US: The Stride Rite has record Q1
Children's shoes manufacturer The Stride Rite Corporation has reported record first quarter fiscal 2007 sales of $194.7m, an increase of 6% compared to the same period in the prior year.
Net income for the first quarter totalled $11.1m, compared to the net income of $8.3m in the first quarter of 2006.
David Chamberlain, chairman and CEO of Stride Rite said, "Although we made progress in the first quarter, the uneven retail environment had an effect on the first quarter results."
The company's combined Children's Group first quarter sales increased 9% compared to last year. The Children's Retail Group sales went up 14% in the quarter, while same-store sales were up 6.3%.
"We expect retail to continue with positive comps for the year. However, wholesale sales were down 1%. The introduction of our Saucony children's line in December has enjoyed a solid start in both our stores and wholesale businesses. Over time, this should allow us to open new distribution. We remain on target to turn in another year of growth in our Stride Rite children's business," Chamberlain added.
Collective Brands Inc yesterday (28 September) told analysts and investors at a meeting in New York that its Stride Rite children's footwear unit is unlikely to add to earnings in 2008 due to the impa...
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Collective Brands Inc, the holding company of Payless ShoeSource, Stride Rite and Collective Licensing International, has promoted Darrel Pavelka to the position of executive vice president, global su...
Collective Brands Inc has hired Douglas Treff as executive vice president and chief administrative officer for Collective Brands and its Payless ShoeSource unit....
Lower sales and costs associated with its $900m acquisition of The Stride Rite Corp have pushed Collective Brands, formerly Payless ShoeSource, to a 23% drop in second quarter profit....
Payless ShoeSource has completed its acquisition of The Stride Rite Corporation and has officially changed its name to Collective Brands Inc....
Slumping wholesale sales in its children's group have dented second quarter results at footwear maker The Stride Rite Corporation, pushing down profit by 16%....
Footwear retailer Payless ShoeSource has signed a deal with fashion designer Stacey Bendet to create an exclusive footwear collection for its stores....
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