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.
Monday Sector Laggards: Precious Metals, REITs
Related symbols: TRX, THM, RLJ, JCAP
Monday Sector Leaders: Music & Electronics Stores, Trucking Stocks
Related symbols: SYX, VOXX, ARCB, SAIA
Friday Sector Laggards: Drugs, Biotechnology Stocks
Related symbols: XBIT, ADMP, GNMX, IMMU
Monday's ETF with Unusual Volume: PSP
Related symbols: PSP, BX, PSEC, CG, GSBD
Monday's ETF Movers: VGK, GDXJ
Related symbols: UNCFF, DB, SMF.CA, SAND, GDXJ, VGK
SPY, FDTS: Big ETF Outflows
Related symbols: SPY, FDTS, AAPL, MSFT
Daily Dividend Report: UTX, SJM, GPC, WWD, SJI
Related symbols: UTX, SJM, GPC, WWD, SJI
Daily Dividend Report: AWK, SLB, WBA, SCHW, KMB, DFS, ED, PH, MAC
Related symbols: AWK, SLB, WBA, SCHW, KMB, DFS, ED, PH, MAC
Daily Dividend Report: CE, TXN, KMI, HUM, PPG, SWK, COL
Related symbols: CE, TXN, KMI, HUM, PPG, SWK, COL
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 - 2017, 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.