Initiatives_Summ
Restructuring Initiatives (Summary Of The Charges And Settlements By Category Of Costs) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Feb. 02, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | $5 | $11.50 | $5.50 | $10 |
Additional charges (recoveries) | ' | 1.8 | 28.8 | 29.9 |
Amounts settled | -1.2 | -8.3 | -22.8 | -34.4 |
Reserve balance | 3.8 | 5 | 11.5 | 5.5 |
Employee [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 2.4 | 1.1 | 1.7 | 5.8 |
Additional charges (recoveries) | ' | 2.3 | 0.4 | 6 |
Amounts settled | -0.3 | -1 | -1 | -10.1 |
Reserve balance | 2.1 | 2.4 | 1.1 | 1.7 |
Markdowns And Royalty Shortfalls [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 0.3 | 0.4 | 0.2 | 1.6 |
Additional charges (recoveries) | ' | -0.4 | 3 | 3.1 |
Amounts settled | -0.3 | 0.3 | -2.8 | -4.5 |
Reserve balance | ' | 0.3 | 0.4 | 0.2 |
Facility [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 2 | 2.6 | 3.3 | 1.3 |
Additional charges (recoveries) | ' | ' | 0.1 | 11.4 |
Amounts settled | -0.3 | -0.6 | -0.8 | -9.4 |
Reserve balance | 1.7 | 2 | 2.6 | 3.3 |
Other [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 0.3 | 7.4 | 0.3 | 1.3 |
Additional charges (recoveries) | ' | -0.1 | 25.3 | 9.4 |
Amounts settled | -0.3 | -7 | -18.2 | -10.4 |
Reserve balance | ' | 0.3 | 7.4 | 0.3 |
Continuing Operations [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 2.4 | 3.5 | 5.3 | 10 |
Additional charges (recoveries) | ' | 0.7 | 5.2 | 21.9 |
Amounts settled | -0.4 | -1.8 | -7 | -26.6 |
Reserve balance | 2 | 2.4 | 3.5 | 5.3 |
Discontinued Operations [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Reserve balance | 2.6 | 8 | 0.2 | ' |
Additional charges (recoveries) | ' | 1.1 | 23.6 | 8 |
Amounts settled | -0.8 | -6.5 | -15.8 | -7.8 |
Reserve balance | $1.80 | $2.60 | $8 | $0.20 |
Business_Segment_Information_S
Business Segment Information (Schedule Of Business Segment Information) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
External sales | $702,788 | $695,985 | $1,913,150 | $1,859,061 | ' |
Intersegment sales | 51,886 | 58,353 | 154,029 | 161,170 | ' |
Operating earnings (loss) | 44,668 | 40,993 | 88,438 | 62,206 | ' |
Segment assets - continuing operations | 1,086,911 | 1,164,104 | 1,086,911 | 1,164,104 | 1,171,259 |
Continuing Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment assets - continuing operations | 1,086,730 | 1,052,985 | 1,086,730 | 1,052,985 | ' |
Famous Footwear [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
External sales | 439,605 | 436,812 | 1,180,143 | 1,134,237 | ' |
Intersegment sales | 543 | 505 | 1,753 | 1,529 | ' |
Operating earnings (loss) | 37,047 | 35,525 | 95,057 | 74,365 | ' |
Famous Footwear [Member] | Continuing Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment assets - continuing operations | 485,217 | 462,904 | 485,217 | 462,904 | ' |
Wholesale Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
External sales | 205,269 | 196,371 | 567,334 | 551,896 | ' |
Intersegment sales | 51,343 | 57,848 | 152,276 | 159,641 | ' |
Operating earnings (loss) | 16,782 | 15,169 | 28,085 | 25,833 | ' |
Wholesale Operations [Member] | Continuing Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment assets - continuing operations | 379,249 | 387,720 | 379,249 | 387,720 | ' |
Specialty Retail [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
External sales | 57,914 | 62,802 | 165,673 | 172,928 | ' |
Intersegment sales | ' | ' | ' | ' | ' |
Operating earnings (loss) | 221 | 1,771 | -2,934 | -7,551 | ' |
Specialty Retail [Member] | Continuing Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment assets - continuing operations | 93,747 | 59,805 | 93,747 | 59,805 | ' |
Other Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
External sales | ' | ' | ' | ' | ' |
Intersegment sales | ' | ' | ' | ' | ' |
Operating earnings (loss) | -9,382 | -11,472 | -31,770 | -30,441 | ' |
Other Segment [Member] | Continuing Operations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Segment assets - continuing operations | $128,517 | $142,556 | $128,517 | $142,556 | ' |
Business_Segment_Information_S1
Business Segment Information (Schedule Of Reconciliation Of Operating Earnings Before Income Taxes From Continuing Operations) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Business Segment Information [Abstract] | ' | ' | ' | ' |
Operating earnings | $44,668 | $40,993 | $88,438 | $62,206 |
Interest expense | -5,254 | -5,398 | -16,167 | -17,079 |
Interest income | 132 | 76 | 282 | 236 |
Earnings before income taxes from continuing operations | $39,546 | $35,671 | $72,553 | $45,363 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Nov. 02, 2013 | |
Primarily Owned and Licensed Trademarks [Member] | Primarily Owned and Licensed Trademarks [Member] | Primarily Owned and Licensed Trademarks [Member] | Primarily Owned and Licensed Trademarks [Member] | Minimum [Member] | Maximum [Member] | ||||
Goodwill And Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets not subject to amortization | $21,000,000 | $21,000,000 | $21,000,000 | ' | ' | ' | ' | ' | ' |
Intangible assets, estimated useful lives | ' | ' | ' | ' | ' | ' | ' | '4 years | '20 years |
Amortization expense related to intangible assets | $4,741,000 | $5,436,000 | ' | $1,500,000 | $1,500,000 | $4,500,000 | $4,600,000 | ' | ' |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Schedule Of Goodwill And Intangible Assets) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total intangible assets | $121,003 | $121,003 | $121,003 |
