Earnings Preview: Collective Brands

by: theflyonthewall.com December 02, 2008 | about stocks: PSS    

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Collective Brands (PSS) is expected to report Q3 earnings after market close Wednesday, December 3, with a conference call scheduled for 5:00 pm ET.

Guidance

Analysts are looking for a profit of 42c on revenue of $840.68M. The consensus range is 35c-47c for EPS, and revenue of $822.9M-$861.6M, according to First Call. In September, the company said it expects to achieve an operating profit growth rate in the mid-teens over time with low single-digit same-store sale growth. For FY08, the retailer said SSS may be below its long-term goal.

Collective CEO Matt Rubel said Payless is able to keep its prices low by using its large market presence to get better deals on materials and can avoid some of the price markups other brands add on since it negotiates directly with its factories in Asia. To fuel holiday shopping, Payless also announced the continuation of its designer footwear labels, which the company says is perfect for shoppers looking to save money. Collective promoted Douglas Boessen to CFO on December 1.

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