Collective Brands comes up short in the second quarter

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

Collective Brands (NYSE: PSS), which owns the Payless shoe store, issued its Q2 release after the bell on Wednesday. Earnings per share took a significant dive once you made some adjustments for last year's results. They came in at 29 cents per share, a decrease of over 40%. Net sales went down over 8%.

On the surface, the news isn't good -- and it gets worse. As we all know, every investor has to play the earnings game with Wall Street. Collective Brands lost the good fight. The market was looking for 33 cents per share, according to Earnings.com. Coming in four pennies short is about as comfortable as wearing sneakers two sizes too small. Shares of Collective Brands were punished in the after-hours' session, with investors bidding the stock down by close to 7% at one point, though it later recovered.

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Collective Brands comes up short in the second quarter originally appeared on BloggingStocks on Thu, 03 Sep 2009 11:00:00 EST. Please see our terms for use of feeds.

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