Shoe News: Collective Brands, Brown Shoe Thursday, August 25, 12:47 PM ET
Shares of Payless ShoeSource parent Collective Brands (
PSS) are surging today after the company posted second quarter results, and announced store closings, after the close of trading yesterday.
The shoe retailer said it swung to a loss of $35 million, or $0.58 per share, compared to a profit of $21 million, or $0.32 per share, in last yearís second quarter.
Adjusted earnings of $0.16 per share exceeded analyst estimates, however, as did a 4.9% increase in revenue, to $882.4 million.
The company also said it plans to close 475 underperforming stores within three years.
Famous Footwear parent Brown Shoe (
BWS) released second quarter results today, posting a loss of $4.6 million, or $0.11 per share, compared to a gain of $5.3 million, or $0.12 per share, last year.
The companyís adjusted loss was $0.06 per share, below analyst expectations.
Net sales rose 7.2%, to $628.1 million.
Brown Shoe also said today it is planning on selling its AND 1 brand for $55 million in cash, and it is looking for 2011 full year earnings of $0.85 to $0.97 per share.
For MarketNewsVideo.com, Iím Kristin Bianco.
Tuesday Sector Laggards: Education & Training Services, Television & Radio Stocks
Related symbols: EDU, LINC, AMCX, SSC
Tuesday Sector Leaders: Gas Utilities, Biotechnology Stocks
Related symbols: CPK, SJI, INO, FATE
Monday Sector Laggards: Electronic Equipment & Products, Agriculture & Farm Products
Related symbols: SANM, IIVI, TYHT, CRESY
Tuesday's ETF with Unusual Volume: AGT
Related symbols: AGT, YPF, SUPV, BMA
Tuesday's ETF Movers: XBI, VOX
Related symbols: INO, RARE, GSAT, FTR, VOX, XBI
KIE, XRT: Big ETF Outflows
Related symbols: KIE, XRT, FAF, LNC, OSTK, KSS
Daily Dividend Report: KMB, WEC, PETS, BDX, WPZ, WYNN
Related symbols: KMB, WEC, PETS, BDX, WPZ, WYNN
Daily Dividend Report: AOS, EPR, C, TXN, WBA, DFS
Related symbols: AOS, EPR, C, TXN, WBA, DFS
Daily Dividend Report: MS, ED, KMI, CCL, PPG, HPE
Related symbols: MS, ED, KMI, CCL, PPG, HPE
Weekly Market Wrap: August 14, 2015
Related symbols: BAC, AMAT, AAPL, S, SYY
Weekly Market Wrap: August 7, 2015
Related symbols: SUNE, BAC, CHK, GRPN, AAPL
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
Shoe News: Collective Brands, Brown Shoe
| Market News Video | Copyright © 2008 - 2018, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.