Accumulated amortization | -59,776 | -55,254 | -53,738 |
Total intangible assets, net | 61,227 | 65,749 | 67,265 |
Goodwill | 13,954 | 13,954 | 13,954 |
Goodwill and intangible assets, net | 75,181 | 79,703 | 81,219 |
Famous Footwear [Member] | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total intangible assets | 2,800 | 2,800 | 2,800 |
Wholesale Operations [Member] | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total intangible assets | 118,003 | 118,003 | 118,003 |
Goodwill | 13,954 | 13,954 | 13,954 |
Specialty Retail [Member] | ' | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' | ' |
Total intangible assets | $200 | $200 | $200 |
Shareholders_Equity_Schedule_O
Shareholders' Equity (Schedule Of Changes In Shareholders' Equity And Noncontrolling Interests) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Equity, beginning balance | ' | ' | $425,901 | ' |
Net earnings (loss) | 27,284 | 24,287 | 31,735 | 23,201 |
Other comprehensive (loss) income | 6 | ' | -905 | ' |
Issuance of common stock under share-based plans, net | ' | ' | -2,406 | -1,860 |
Share-based compensation expense | 1,100 | 1,500 | 4,066 | 4,776 |
Equity, ending balance | 451,959 | 431,937 | 451,959 | 431,937 |
Brown Shoe Company, Inc. Shareholders' Equity [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Equity, beginning balance | ' | ' | 425,129 | 412,669 |
Net earnings (loss) | ' | ' | 31,909 | 23,452 |
Other comprehensive (loss) income | ' | ' | -905 | 219 |
Dividends paid | ' | ' | -9,073 | -9,007 |
Issuance of common stock under share-based plans, net | ' | ' | -2,406 | -1,860 |
Tax benefit related to share-based plans | ' | ' | 2,581 | 889 |
Share-based compensation expense | ' | ' | 4,066 | 4,776 |
Equity, ending balance | 451,301 | 431,138 | 451,301 | 431,138 |
Noncontrolling Interests [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Equity, beginning balance | ' | ' | 772 | 1,047 |
Net earnings (loss) | ' | ' | -174 | -251 |
Other comprehensive (loss) income | ' | ' | 60 | 3 |
Equity, ending balance | 658 | 799 | 658 | 799 |
Total Equity [Member] | ' | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' | ' |
Equity, beginning balance | ' | ' | 425,901 | 413,716 |
Net earnings (loss) | ' | ' | 31,735 | 23,201 |
Other comprehensive (loss) income | ' | ' | -845 | 222 |
Dividends paid | ' | ' | -9,073 | -9,007 |
Issuance of common stock under share-based plans, net | ' | ' | -2,406 | -1,860 |
Tax benefit related to share-based plans | ' | ' | 2,581 | 889 |
Share-based compensation expense | ' | ' | 4,066 | 4,776 |
Equity, ending balance | $451,959 | $431,937 | $451,959 | $431,937 |
Shareholders_Equity_Schedule_O1
Shareholders' Equity (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Nov. 02, 2013 | Oct. 27, 2012 |
Shareholders' Equity [Line Items] | ' | ' | ' |
Balance, beginning | ($27) | $884 | $9,856 |
Other comprehensive (loss) income before reclassifications | -21 | -976 | ' |
Amounts reclassified from accumulated other comprehensive (loss) income | 27 | 71 | ' |
Other comprehensive (loss) income | 6 | -905 | ' |
Balance, ending | -21 | -21 | 9,856 |
Accumulated Currency Translation [Member] | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' |
Balance, beginning | 5,322 | 6,912 | ' |
Other comprehensive (loss) income before reclassifications | -100 | -1,690 | ' |
Other comprehensive (loss) income | -100 | -1,690 | ' |
Balance, ending | 5,222 | 5,222 | ' |
Accumulated Derivative Transactions [Member] | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' |
Balance, beginning | 317 | -81 | ' |
Other comprehensive (loss) income before reclassifications | 79 | 714 | ' |
Amounts reclassified from accumulated other comprehensive (loss) income | -111 | -348 | ' |
Other comprehensive (loss) income | -32 | 366 | ' |
Balance, ending | 285 | 285 | ' |
Accumulated Postretirement Transactions [Member] | ' | ' | ' |
Shareholders' Equity [Line Items] | ' | ' | ' |
Balance, beginning | -5,666 | -5,947 | ' |
Amounts reclassified from accumulated other comprehensive (loss) income | 138 | 419 | ' |
Other comprehensive (loss) income | 138 | 419 | ' |
Balance, ending | ($5,528) | ($5,528) | ' |
Shareholders_Equity_Schedule_O2
Shareholders' Equity (Schedule Of Items Reclassified Out Of Accumulated Other Comprehensive (Loss) Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Nov. 02, 2013 |
Shareholders' Equity [Line Items] | ' | ' |
Net gains from derivative financial instruments | ($111) | ($348) |
Pension and other postretirement benefits actuarial loss | 135 | 412 |
Pension benefits prior service expense | 3 | 7 |
Total reclassifications out of accumulated other comprehensive (loss) income | 27 | 71 |
Derivative Transactions [Member] | ' | ' |
Shareholders' Equity [Line Items] | ' | ' |
Net gains from derivative financial instruments | -168 | -530 |
Total reclassifications out of accumulated other comprehensive (loss) income | -168 | -530 |
Postretirement Transactions [Member] | ' | ' |
Shareholders' Equity [Line Items] | ' | ' |
Pension and other postretirement benefits actuarial loss | 216 | 661 |
Pension benefits prior service expense | 4 | 10 |
Total reclassifications out of accumulated other comprehensive (loss) income | 220 | 671 |
Tax Effect [Member] | ' | ' |
Shareholders' Equity [Line Items] | ' | ' |
