Collective Brands quarterly earnings up
TOPEKA, Kan. Collective Brands reported that first-quarter 2010 net earnings were $54.2 million, or 83 cents per diluted share, compared with $38 million, or 59 cents per diluted share, in the first quarter of 2009.
Collective Brands' first quarter 2010 net sales increased 1.8% to $878.8 million. Collective Brands' comparable-store sales decreased 1.2%.
"We had strong earnings growth globally as we connected with consumers by offering compelling and innovative product," said Matthew Rubel, chairman, CEO and president of Collective Brands. "The strength of our business model, with a diverse portfolio of brands serving multiple consumers across different distribution channels and geographies, was evident in our first quarter results. We experienced strong global growth in a number of our Performance and Lifestyle Group brands and had excellent sales performance at Payless International to drive strong earnings and cash flow for the company."