Fitness financials: Collective Brands posts 13 percent rise in Q2 profit, plus Costco - SNEWS

Fitness financials: Collective Brands posts 13 percent rise in Q2 profit, plus Costco

Collective Brands said its fiscal second-quarter profit rose 13 percent as sales edged up and expenses declined, and Costco Wholesale said revenue at stores open at least a year increased 7 percent in August.
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Collective Brands posts 13 percent rise in Q2 profit

Collective Brands (NYSE: PSS), the parent of Saucony and Hind, said its fiscal second-quarter profit rose 13 percent as sales edged up and expenses declined.

Net income for the three months ended July 31 rose to $21.1 million, or $0.32 per share, from $18.7 million, or $0.29 per share, in the corresponding period last year.

Sales increased to $841.3 million, compared with $836.3 million last year.

International sales rose 6 percent to $109.8 million, reflecting strong performance in Ecuador and a better exchange rate in Canada, it said. PLG Wholesale unit sales rose 27 percent to $174.4 million, while PLG retail unit sales edged up 2 percent to $48.8 million.

Costco’s same-store sales for August rise

Costco Wholesale (Nasdaq: COST) said revenue at stores open at least a year increased 7 percent in August, buoyed by higher gas prices and improved international revenue.

It reported a 6-percent rise in revenue at U.S. stores open at least a year and an 11-percent increase in its overseas locations.

Taking out the impact of higher gas prices and stronger foreign currencies, August revenue at stores open at least a year gained 5 percent. The U.S. figure rose 5 percent and international results climbed 7 percent.

Total revenue for the four weeks ended Aug. 29 grew 9 percent to $5.9 billion.

Fiscal fourth-quarter revenue climbed 8 percent to $23.6 billion. Its fourth-quarter revenue at stores open at least a year climbed 6 percent. Removing increased gas prices and stronger foreign currencies, fourth-quarter and fiscal year revenue at stores open at least a year both gained 4 percent.

--Compiled by Wendy Geister

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