Net gains from derivative financial instruments | 57 | 182 |
Pension and other postretirement benefits actuarial loss | -81 | -249 |
Pension benefits prior service expense | -1 | -3 |
Total reclassifications out of accumulated other comprehensive (loss) income | ($25) | ($70) |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | $1,100 | $1,500 | $4,066 | $4,776 |
Shares of common stock issued during the period | 54,369 | ' | 698,580 | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of stock shares granted | 12,300 | ' | ' | ' |
Weighted-average grant date fair value of stock | $22.90 | ' | ' | ' |
Vesting period, in years | ' | ' | '4 years | ' |
Cancelled shares of stock as a result of forfeitures of restricted stock awards | 65,750 | ' | 150,250 | ' |
Non-Employee Directors [Member] | Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of stock shares granted | 1,023 | ' | ' | ' |
Weighted-average grant date fair value of stock | $23.57 | ' | ' | ' |
Retirement_And_Other_Benefit_P2
Retirement And Other Benefit Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Pension Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $2,583 | $2,845 | $8,057 | $8,675 |
Interest cost | 3,305 | 3,182 | 9,940 | 9,546 |
Expected return on assets | -6,200 | -6,266 | -18,576 | -18,806 |
Amortization of Actuarial loss (gain) | 238 | 41 | 723 | 166 |
Amortization of Prior service expense (income) | 4 | 4 | 10 | 8 |
Amortization of Net transition asset | ' | -11 | ' | -33 |
Total net periodic benefit cost (income) | -70 | -205 | 154 | -444 |
Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Interest cost | 35 | 36 | 105 | 112 |
Amortization of Actuarial loss (gain) | -20 | -23 | -60 | -59 |
Total net periodic benefit cost (income) | $15 | $13 | $45 | $53 |
Risk_Management_And_Derivative2
Risk Management And Derivatives (Schedule Of Contract Net Amount Of All Purchase And Sale Contracts Of A Foreign Currency) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | $44,642 | $40,636 | $49,966 |
U.S. Dollars (Purchased By The Company's Canadian Division With Canadian Dollars) [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | 18,024 | 18,442 | 19,427 |
Chinese Yuan [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | 14,860 | 15,544 | 22,193 |
Euro [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | 8,729 | 3,459 | 4,784 |
Japanese Yen [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | 1,657 | 1,665 | 1,563 |
New Taiwanese Dollars [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | 633 | 734 | 935 |
Great Britain Pounds Sterling [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | ' | 63 | 211 |
Other Currencies [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Net contract amount of all purchase and sale contracts of a foreign currency | $739 | $729 | $853 |
Risk_Management_And_Derivative3
Risk Management And Derivatives (Schedule Of Fair Values Of Derivative Instruments Designated As Hedging Instruments Included Within The Condensed Consolidated Balance Sheet) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Asset Derivatives, Fair Value | $417 | $380 | $189 |
Other Accrued Expenses [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Liability Derivatives, Fair Value | $184 | $373 | $438 |
Risk_Management_And_Derivative4
Risk Management And Derivatives (Schedule Of Effect Of Derivative Instruments In Cash Flow Hedging Relationships On The Condensed Consolidated Statements Of Earnings) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Net Sales [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives | $161 | $16 | $278 | $37 |
(Loss) Gain Reclassified from Accumulated OCI into Earnings | 59 | -26 | 207 | -12 |
Cost Of Goods Sold [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives | -163 | 204 | 382 | -672 |
(Loss) Gain Reclassified from Accumulated OCI into Earnings | 24 | -187 | 51 | -265 |
Selling And Administrative Expenses [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives | 145 | 423 | 354 | -49 |
(Loss) Gain Reclassified from Accumulated OCI into Earnings | 85 | 11 | 272 | 40 |
Interest Expense [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in OCI on Derivatives | -3 | ' | 8 | -7 |
(Loss) Gain Reclassified from Accumulated OCI into Earnings | ' | ' | ' | ' |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | ||||||||
Nov. 02, 2013 | 4-May-13 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Nov. 02, 2013 | |
Famous Footwear Segment [Member] | Specialty Retail Segment [Member] | Minimum [Member] | Maximum [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | American Sporting Goods Corporation [Member] | Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferral percentage of base salary | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage component of compensation allowed as deferral under deferred compensation plan | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Period of cash payment for annual installments of non-employee director deferred compensation | ' | ' | ' | ' | ' | '5 years | '10 years | ' | ' | ' | ' |
Long-lived assets held for use | $84,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charge of long-lived assets | 100,000 | ' | 800,000 | 400,000 | 400,000 | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale | ' | 4,700,000 | 4,660,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale after tax | ' | 4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of assets held for sale per diluted share | ' | $0.11 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on sale of assets | ' | ' | 11,512,000 | ' | ' | ' | ' | ' | ' | ' | 600,000 |
