Collective Brand Posts Narrower-than-Expected Loss, Fails to Impress Investors (PSS)
Wednesday, March 10, 2010 - 11:19
Written on Wed, 03/10/2010 - 11:19am
By Chip Brian

3/10/2010-Shares of Collective Brand (NYSE:PSS) are trading 8% lower to $22.08 Wednesday after the footwear chains owner reported a Q4 loss of 18 cents per share, ex-items, besting consensus estimates for a loss of 26 cents per share.
"Our results were strong as we delivered fresh, innovative product throughout our portfolio of brands both domestically and internationally," said Matthew E. Rubel, Chairman, Chief Executive Officer and President of Collective Brands, Inc. "This focus on the consumer led to improved gross margins that, combined with actions that lowered operating costs, drove an 11% increase in adjusted operating profit for the year. As a result, we produced record free cash flow, strengthened our capital structure, and positioned Collective Brands for further growth."

Keywords: collective brand Loss Stock smartrend

Ticker(s): PSS

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