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I am Peggy Reilly Tharp, Vice President of Investor Relations for Brown Shoe Company. In addition, slides are available on our website for you to reference during today's call. Please be aware that today's discussion contains forward looking statements which are not historical facts and are subject to a number of risks and uncertainties. Securities and Exchange Commission. Please refer to today's press release and our SEC filings for more information on risk factors and other factors that could impact forward looking statements. Copies of these reports are available online. The company undertakes no obligation to update any information discussed in this call. Joining us on the call today are Diane Sullivan, President and Chief Executive Officer; Russ Hammer, Chief Financial Officer; and Rick Ausick, President, Famous Footwear. Today we will begin with a strategy review from Diane, followed by a financial summary from Russ before turning the call back over for Q would now like to turn the call over to Diane Sullivan. Thanks, Peggy. Good morning and thanks for joining us. I am very pleased to report sales of $732.2 million and adjusted earnings per share of $0.60. As our company grew the top line, managed expenses and improved the balance sheet and continued to see positive results from our portfolio realignment effort. Year to date adjusted EPS is now at $1 a share. As I have said over the past couple of quarters, Famous Footwear would be the leading indicator of our turnaround. And this business delivered another outstanding quarter with record third quarter sales of $436.8 million and a back to school same store sales comp of 5.5%. But the good news didn't end with the start of the school year. We continued to see good sales growth in October resulting in a total third quarter same store sales improvement of 6.8%. But the story is built on more than just improved sales. Our Famous Footwear real estate strategy continues to deliver as well. Stores we opened in the first nine months of the year are averaging sales of more than $205 square foot, better than our expectations. We also saw a terrific return on our marketing investments in the third quarter with our shift to digital offers from paper tabs driving record sales performance. We also saw improvements in same store traffic, up 2%, conversions, up 3.4%, while footwear AUR were up 1.3%. We had positive same store comps across channels and geographies from coast to coast and border to border, regardless of climate. This allowed us to deliver close to a 25% increase in operating profit in the quarter versus last year. In terms of products, we saw good strength in a variety of styles. Running continued its strong trend, up 13.4% over the prior year. Boat shoes were also strong, up 118%. And we had increases across men's, women's and kids in that category. Sandal sales were good in each of the quarter for a total increase of slightly over 8%. Women's boots were up 13.4% in the quarter and we feel good about casual boot sales for the fourth quarter. Unfortunately we, like others, closed out a great quarter and started the next with the advent of Hurricane Sandy. While most important is that none of our associates were injured, however, many of them are still working to sort through the damage to their homes and their personal property. Sandy shuttered as many as 230 of our stores following landfall. Although, we had all but four stores up and running within nine days, we still expect to see a fourth quarter sales impact of a little more than $2.5 million. Now in our wholesale operations third quarter net sales were up 3.3%, excluding brands we have exited over the past 12 months. Our contemporary fashion brands performed well in the quarter, up 5.2%, with very strong contribution from our Sam Edelman, Franco Sarto and Fergie brands. And I just have to give a special call out to Sam Edelman and his team and congratulate them on being named brand of the year by Footwear News. Sam just has this incredible understanding of the consumer, all you have to do is walk through the footwear floors and you will see what I mean. He knows what's relevant to her, he knows how she thinks and feels about fashion, and we are really happy for them that they won brand of the year. So congratulations to the entire team. And now for a little color on Healthy Living. Wholesales sales were up 2.1% in the quarter. Dr. Scholl's maintained this momentum as we added doors and expanded our assortment. LifeStride continued to outperform and we are thrilled to have this consistently strong brand as part of our healthy living portfolio. Ryka also had profitable growth in the quarter as it benefited from expanded distribution of key new styles. Naturalizer all in sales which include both wholesale and retail results were up approximately 1%. Same store sales at our