Gain (loss) on sale | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | $1,000,000 | ($12,600,000) | ' |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Cash Equivalents - Money Market Funds [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | $4,472 | $27,223 | $3,092 |
Cash Equivalents - Money Market Funds [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | 4,472 | 27,223 | 3,092 |
Cash Equivalents - Money Market Funds [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Cash Equivalents - Money Market Funds [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Non-Qualified Deferred Compensation Plan Assets [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | 2,081 | 1,411 | 1,272 |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | 2,081 | 1,411 | 1,272 |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Non-Qualified Deferred Compensation Plan Assets [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | -2,081 | -1,411 | -1,272 |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | -2,081 | -1,411 | -1,272 |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | ' | ' | ' |
Non-Qualified Deferred Compensation Plan Liabilities [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | ' | ' | ' |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | -1,565 | -1,139 | -1,022 |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | -1,565 | -1,139 | -1,022 |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | ' | ' | ' |
Deferred Compensation Plan Liabilities For Non-Employee Directors [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Liability, Fair Value | ' | ' | ' |
Derivative Financial Instruments, Net [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | 233 | 7 | ' |
Liability, Fair Value | ' | ' | -249 |
Derivative Financial Instruments, Net [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Derivative Financial Instruments, Net [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | 233 | 7 | ' |
Liability, Fair Value | ' | ' | -249 |
Derivative Financial Instruments, Net [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Asset, Fair Value | ' | ' | ' |
Liability, Fair Value | ' | ' | ' |
Fair_Value_Measurements_Schedu1
Fair Value Measurements (Schedule Of Fair Value Of Financial Instruments) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value Measurements [Abstract] | ' | ' | ' |
Senior Notes, Carrying Amount | $198,963 | $198,823 | $198,773 |
Senior Notes, Fair Value | $210,500 | $208,000 | $204,000 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Income Taxes [Abstract] | ' | ' | ' | ' |
Consolidated effective tax rate | 31.60% | 32.00% | 33.80% | 33.70% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
B&H Footwear [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Sales to related parties | $1.90 | $2.40 | $4.10 | $5 |
Hongguo International Holdings Limited [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Joint venture, ownership percentage | ' | ' | 49.00% | ' |
Brown Shoe Company, Inc. [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Joint venture, ownership percentage | ' | ' | 51.00% | ' |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Nov. 02, 2013 |
Redfield Site [Member] | ' |
Commitments And Contingencies [Line Items] | ' |
Liability for on-site remediation, discounted rate | 4.80% |
On-site remediation liability, undiscounted basis | $15.90 |
Expected on-site remediation liability, year one | 0.2 |
Expected on-site remediation liability, year two | 0.2 |
Expected on-site remediation liability, year three | 0.2 |
Expected on-site remediation liability, year four | 0.2 |
Expected on-site remediation liability, year five | 0.2 |
Expected on-site remediation liability, thereafter | 14.9 |
Cumulative expenditures for both on-site and off-site remediation | 27 |
Reserve for anticipated future remediation activities | 8.4 |
Reserve for anticipated future remediation activities for on-site remediation | 4.8 |
Reserve for anticipated future remediation activities for off-site remediation | 3.6 |
Redfield Site Other Accrued Expense [Member] | ' |
Commitments And Contingencies [Line Items] | ' |
Accrual for environmental loss contingencies in other accrued expenses | 0.8 |
Redfield Site Other Liabilities [Member] | ' |
Commitments And Contingencies [Line Items] | ' |
Accrual for environmental loss contingencies in other liabilities | 7.6 |
New York Tannery And Two Associated Landfills [Member] | ' |
Commitments And Contingencies [Line Items] | ' |
Liability for on-site remediation, discounted rate | 6.40% |
Expected on-site remediation liability, year one | 0.2 |
Expected on-site remediation liability, year two | 0.2 |
Expected on-site remediation liability, year three | 0.2 |
Expected on-site remediation liability, year four | 0.2 |
Expected on-site remediation liability, year five | 0.2 |
Expected on-site remediation liability, thereafter | 1 |
Number of associated landfills for which remediation efforts are completed | 2 |
Accrued liability to complete the cleanup, maintenance and monitoring at all sites | 1.5 |
Accrued liability on an undiscounted basis | 2 |
Other Sites [Member] | ' |
Commitments And Contingencies [Line Items] | ' |
Accrued liability to complete the cleanup, maintenance and monitoring at all sites | 9.8 |
