Sales rise at Stride Rite
30/03/2007
US-based children’s and adult’s footwear company The Stride Rite Corporation has reported record first quarter fiscal 2007 sales of $194.7 million, an increase of 6% compared with the same period in the prior year. Net income totalled $11.1 million compared with $8.3 million in the first quarter of 2006. Excluding costs related to the acquisition of the Robeez brand, net income would have been $11.3 million.
According to chairman and CEO, David Chamberlain, the combined Children's Group first quarter sales increased 9%, with the Children's Retail Group sales rising 14%, although wholesale sales slipped 1%.
For other brands, Keds had a weak quarter, with sales falling 9%, Sperry Top-Sider saw sales rise 10%, Saucony domestic sales were up 6% whilst international sales rose 2%, and Tommy Hilfiger footwear sales improved 4%. He added that the newly-acquire Robeez brand met expectations for the quarter.
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