Record results at Stride Rite

12/01/2007

US-based children’s footwear brand The Stride Rite Corporation has reported record fourth quarter and fiscal year 2006 net sales.

Net sales for the fourth quarter totalled $151.8 million, an increase of 15% compared with the same period in the prior year. Net income for the fourth quarter rose to $0.6 million compared with a net loss of $3.1 million in the fourth quarter of 2005. The quarter included $9.7 million of Robeez net sales for the thirteen weeks subsequent to its acquisition in September.

For the full year, net sales were $706.8 million, an increase of 20% from the $588.2 million posted in fiscal 2005. Net income for the year totalled $34.3 million, an increase of 40% compared with the $24.6 million in 2005. The prior year includes eleven weeks of Saucony results from the date of acquisition, in September 2005.

The company’s Sperry Top-Sider brand was particularly successful, with sales rising 20% for the year, while the Tommy Hilfiger Division footwear sales declined 9% in the fourth quarter, significantly less than the 28% decline for the year.