Accrual for environmental loss contingencies in other liabilities | 8.8 |
Accrual for environmental loss contingencies in other accrued expenses | $1 |
Financial_Information_For_The_2
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Balance Sheet) (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 | Oct. 27, 2012 | Jan. 28, 2012 |
In Thousands, unless otherwise specified | ||||
Percentage of Guarantors owned by Parent | 100.00% | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $42,406 | $68,223 | $40,884 | $47,682 |
Receivables, net | 112,491 | 111,392 | 113,519 | ' |
Inventories, net | 544,589 | 503,688 | 512,206 | ' |
Prepaid expenses and other current assets | 52,234 | 42,016 | 30,511 | ' |
Current assets – discontinued operations | 181 | 47,109 | 56,365 | ' |
Total current assets | 751,901 | 772,428 | 753,485 | ' |
Other assets | 111,647 | 119,695 | 134,664 | ' |
Goodwill and intangible assets, net | 75,181 | 79,703 | 81,219 | ' |
Noncurrent assets – discontinued operations | ' | 54,577 | 54,754 | ' |
Property and equipment, net | 148,182 | 144,856 | 139,982 | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Intercompany receivable | ' | ' | ' | ' |
Total assets | 1,086,911 | 1,171,259 | 1,164,104 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Borrowings under revolving credit agreement | ' | 105,000 | 110,000 | ' |
Trade accounts payable | 200,706 | 213,660 | 173,856 | ' |
Other accrued expenses | 151,142 | 137,190 | 145,687 | ' |
Current liabilities – discontinued operations | 2,110 | 13,259 | 13,935 | ' |
Total current liabilities | 353,958 | 469,109 | 443,478 | ' |
Other liabilities | ' | ' | ' | ' |
Long-term debt | 198,963 | 198,823 | 198,773 | ' |
Other liabilities | 82,031 | 70,430 | 82,713 | ' |
Intercompany payable | ' | ' | 7,203 | ' |
Noncurrent liabilities – discontinued operations | ' | 6,996 | 7,203 | ' |
Total other liabilities | 280,994 | 276,249 | 288,689 | ' |
Equity | ' | ' | ' | ' |
Brown Shoe Company, Inc. shareholders' equity | 451,301 | 425,129 | 431,138 | ' |
Noncontrolling interests | 658 | 772 | 799 | ' |
Total equity | 451,959 | 425,901 | 431,937 | ' |
Total liabilities and equity | 1,086,911 | 1,171,259 | 1,164,104 | ' |
Parent [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | -4,386 |
Receivables, net | 93,097 | 67,571 | 89,342 | ' |
Inventories, net | 98,548 | 92,683 | 73,175 | ' |
Prepaid expenses and other current assets | 37,418 | 14,523 | 22,219 | ' |
Current assets – discontinued operations | 158 | 5,447 | 16,868 | ' |
Total current assets | 229,221 | 180,224 | 201,604 | ' |
Other assets | 95,221 | 99,527 | 115,445 | ' |
Goodwill and intangible assets, net | 56,369 | 37,270 | 38,337 | ' |
Noncurrent assets – discontinued operations | ' | 1,145 | 1,185 | ' |
Property and equipment, net | 26,908 | 27,931 | 24,578 | ' |
Investment in subsidiaries | 851,906 | 765,729 | 862,308 | ' |
Intercompany receivable | 431,576 | 341,221 | 215,585 | ' |
Total assets | 1,691,201 | 1,453,047 | 1,459,042 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Borrowings under revolving credit agreement | ' | 105,000 | 110,000 | ' |
Trade accounts payable | 44,889 | 53,350 | 32,579 | ' |
Other accrued expenses | 58,289 | 51,751 | 41,432 | ' |
Current liabilities – discontinued operations | 2,065 | 3,754 | 6,746 | ' |
Total current liabilities | 105,243 | 213,855 | 190,757 | ' |
Other liabilities | ' | ' | ' | ' |
Long-term debt | 198,963 | 198,823 | 198,773 | ' |
Other liabilities | 29,395 | 17,042 | 34,398 | ' |
Intercompany payable | 906,299 | 598,198 | ' | ' |
Total other liabilities | 1,134,657 | 814,063 | 837,147 | ' |
Equity | ' | ' | ' | ' |
Brown Shoe Company, Inc. shareholders' equity | 451,301 | 425,129 | 431,138 | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 451,301 | 425,129 | 431,138 | ' |
Total liabilities and equity | 1,691,201 | 1,453,047 | 1,459,042 | ' |
Guarantors [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 29,722 | 32,060 | 29,113 | 34,332 |
Receivables, net | 1,275 | 6,593 | 5,863 | ' |
Inventories, net | 439,807 | 394,468 | 421,458 | ' |
Prepaid expenses and other current assets | 11,423 | 26,524 | 3,412 | ' |
Current assets – discontinued operations | ' | 41,553 | 39,465 | ' |
Total current assets | 482,227 | 501,198 | 499,311 | ' |
Other assets | 15,812 | 19,320 | 18,409 | ' |
Goodwill and intangible assets, net | 18,812 | 19,901 | 20,265 | ' |
Noncurrent assets – discontinued operations | ' | 3,980 | 1,595 | ' |
Property and equipment, net | 118,976 | 108,224 | 106,269 | ' |
Investment in subsidiaries | 152,992 | 91,136 | 234,014 | ' |
Intercompany receivable | 483,654 | 527,863 | 384,523 | ' |
Total assets | 1,272,473 | 1,271,622 | 1,264,386 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Trade accounts payable | 136,669 | 118,096 | 118,756 | ' |
Other accrued expenses | 83,483 | 78,293 | 89,006 | ' |
Current liabilities – discontinued operations | ' | 9,396 | 7,149 | ' |
Total current liabilities | 220,152 | 205,785 | 214,911 | ' |
Other liabilities | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other liabilities | 51,192 | 48,986 | 42,601 | ' |
Intercompany payable | 149,223 | 138,089 | ' | ' |
Total other liabilities | 200,415 | 187,075 | 187,167 | ' |
Equity | ' | ' | ' | ' |
Brown Shoe Company, Inc. shareholders' equity | 851,906 | 878,762 | 862,308 | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | 851,906 | 878,762 | 862,308 | ' |
