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Collective Brands reports higher 2Q profits

By on September 2nd, 2009

KANSAS CITY, Mo. (AP) — Collective Brands Inc. says its fiscal second-quarter profits more than doubled but still missed Wall Street expectations.

The Topeka, Kan.-based operator of the Payless ShoeSource and Stride Rite chains on Wednesday reported earning $18.7 million, or 29 cents per share, for the quarter ended Aug. 1. By comparison, the company earned $8.1 million, or 13 cents per share, during the year-earlier period.

Not including one-time items, Collective Brands said last year’s second-quarter profits would have been 50 cents per share.


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Analysts surveyed by Thomson Reuters expected earnings this year of 33 cents per share.

Revenue during the quarter decreased 8 percent from a year ago to $836.3 million from $911.7 million. Analysts were expecting revenue of $842.7 million.

© 2009 The Associated Press. All rights reserved.

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Posted on Wednesday, September 2nd, 2009 at 5:09 pm and filed under Business News. You can follow any responses to this entry through the feed. You can leave a response, or trackback from your own site.

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