Q4 loss shrinks at Hind parent
Collective Brands (NYSE: PSS), parent of Saucony and Hind, reported a smaller loss for its fourth quarter as its margins improved.
For the quarter that ended Jan. 30, the company posted a loss of $10.9 million, or $0.17 per share, versus a loss of $144 million, or $2.28 per share, in the same quarter a year earlier.
Excluding several items -- including litigation costs, charges to reflect the falling value of its assets and the expiration of a license agreement -- the company lost $11.6 million, or $0.18 per share. A year earlier, it lost $38.1 million, or $0.60 per share, on that basis.
The company's revenue grew just under 1 percent to $741.7 million.
For the full year, the company reported a profit of $82.7 million, or $1.28 per share, up from a loss of $68.7 million, or $1.09 per share, in the prior year.
Excluding one-time items, it earned $84.5 million, or $1.31 per share, for the year. In the prior year, it earned $62.2 million, or $0.99 per share, on that basis.
Sales fell nearly 4 percent to $3.44 billion for the year.
Jarden increases stock repurchase by 50 percent
Jarden (NYSE: JAH), parent of Coleman, Marmot and K2, reported that it has increased its stock repurchase program to buy back up to $150 million of its common shares.
The company's board earlier authorized a $100 million repurchase, of which approximately $52 million had been completed.
Dick’s swings out of the red in Q4
With an 11 percent rise in sales, Dick's Sporting Goods (NYSE: DKS) said it returned to a profit in the fourth quarter. It also anticipates double-digit earnings growth in 2010.
Earnings for the quarter ended Jan. 30 were $67.4 million, or $0.56 per share, compared to a loss of $105.6 million, or $0.94 per share, a year earlier when it absorbed hefty acquisition and integration costs.
Sales grew to $1.34 billion from $1.21 billion as same-store sales rose 2.5 percent. The company attributed the overall sales increase to new store openings and the addition of online sales.
For the full year, Dick's earned $135.4 million, or $1.15 per share, compared with a loss of $39.9 million, or $0.36 per share, in the prior year. Annual sales improved to $4.41 billion from $4.13 billion.
For 2010, Dick's expects to earn about $1.32 to $1.35 per share, with same-store sales approximately 2 percent to 3 percent. It anticipates a first-quarter profit between about $0.12 to $0.13 with sales at stores open at least a year up about 2 percent to 3 percent.
Hibbett CEO to step down
Hibbett Sports said Chairman and CEO Mickey Newsome will leave the CEO's job and be replaced by the company’s chief operating officer on March 15.
The new CEO, Jeffry O. Rosenthal, is also the company's president. He was vice president of merchandising and marketing before his current jobs.
Newsome will become executive chairman on Monday.
Amer Sports appoints chair, committee members
Amer Sports, parent of Salomon, Arc’Teryx and Suunto, appointed a new chairman and vice chairman, as well as various committee members, following its annual general meeting.
The company’s board of directors unanimously appointed Anssi Vanjoki as chairman and Ilkka Brotherus as vice chairman.
The board appointed from among its members the following members to the compensation committee: Pirjo Väliaho, Vanjoki, Bruno Sälzer and Christian Fischer. The nomination committee includes Brotherus, Vanjoki and Martin Burkhalter, and the audit committee is made up of Hannu Ryöppönen, Brotherus and Burkhalter.
--Compiled by Wendy Geister
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