Naturalizer retail stores were up 8.4% with traffic and conversions both up year over year. So all in it was another solid quarter for the company that we delivered improved financial results. And while I am pleased we are moving in the right direction, there is still more work to be done to reach our long term operating margin and ROIC targets. I would ask Russ to continue to focus on continuous improvement of our cost and expenses and you should expect to see steady progress in these areas. We are also continuing to evaluate our ongoing businesses against the financial target we have set just over a year ago. You know it's hard to believe it's only been a year since we first talked about our portfolio realignment strategy but I think you will agree that we have seen good success with our efforts to date. I am looking forward to closing out a successful 2012 and the turning to new opportunities in 2013. You know for sure there is a lot going on out there in the macroeconomic environment. But we are staying focused on playing our game. We are differentiating our brands. We are making sure we are building great product and merchandising it well. Operating as efficiently as we possibly can, and maintaining a strong hand on our financial management overall. With that I would now like to turn the call over to Russ for a more detailed review of our financial performance. Thank you, Diane, and thank you everyone for joining us on both the call and the webcast. We certainly appreciate it. Although Diane briefly reviewed our consolidated sales, I would like to add a little more color. For the third quarter we reported net sales of $732.2 million versus $713.8 million in the prior year. It is important to note, the results for both the third quarter 2012 and 2011 included sales of $15.6 million and $25.8 million respectively from brands and businesses we have exited. If we exclude these sales from both periods, net sales for ongoing businesses were up 4.2% for the third quarter. For the third quarter we reported GAAP net earnings of $24.3 million or $0.56 per diluted share versus $33.7 million in the prior year. Third quarter 2012 results included portfolio realignment charges of $2.6 million, while the third quarter 2011 included a $21.6 million gain on the sale of AND 1 which was partially offset by portfolio realignment and integration related costs of $5.6 million. However, on an adjusted basis net earnings improved 18.3% to $25.9 million or $0.60 per diluted share compared to earnings of $21.9 million or $0.51 per diluted share in the third quarter of 2011. I would now like to turn to our individual businesses beginning with Famous Footwear, which is part of our targeted family platform. As Diane discussed, we reported record setting third quarter sales with strong same store sales for both the quarter and the back to school selling season. We also saw improved operating profit up approximately 30%. In the quarter we continued to drive top line sales growth while maintaining margin and reducing expenses as we have closed or relocated underperforming stores. These strong results were with 60 fewer stores year over year. In total we closed or relocated 11 stores and opened 18 in the quarter, keeping us on track for our planned 90 store closures or relocations and 55 store openings in 2012. In addition, our real estate team continues to negotiate with our landlord partners to keep rents proportionally in line with our sales performance at each site, which is contributing to improved profitability. Now turning to our wholesale operations for our contemporary fashion portfolio. Third quarter sales were up 5.2% year over year with especially good sales growth from our Sam Edelman, Franco Sarto and Fergie brands. We also saw a year over year improvement in Carlos, capturing the number one selling boot position in the Famous Footwear this fall with the casual knee high boot. For Healthy Living brands, wholesales sales were up 2.1% in the quarter with double digit performance from LifeStride and Ryka and continued improvement from Dr. Scholl's Shoes. As Diane mentioned all in Naturalizer sales were up approximately 1% year over year. Naturalizer had good sell through with its fall casual product in the specialty and independent channels and once again we saw a good strength with our wholesale ecommerce partners, up nearly 30%. Online sales remain the sales driver at both wholesale and retail in the third quarter. We are also seeing more and more online offers being converted in person at local Famous Footwear stores, which helps validate the continued importance of multichannel opportunities for our consumers. Now let's turn to a review of our financial metrics. Overall, gross margin in the third quarter was 39%, which was up approximately 30 basis points. While SG as a share of revenue was 33.1%, down 40 basis points year over year. Adjusted net