Payless Shoesource Second Quarter Earnings Call
25th September 2007 00:00 AM |
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| Due to costs related to distribution centre initiative and integration of Strides Rite, the net income dropped 23% from prior year to $25 million. |
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| The specialty footwear retailer reported revenue of $699 million, down marginally from the previous year. Even though the same store sales dropped 1.4%, the company increased its market share in the quarter. Payless Shoesource, following the acquisition of Strides Rite, has changed its corporate name to Collective Brands. The company expects the acquisition to be accretive to EPS in 2008, as the Stride Rite unit''s earnings contribution is expected to exceed the incremental interest expense. |
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Payless ShoeSource Second Quarter Earnings Call
5th September 2007 00:00 AM |
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| Earnings were down 23% to $24.9 million or 38 cents a share from $32 million or 48 cents a share in 2006, due to higher expenses. |
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| The footwear, accessory and lifestyle brand company reported 1% decline in sales from $706 million in 2006 to $699 million, due to weak sandals results and the later timing of the back-to-school season in key markets. However, the firm is positioned for long-term strength, due to a focus on on-trend targeted product, brands and efficient supply chain, following the acquisition of Stride Rite Corp. to conclude the three way merger into Collective Brands Inc. |
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