Collective Brands, Inc. (PSS) reported second-quarter net earnings of $9.7 million or $0.16 per share, compared to the net loss of $35.0 million or $0.58 per share in the comparable quarter last year.
Excluding items, non-GAAP net income for the quarter was $21.3 million or $0.34 per share, compared to the non-GAAP net income of $9.9 million or $0.16 per share last year.
On average, 5 analysts polled by Thomson Reuters expected the company to earn $0.22 per share. Analysts' estimates typically exclude special items.
Net sales for the latest quarter rose 0.4 percent to $886.0 million from $882.4 million last year. Three analysts expected revenues of $901.17 million for the quarter.
The company noted that the increase in revenue was driven by a 2.9 percent increase in its comparable store sales and 6.1 percent growth in sales of the Performance + Lifestyle Group Wholesale segment.
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