earnings of $25.9 million were up 18.3% versus the prior year, while adjusted operating margin of 6% was up 65 basis points. Net interest expense of $5.4 million was down 17.5% as we continue to reduce our borrowings. For the quarter, our corporate tax rate was 31.9%. Operating cash flow for the first nine months came in at $143.5 million, up $130.9 million versus a year ago. Cash and cash equivalents at the end of third quarter were $40.9 million. Cash used for financing activities was higher by a $132.9 million, particularly due to repayments net of borrowings under our revolving credit agreement in the first nine months of both 2012 and 2011, reflecting our strong operating cash flows during 2012. Inventory at quarter end was $539.4 million, down 7% when compared to $580.2 million in the third quarter of 2011. At Famous Footwear, inventory was flat, while it was down 23% in the wholesale as we work to better manage this portion of our business. Today we are operating from a much cleaner inventory position versus a year ago. And as we have maintained strong fiscal discipline in our balance sheet management, our borrowing position has improved significantly year over year. We ended the quarter with $308.8 million of borrowings, a reduction from $420.6 million at the end of last year's third quarter. Our revolving credit agreement has approximately $381 million of additional availability providing ample liquidity. Depreciation and amortization was $40.5 million for the first nine months of the year while capital expenditures were $44.5 million. Our debt to capital ratio declined to 41.7% from 50.1% in the third quarter of 2011, while working capital as a percent of sales was 42.3% versus 38.3% in the prior year. Before we began Q I would like to review our fiscal 2012 guidance. Clearly, we are encouraged by our performance year to date as we continue to earn our way quarter by quarter by delivering results. As a result of our performance, we are increasing our adjusted EPS guidance to a range of $1.06 to $1.10. While we are confident in our ability to meet the lower end of this range, we remain cautious about any potential unforeseen impact from political and macroeconomic conditions beyond our control. In terms of guidance, we also expect earnings per diluted share of $0.55 to $0.59. Consolidated net sales of $2.57 billion to $2.59 billion. Same store sales at Famous Footwear up low single digits. Net sales at wholesale operations down low to mid single digits reflecting business exits. And gross profit margin up 20 to 40 basis points. SG up $917 million to $920 million and non recurring costs of approximately $34 million. Our net interest expense of $23 million to $24 million and the effective tax rate of 32% to 35%, down from previous guidance due to better visibility into full year results and a mix shift in foreign and domestic earnings. Depreciation and amortization of $55 million to $56 million, and last, capital expenditures of $63 million to $65 million..

Petersburg, Florida yesterday. High end Nike sneakers, Coach purses, and Coogi clothing knock offs were confiscated by the police at Shoe Fashion, a retail clothing business, on Fifth Avenue N. after receiving an anonymous tip about the counterfeit sales. Tampa Bay Online reports that all the counterfeit goods were marked down from similar high prices that customers might expect of the genuine articles. Prada jeans at $975 and a Louis Vuitton shirt at $420, both counterfeit and marked down to giveaway, unrealistic sale prices. The search warrant revealed the famous logo Lacoste shirts, Ed Hardy fake clothing, Coogi, and over 780 pairs of shoes, including the coveted Nike sneakers. Who wouldn want a real Lacoste alligator shirt for $10? Knock offs sold for a pittance Consumers beware, if designer purses or Nike sneakers are selling at a price that is good to be true, the business is likely selling fake goods, made out of the country, probably China. Counterfeit merchandise has been a major problem on many online auction sites like Ebay for years. instance, a pair of Nike Jordan sneakers sells for $125, a pair of Nike Air Max for $100, and a pair of Nike Air Force 1 for $80, police said. But at Shoe Fashion, each pair cost $20, and a customer could get three pairs for $50. consumers think selling fake goods is okay Investigators at the scene said they are trying to send a message that selling counterfeit goods is against the law and competes directly with legitimate business. When consumers buy knock off goods, they don realize the trickle down effect their purchase plays directly to diminish the economy. And the same economic theory applies when consumers hire illegitimate workers. It puts small business owners out of business. Shoe Fashion owner, Alam Shikdar, was not found and no one has been charged as yet in the case. 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