Collective Brands Q2 Sales, Earnings Miss Estimates - Quick Facts

(RTTNews) - Collective Brands, Inc. (PSS) said Wednesday that its second quarter profit rose from last year, driven by strong performance in its wholesale and international businesses. However, the company's quarterly earnings per share came in below analysts' expectations as did its quarterly sales.

The company reported net income for the second quarter of $21.1 million or $0.32 per share, compared to $18.7 million or $0.29 per share for the year-ago quarter.

Second quarter net sales increased 0.6% to $841.3 million from $836.3 million a year ago, driven by sales growth of 26.9% from the Performance + Lifestyle Group Wholesale segment offset by Collective Brands' 5.0% comparable store sales decline.

Analysts polled by Thomson Reuters expected the company to earn $0.46 per share on revenue of $863.27 million for the second quarter.