Last $29.70 USD
Change Today -1.00 / -3.26%
Volume 236.1K
As of 8:04 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

brown shoe company inc (BWS) Key Developments

Brown Shoe Company Announces Amendment and Extension of Credit Agreement

Brown Shoe Company announced it has entered into an amended and restated credit agreement, which extends its senior secured asset-based revolving credit facility to December 2019, lowers the interest rate by 100 basis points, reduces unused fees and provides for less restrictive covenants and more flexibility. The company’s borrowing capacity under the agreement has been increased to $600 million, and the agreement includes an accordion feature, which allows the company to request an increase in the size of the facility to $750 million in the aggregate. The credit facility will primarily be used for working capital and as backing for trade letters of credit. It may also be used for investments in infrastructure, potential acquisitions and general corporate purposes.

Brown Shoe Mulls Acquisitions

Brown Shoe Co. Inc. (NYSE:BWS) intends to pursue acquisitions. Brown Shoe has entered into an amended and restated credit agreement. The company's borrowing capacity under the agreement has been increased to $600 million. The company plans to use the funds primarily for working capital and as backing for trade letters of credit. It may also be used for investments in infrastructure, potential acquisitions and general corporate purposes.

Brown Shoe Company Declares Regular Quarterly Dividend, Payable on January 2, 2015

Brown Shoe Company declared a quarterly dividend of $0.07 per share, payable on January 2, 2015, to shareholders of record on December 23, 2014.

Brown Shoe reportedly in hunt to acquire Stuart Weitzman

Brown Shoe Co. Inc. (NYSE:BWS) reportedly is attempting to acquire Stuart Weitzman Holdings, LLC in a deal that could be valued at almost $1 billion. Private equity firm Sycamore Partners, which owns Stuart Weitzman, has been working with Citigroup and Goldman Sachs on a potential sale of the company.

Coach Reportedly Eyes Stuart Weitzman

Coach, Inc. (NYSE:COH) is among a small list of bidders vying to acquire Stuart Weitzman Holdings, LLC, in a deal that is likely to be agreed before the end of 2014, reported Financial Times citing people familiar with the matter. According to the people, Coach faces competition from Brown Shoe Co. Inc. (NYSE:BWS) and at least one private equity buyer to acquire Stuart Weitzman. The people added that final bids for Stuart Weitzman are due in mid-December 2014, and are expected to value the company at between $600 million and $700 million. Coach and Brown Shoe Company did not immediately return requests for comment from Financial Times.

 

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BWS

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Valuation BWS Industry Range
Price/Earnings 18.5x
Price/Sales 0.5x
Price/Book 2.5x
Price/Cash Flow 18.5x
TEV/Sales 0.4x
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