Collective Brands Reports Q2 2010 Financial Results

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.