Total liabilities and equity | 1,272,473 | 1,271,622 | 1,264,386 | ' |
Non-Guarantors [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 12,684 | 36,163 | 11,771 | 17,736 |
Receivables, net | 18,119 | 37,228 | 18,314 | ' |
Inventories, net | 6,234 | 16,537 | 17,573 | ' |
Prepaid expenses and other current assets | 3,393 | 969 | 4,880 | ' |
Current assets – discontinued operations | 23 | 109 | 32 | ' |
Total current assets | 40,453 | 91,006 | 52,570 | ' |
Other assets | 614 | 848 | 810 | ' |
Goodwill and intangible assets, net | ' | 22,532 | 22,617 | ' |
Noncurrent assets – discontinued operations | ' | 52,925 | 53,159 | ' |
Property and equipment, net | 2,298 | 8,701 | 9,135 | ' |
Investment in subsidiaries | ' | 113,033 | ' | ' |
Intercompany receivable | 233,841 | 183,372 | 174,894 | ' |
Total assets | 277,206 | 472,417 | 313,185 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Trade accounts payable | 19,148 | 42,214 | 22,521 | ' |
Other accrued expenses | 9,370 | 7,146 | 15,249 | ' |
Current liabilities – discontinued operations | 45 | 109 | 40 | ' |
Total current liabilities | 28,563 | 49,469 | 37,810 | ' |
Other liabilities | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other liabilities | 1,444 | 4,402 | 5,714 | ' |
Intercompany payable | 93,549 | 316,169 | 8,388 | ' |
Noncurrent liabilities – discontinued operations | ' | 10,469 | ' | ' |
Total other liabilities | 94,993 | 331,040 | 40,562 | ' |
Equity | ' | ' | ' | ' |
Brown Shoe Company, Inc. shareholders' equity | 152,992 | 91,136 | 234,014 | ' |
Noncontrolling interests | 658 | 772 | 799 | ' |
Total equity | 153,650 | 91,908 | 234,813 | ' |
Total liabilities and equity | 277,206 | 472,417 | 313,185 | ' |
Eliminations [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Receivables, net | ' | ' | ' | ' |
Inventories, net | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' |
Current assets – discontinued operations | ' | ' | ' | ' |
Total current assets | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' |
Goodwill and intangible assets, net | ' | ' | ' | ' |
Noncurrent assets – discontinued operations | ' | -3,473 | -1,185 | ' |
Property and equipment, net | ' | ' | ' | ' |
Investment in subsidiaries | -1,004,898 | -969,898 | -1,096,322 | ' |
Intercompany receivable | -1,149,071 | -1,052,456 | -775,002 | ' |
Total assets | -2,153,969 | -2,025,827 | -1,872,509 | ' |
Liabilities and Equity | ' | ' | ' | ' |
Trade accounts payable | ' | ' | ' | ' |
Other accrued expenses | ' | ' | ' | ' |
Current liabilities – discontinued operations | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other liabilities | ' | ' | ' | ' |
Intercompany payable | -1,149,071 | -1,052,456 | -1,185 | ' |
Noncurrent liabilities – discontinued operations | ' | -3,473 | ' | ' |
Total other liabilities | -1,149,071 | -1,055,929 | -776,187 | ' |
Equity | ' | ' | ' | ' |
Brown Shoe Company, Inc. shareholders' equity | -1,004,898 | -969,898 | -1,096,322 | ' |
Noncontrolling interests | ' | ' | ' | ' |
Total equity | -1,004,898 | -969,898 | -1,096,322 | ' |
Total liabilities and equity | ($2,153,969) | ($2,025,827) | ($1,872,509) | ' |
Financial_Information_For_The_3
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Statement Of Comprehensive Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Net sales | $702,788 | $695,985 | $1,913,150 | $1,859,061 |
Cost of goods sold | 424,548 | 416,650 | 1,140,268 | 1,117,818 |
Gross profit | 278,240 | 279,335 | 772,882 | 741,243 |
Selling and administrative expenses | 233,572 | 236,196 | 678,522 | 659,377 |
Restructuring and other special charges, net | ' | 2,146 | 1,262 | 19,660 |
Impairment of intangible assets | ' | ' | 4,660 | ' |
Equity in (earnings) loss of subsidiaries | ' | ' | ' | ' |
Operating earnings | 44,668 | 40,993 | 88,438 | 62,206 |
Interest expense | -5,254 | -5,398 | -16,167 | -17,079 |
Interest income | 132 | 76 | 282 | 236 |
Intercompany interest income (expense) | ' | ' | ' | ' |
Intercompany dividend | ' | ' | ' | ' |
Earnings before income taxes from continuing operations | 39,546 | 35,671 | 72,553 | 45,363 |
Income tax benefit (provision) | -12,495 | -11,418 | -24,522 | -15,275 |
Net (loss) earnings from continuing operations | 27,051 | 24,253 | 48,031 | 30,088 |
Loss (earnings) from discontinued operations, net of tax | 233 | 34 | -4,784 | -6,887 |
Impairment of net assets/disposition of discontinued operations | ' | ' | -11,512 | ' |
Net earnings (loss) from discontinued operations | 233 | 34 | -16,296 | -6,887 |
Net earnings | 27,284 | 24,287 | 31,735 | 23,201 |
Net loss attributable to noncontrolling interests | -30 | -5 | -174 | -251 |
Net earnings attributable to Brown Shoe Company, Inc. | 27,314 | 24,292 | 31,909 | 23,452 |
Comprehensive (loss) income | 27,290 | 25,384 | 30,830 | 23,420 |
Comprehensive (loss) income attributable to noncontrolling interest | -25 | 2 | -114 | -248 |
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | 27,315 | 25,382 | 30,944 | 23,668 |
Parent [Member] | ' | ' | ' | ' |
Net sales | 213,028 | 192,767 | 551,962 | 529,074 |
Cost of goods sold | 157,500 | 144,270 | 412,736 | 403,710 |
Gross profit | 55,528 | 48,497 | 139,226 | 125,364 |
Selling and administrative expenses | 53,327 | 55,773 | 169,097 | 138,732 |
Restructuring and other special charges, net | ' | 1,522 | 686 | 9,796 |
Equity in (earnings) loss of subsidiaries | -31,516 | -31,317 | -70,990 | -46,486 |
