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Collective Brands’ Q1 net income up 43 percent
Collective Brands (NYSE: PSS), parent of Saucony and Hind, said its fiscal first-quarter revenue rose less than 2 percent, even though its net income rose 43 percent.
The company said it earned $54.2 million for the quarter that ended May 1, or $0.83 per share. That compares with $38 million, or $0.59 per share, in the period a year earlier.
Revenue rose 1.8 percent to $878.8 million, up from $862.9 million last year.
The company’s international revenue rose 23 percent, but its revenue in stores open at least a year fell 1.2 percent.
Sport Chalet narrows Q4 loss
Fourth-quarter sales for Sport Chalet (Nasdaq: SPCHA and SPCHB) rose nearly 7 percent, driven by favorable winter weather in most of its markets and improved inventory position from increased order fulfillment by vendors.
For the quarter ended March 28, sales increased 6.8 percent to $90.2 million for the fourth quarter of fiscal 2010, up from $84.5 million for the fourth quarter of fiscal 2009.
Same-store sales were up 5.7 percent.
Gross profit as a percent of sales increased to 27.7 percent, compared to 19.8 percent for the fourth quarter of last year.
Net loss for the quarter was reduced to $0.3 million, or $0.02 per diluted share, compared to a net loss of $11.1 million, or $0.79 per diluted share, last year.
For the fiscal year, sales decreased 5.1 percent to $353.7 million, down from $372.7 million for the previous year. Same-store sales dropped 8.4 percent.
Net loss for the year was $8.3 million, or $0.59 per diluted share, compared to a net loss of $52.2 million or $3.70 per diluted share, the year before.
Excluding the non-cash impairment charges and the effect of income taxes, the company said net loss for fiscal 2010 was reduced to $6.5 million, or $0.46 per diluted share, compared to net loss of $35.7 million, or $2.53 per diluted share, for fiscal 2009.
Costco’s revenue rises 12 percent in Q3
Costco Wholesale (Nasdaq: COST) reported a sharp increase in third-quarter profit as revenue from both sales and memberships grew.
It earned $306 million, or $0.68 per share, for the quarter, compare to $210 million, or $0,48 per share, last year. Adjusted for a one-time item, the company earned $0.66 per share.
Total revenue grew more than 12 percent to $17.39 billion.
Total same-store sales for the company were up 10 percent. U.S. same-store sales were up 6 percent, while international grew 26 percent.
–Compiled by Wendy Geister
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