Collective Brands Posts Higher First-Quarter Profit

Collective Brands

released its fiscal first-quarter earnings results after the closing bell on Tuesday. The company reported net income of $33.2 million or $0.54 per share, compared to $26.4 million or $0.42 per share, in the year ago period. On an adjusted basis, which is comparable to analysts' consensus, net earnings were $41.7 million or $0.68 per share. This compared to Wall Street analysts' consensus EPS estimates of $0.44. Net sales in the quarter were $912.1 million, a 5 percent increase from the $869.0 million the company reported in last year's first-quarter. This exceeded Wall Street consensus revenue estimates of $878.62 million. In Tuesday's after hours trading session, PSS shares were last trading up 0.47% to $21.35.