Operating earnings | 33,717 | 22,519 | 40,433 | 23,322 |
Interest expense | -5,254 | -5,301 | -16,076 | -16,800 |
Interest income | 4 | ' | 17 | ' |
Intercompany interest income (expense) | 3,558 | 3,040 | 10,487 | 9,569 |
Intercompany dividend | ' | ' | ' | ' |
Earnings before income taxes from continuing operations | 32,025 | 20,258 | 34,861 | 16,091 |
Income tax benefit (provision) | -5,011 | 3,101 | 2,630 | 10,308 |
Net (loss) earnings from continuing operations | 27,014 | 23,359 | 37,491 | 26,399 |
Loss (earnings) from discontinued operations, net of tax | 300 | 927 | -5,582 | -2,953 |
Net earnings (loss) from discontinued operations | 300 | 927 | -5,582 | -2,953 |
Net earnings | 27,314 | 24,286 | 31,909 | 23,446 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net earnings attributable to Brown Shoe Company, Inc. | 27,314 | 24,286 | 31,909 | 23,446 |
Comprehensive (loss) income | 27,320 | 24,842 | 31,005 | 23,422 |
Comprehensive (loss) income attributable to noncontrolling interest | ' | ' | ' | ' |
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | 27,320 | 24,842 | 31,005 | 23,422 |
Guarantors [Member] | ' | ' | ' | ' |
Net sales | 498,383 | 512,952 | 1,361,742 | 1,347,547 |
Cost of goods sold | 282,617 | 291,940 | 754,229 | 756,547 |
Gross profit | 215,766 | 221,012 | 607,513 | 591,000 |
Selling and administrative expenses | 178,810 | 182,963 | 504,351 | 512,516 |
Restructuring and other special charges, net | ' | 624 | 576 | 9,864 |
Equity in (earnings) loss of subsidiaries | 2,728 | -10,031 | 3,789 | -13,087 |
Operating earnings | 34,228 | 47,456 | 98,797 | 81,707 |
Interest expense | ' | -97 | -91 | -279 |
Interest income | 69 | 61 | 201 | 185 |
Intercompany interest income (expense) | -3,693 | -3,147 | -10,879 | -9,889 |
Intercompany dividend | 7,778 | ' | 7,778 | ' |
Earnings before income taxes from continuing operations | 38,382 | 44,273 | 95,806 | 71,724 |
Income tax benefit (provision) | -6,822 | -12,402 | -26,995 | -22,303 |
Net (loss) earnings from continuing operations | 31,560 | 31,871 | 68,811 | 49,421 |
Loss (earnings) from discontinued operations, net of tax | -44 | -548 | 1,137 | -2,714 |
Impairment of net assets/disposition of discontinued operations | ' | ' | 1,042 | ' |
Net earnings (loss) from discontinued operations | -44 | -548 | 2,179 | -2,714 |
Net earnings | 31,516 | 31,323 | 70,990 | 46,707 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net earnings attributable to Brown Shoe Company, Inc. | 31,516 | 31,323 | 70,990 | 46,707 |
Comprehensive (loss) income | 31,313 | 31,872 | 69,771 | 46,954 |
Comprehensive (loss) income attributable to noncontrolling interest | ' | ' | ' | ' |
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | 31,313 | 31,872 | 69,771 | 46,954 |
Non-Guarantors [Member] | ' | ' | ' | ' |
Net sales | 36,753 | 42,437 | 136,825 | 133,406 |
Cost of goods sold | 29,807 | 32,611 | 110,682 | 108,527 |
Gross profit | 6,946 | 9,826 | 26,143 | 24,879 |
Selling and administrative expenses | 1,435 | -2,540 | 5,074 | 8,129 |
Impairment of intangible assets | ' | ' | 4,660 | ' |
Equity in (earnings) loss of subsidiaries | ' | ' | ' | ' |
Operating earnings | 5,511 | 12,366 | 16,409 | 16,750 |
Interest expense | ' | ' | ' | ' |
Interest income | 59 | 15 | 64 | 51 |
Intercompany interest income (expense) | 135 | 107 | 392 | 320 |
Intercompany dividend | -7,778 | ' | -7,778 | ' |
Earnings before income taxes from continuing operations | -2,073 | 12,488 | 9,087 | 17,121 |
Income tax benefit (provision) | -662 | -2,117 | -157 | -3,280 |
Net (loss) earnings from continuing operations | -2,735 | 10,371 | 8,930 | 13,841 |
Loss (earnings) from discontinued operations, net of tax | -23 | -345 | -339 | -1,220 |
Impairment of net assets/disposition of discontinued operations | ' | ' | -12,554 | ' |
Net earnings (loss) from discontinued operations | -23 | -345 | -12,893 | -1,220 |
Net earnings | -2,758 | 10,026 | -3,963 | 12,621 |
Net loss attributable to noncontrolling interests | -30 | -5 | -174 | -251 |
Net earnings attributable to Brown Shoe Company, Inc. | -2,728 | 10,031 | -3,789 | 12,872 |
Comprehensive (loss) income | -2,758 | 10,018 | -3,964 | 12,617 |
Comprehensive (loss) income attributable to noncontrolling interest | -25 | 2 | -114 | -248 |
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | -2,733 | 10,016 | -3,850 | 12,865 |
Eliminations [Member] | ' | ' | ' | ' |
Net sales | -45,376 | -52,171 | -137,379 | -150,966 |
Cost of goods sold | -45,376 | -52,171 | -137,379 | -150,966 |
Gross profit | ' | ' | ' | ' |
Selling and administrative expenses | ' | ' | ' | ' |
Equity in (earnings) loss of subsidiaries | 28,788 | 41,348 | 67,201 | 59,573 |
Operating earnings | -28,788 | -41,348 | -67,201 | -59,573 |
Interest expense | ' | ' | ' | ' |
Interest income | ' | ' | ' | ' |
Intercompany interest income (expense) | ' | ' | ' | ' |
Intercompany dividend | ' | ' | ' | ' |
Earnings before income taxes from continuing operations | -28,788 | -41,348 | -67,201 | -59,573 |
Income tax benefit (provision) | ' | ' | ' | ' |
Net (loss) earnings from continuing operations | -28,788 | -41,348 | -67,201 | -59,573 |
Loss (earnings) from discontinued operations, net of tax | ' | ' | ' | ' |
Net earnings (loss) from discontinued operations | ' | ' | ' | ' |
Net earnings | -28,788 | -41,348 | -67,201 | -59,573 |
Net loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net earnings attributable to Brown Shoe Company, Inc. | -28,788 | -41,348 | -67,201 | -59,573 |
