Hind parent narrows Q4 loss
Collective Brands (NYSE: PSS), the parent company of Hind and Saucony, said its net loss narrowed slightly in the fourth quarter as sales improved in its wholesale unit.
For the three months ended Jan. 29, net loss was $10.1 million, or $0.16 per share, compared with a loss of $10.9 million, or $0.17 per share in the year-ago period.
The company said net sales increased to $773.8 million in the quarter, up 4 percent from $741.7 million. It said the improvement was driven by growth in its wholesale segment and international stores.
Comparable store sales -- including international locations -- rose 0.4 percent.
The cost of sales rose to $527.6 million, from $498 million. Selling and administrative expenses were $243.6 million, up from $238.9 million.
Full-year 2010 net income was $112.8 million, or $1.75 per share.
Over the long term, the company said its goal is to grow earnings per share by about 12 percent to 16 percent annually.
adidas reports record sales
adidas (XETRA: ADS.DE) posted record sales and raised its 2011 sales goal on improved consumer confidence.
It reported sales of EUR 11.99 billion (USD $16.64 billion), up 9 percent on a currency-neutral basis, and operating profit of EUR 894 million (USD $1.24 billion).
adidas said it expects mid-to-high single digit growth in sales in 2011, improving on its previous guidance for a growth rate in the mid single digits.
It maintained a forecast for 2011 earnings per share to rise by 10 percent to 15 percent, setting a target of between EUR 2.98 and EUR 3.12 (USD $4.13 and $4.33).
Also, the company more than doubled its dividend to EUR 0.80 (USD $1.11) per share for 2010.
(Conversion of Euros into U.S. dollars is for information only, is not necessarily relative to earnings, and is based on the currency rate as of Mar. 2.)
--Compiled by Wendy Geister
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