Collective Brands sees earnings and sales decline, but beats expectations

Filed under: Earnings reports, Wal-Mart (WMT), Kohl's Corp (KSS)

Collective Brands (NYSE: PSS), a footwear retailer that competes with companies such as Wal-Mart (NYSE: WMT) and Kohl's (NYSE: KSS), issued Q1 results on Wednesday after the bell. The business earned 59 cents per diluted share. That represented a decline over last year's results which, on an adjusted basis, calculated out to 66 cents per share.

That's not the only disappointing news. You also have a sales decline, impacted by currency effects (of course), as well as the expiration of a license related to the Tommy Hilfiger brand. Also, same-store sales dipped by 4.8% on a reported basis, and 3.2% after the exclusion of currency translation. As can be seen, you can look at same-store sales any way you'd like, but in the end, they went down, and that is never healthy for a retailer. A retailer always wants to see rising comps.

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Collective Brands sees earnings and sales decline, but beats expectations originally appeared on BloggingStocks on Thu, 04 Jun 2009 08:00:00 EST. Please see our terms for use of feeds.

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