Comprehensive (loss) income | -28,585 | -41,348 | -65,982 | -59,573 |
Comprehensive (loss) income attributable to noncontrolling interest | ' | ' | ' | ' |
Comprehensive income (loss) attributable to Brown Shoe Company, Inc. | ($28,585) | ($41,348) | ($65,982) | ($59,573) |
Financial_Information_For_The_4
Financial Information For The Company And Its Subsidiaries (Schedule Of Condensed Consolidating Statement Of Cash Flows) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Net cash provided by (used for) operating activities | $61,985 | $143,523 |
Purchases of property and equipment | -37,888 | -39,081 |
Capitalized software | -3,715 | -5,436 |
Acquisition cost | ' | -5,000 |
Intercompany investing | ' | ' |
Proceeds from sale of subsidiaries, net of cash balance | 69,347 | ' |
Net cash provided by (used for) investing activities | 27,744 | -49,517 |
Borrowings under revolving credit agreement | 966,000 | 582,000 |
Repayments under revolving credit agreement | -1,071,000 | -673,000 |
Dividends paid | -9,073 | -9,007 |
Issuance of common stock under share-based plans, net | -2,406 | -1,860 |
Tax benefit related to share-based plans | 2,581 | 889 |
Intercompany financing | ' | ' |
Net cash used for financing activities | -113,898 | -100,978 |
Effect of exchange rate changes on cash and cash equivalents | -1,648 | 174 |
Decrease in cash and cash equivalents | -25,817 | -6,798 |
Cash and cash equivalents at beginning of period | 68,223 | 47,682 |
Cash and cash equivalents at end of period | 42,406 | 40,884 |
Parent [Member] | ' | ' |
Net cash provided by (used for) operating activities | 27,271 | 19,306 |
Purchases of property and equipment | -3,389 | -3,809 |
Capitalized software | -3,591 | -5,433 |
Intercompany investing | -1,024 | ' |
Proceeds from sale of subsidiaries, net of cash balance | ' | ' |
Net cash provided by (used for) investing activities | -8,004 | -9,242 |
Borrowings under revolving credit agreement | 966,000 | 582,000 |
Repayments under revolving credit agreement | -1,071,000 | -673,000 |
Dividends paid | -9,073 | -9,007 |
Issuance of common stock under share-based plans, net | -2,406 | -1,860 |
Tax benefit related to share-based plans | 2,581 | 889 |
Intercompany financing | 94,631 | 95,300 |
Net cash used for financing activities | -19,267 | -5,678 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' |
Decrease in cash and cash equivalents | ' | 4,386 |
Cash and cash equivalents at beginning of period | ' | -4,386 |
Cash and cash equivalents at end of period | ' | ' |
Guarantors [Member] | ' | ' |
Net cash provided by (used for) operating activities | 60,573 | -53,096 |
Purchases of property and equipment | -33,737 | -33,602 |
Capitalized software | -117 | ' |
Acquisition cost | ' | -5,000 |
Intercompany investing | 1,024 | ' |
Proceeds from sale of subsidiaries, net of cash balance | 69,347 | ' |
Net cash provided by (used for) investing activities | 36,517 | -38,602 |
Borrowings under revolving credit agreement | ' | ' |
Repayments under revolving credit agreement | ' | ' |
Dividends paid | ' | ' |
Issuance of common stock under share-based plans, net | ' | ' |
Tax benefit related to share-based plans | ' | ' |
Intercompany financing | -97,780 | 86,305 |
Net cash used for financing activities | -97,780 | 86,305 |
Effect of exchange rate changes on cash and cash equivalents | -1,648 | 174 |
Decrease in cash and cash equivalents | -2,338 | -5,219 |
Cash and cash equivalents at beginning of period | 32,060 | 34,332 |
Cash and cash equivalents at end of period | 29,722 | 29,113 |
Non-Guarantors [Member] | ' | ' |
Net cash provided by (used for) operating activities | -25,859 | 177,313 |
Purchases of property and equipment | -762 | -1,670 |
Capitalized software | -7 | -3 |
Intercompany investing | ' | ' |
Proceeds from sale of subsidiaries, net of cash balance | ' | ' |
Net cash provided by (used for) investing activities | -769 | -1,673 |
Borrowings under revolving credit agreement | ' | ' |
Repayments under revolving credit agreement | ' | ' |
Dividends paid | ' | ' |
Issuance of common stock under share-based plans, net | ' | ' |
Tax benefit related to share-based plans | ' | ' |
Intercompany financing | 3,149 | -181,605 |
Net cash used for financing activities | 3,149 | -181,605 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' |
Decrease in cash and cash equivalents | -23,479 | -5,965 |
Cash and cash equivalents at beginning of period | 36,163 | 17,736 |
Cash and cash equivalents at end of period | 12,684 | 11,771 |
Eliminations [Member] | ' | ' |
Net cash provided by (used for) operating activities | ' | ' |
Purchases of property and equipment | ' | ' |
Capitalized software | ' | ' |
Intercompany investing | ' | ' |
Proceeds from sale of subsidiaries, net of cash balance | ' | ' |
Net cash provided by (used for) investing activities | ' | ' |
Borrowings under revolving credit agreement | ' | ' |
Repayments under revolving credit agreement | ' | ' |
Dividends paid | ' | ' |
Issuance of common stock under share-based plans, net | ' | ' |
Tax benefit related to share-based plans | ' | ' |
Intercompany financing | ' | ' |
Net cash used for financing activities | ' | ' |
Effect of exchange rate changes on cash and cash equivalents | ' | ' |
Decrease in cash and cash equivalents | ' | ' |
Cash and cash equivalents at beginning of period | ' | ' |
Cash and cash equivalents at end of period | ' | ' |