Collective Brands 4Q Down

By: 13 news
By: 13 news

Collective Brands Inc. says its fourth-quarter loss more than tripled as sales fell and it had to write down the value of its 2007 acquisition of the Stride Rite chain.

Tuesday, the Topeka based operator, which also operates the Payless Shoesource chain, reported losing $144 million.

By comparison, the company lost $46.6 million during the same period a year ago.

Quarterly revenue declined 5.4% to $735.2 million.


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