Business Segment Information

6 Months Ended

Jul. 30, 2011

Business Segment Information

Business Segment Information

Note 7 Business Segment Information

Applicable business segment information is as follows:

($ thousands)	Famous Footwear		Wholesale Operations			Specialty Retail			Other			Total
Thirteen Weeks Ended July 30, 2011
External sales	$	344,930	$		222,655	$	60,543		$	–		$	628,128
Intersegment sales		400			56,012		–			–			56,412
Operating earnings (loss)		7,495			4,083		(3,012	)		(8,406	)		160
Operating segment assets		527,195			629,116		54,262			140,350			1,350,923
Thirteen Weeks Ended July 31, 2010
External sales	$	347,316	$		178,643	$	59,797		$	–		$	585,756
Intersegment sales		438			47,215		–			–			47,653
Operating earnings (loss)		15,751			9,027		(2,746	)		(9,901	)		12,131
Operating segment assets		548,683			348,148		54,629			125,671			1,077,131
Twenty-six Weeks Ended July 30, 2011
External sales	$	687,657	$	444,784		$	120,307		$	–		$	1,252,748
Intersegment sales		801		97,269			–			–			98,070
Operating earnings (loss)		26,277		10,610			(6,756	)		(17,383	)		12,748
Twenty-six Weeks Ended July 31, 2010
External sales	$	709,486	$	353,372		$	120,616		$	–		$	1,183,474
Intersegment sales		971		88,328			–			–			89,299
Operating earnings (loss)		43,934		17,706			(5,655	)		(22,526	)		33,459

The Other segment includes corporate assets and administrative expenses and other costs and recoveries which are not allocated to the operating segments.

During the thirteen weeks and twenty-six weeks ended July 30, 2011, operating earnings of the Wholesale Operations segment included an increase in cost of goods sold related to the impact of the inventory fair value adjustment in connection with the acquisition of ASG of $1.5 million and $4.2 million, respectively, and the operating loss of the Other segment included costs related to the Company's acquisition and integration of ASG of $0.7 million and $2.4 million, respectively.

During the thirteen weeks and twenty-six weeks ended July 31, 2010, operating loss of the Other segment included costs related to the Company's information technology initiatives of $1.7 million and $3.3 million, respectively. During the thirteen weeks and twenty-six weeks ended July 31, 2010, operating earnings of the Company's Wholesale Operations segment included costs related to the information technology initiatives of $0.2 million and $0.3 million, respectively.

Following is a reconciliation of operating earnings to (loss) earnings before income taxes:

	Thirteen Weeks Ended						Twenty-six Weeks Ended
($ thousands)	July 30, 2011			July 31, 2010			July 30, 2011			July 31, 2010
Operating earnings	$	160		$	12,131		$	12,748		$	33,459
Interest expense		(6,520	)		(4,810	)		(13,218	)		(9,322	)
Loss on early extinguishment of debt		(1,003	)		–			(1,003	)		–
Interest income		65			49			150			67
(Loss) earnings before income taxes	$	(7,298	)	$	7,370		$	(1,323	)	$	24,204