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What: Shares of footwear retailer Brown Shoe Co.
So what: Hurt by margin-hampering sourcing and supply issues at its wholesale segment, Brown Shoe's fourth-quarter profit fell 34% to $0.08 per share, versus the average analyst estimate of $0.14 per share. Brown Shoe's shares had been rallying nicely over the past several months on an encouraging rise in revenue, so it's no surprise that today's miss has Mr. Market very disappointed.
Now what: I'd continue to stay on the sidelines at this point. While Brown Shoe's full-year profit forecast of $1.37-$1.47 per share did manage to meet expectations, the company's long-term fundamentals just aren't attractive enough to buy into. And with DSW
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