Collective Brands, Inc. PSS today reported financial results for its second quarter ended July 31, 2010. Second quarter 2010 net earnings attributable to Collective Brands, Inc. were $21.1 million, or $0.32 per diluted share, compared to $18.7 million, or $0.29 per diluted share, in the second quarter of 2009.
Collective Brands' second quarter 2010 net sales increased 0.6% to $841.3 million.
Inventory at the end of the second quarter was $497.5 million, up 7.7% versus the second quarter last year while aged inventory declined.
Net debt at the end of the second quarter was $434.4 million, a decline of $161.6 million from the prior year period. The Company used $4.2 million of cash during the second quarter to repurchase 250,000 shares of its stock.
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