Net income attributable to Collective Brands rose 42%to $54.2 million from $38.0 million for the period ended May 1. Total saleswere 2% higher to $878.8 million from $862.9 million although comparable storesales dipped 1.2% (C$ -2.2%). Gross margins improved 240 b.p. to 38.3% on fewermarkdowns and lower product costs. Period end inventory was down 2.8%year-over-year to $467.4 million with aged inventory falling an unspecifiedpercentage. EBITDA grew 22% to $115 million.

Results by segment showed: Payless U.S. recorded a 17%increase in operating profit to $49.3 million despite a 4% decline in revenuesto $546.6 million. But there were healthy increases in accessories, sandals ... Log in to view full article.