The Company closely integrates its merchandise purchasing requirements with various manufacturers through its sourcing organization which has offices in Topeka, Kansas, Taiwan, China and Brazil.
At this time, all lines are in listen-only mode. Later, there will be an opportunity for questions, and instructions will be given at that time. I would now like to turn the conference over to James Grant.
Please go ahead sir. After we complete our prepared remarks, Matt and Rick will take your questions. Our remarks today will contain forward-looking statements which are not historical facts and are subject to a number of risks and uncertainties.
Actual results may differ materially. And now, I would like to turn the call over to Rick. Second quarter expenses related to the Companys distribution center initiative including the exit from one facility and the temporary redundancies between facilities.
Second quarter expenses related to the integration and planning of Stride Rite. In second quarterincome related to Payless insurance recoveries due to hurricane.
Now, I would like to walk you through the second quarter financial statements and explain the drivers behind these results. Same-store sales were down 1. Importantly, we did pick up market share during the quarter according to industry reports.
So, we are very pleased with that achievement, in spite of overall sales performance. Second quarter sales were unfavorably driven by the following factors. And second, the later timings of the back-to-school to season.
Certain key markets shifted there as school start dates a couple of weeks later. These factors were mostly offset by the following related favorable drivers. We converted a higher percentage of customers in our stores and sold more units per transaction.
Now on to gross margin. Gross margin was The gross margin rate was driven principally by the following factors. Higher initial mark-on enhanced by more direct sourcing, mark-downs on most types of sandals, investments in our distribution center infrastructure and last years hurricane insurance recoveries.
The latter two factors, as I quantified earlier are negatively impact the gross margin by a combined 73 basis points. Selling, general and administrative expenses as a percent of sales was The de-leverage was due primarily to lower sales of sandals rather than a growth in expenses.
The increase was primarily driven by higher payroll, last years antitrust settlement and the Stride Rite integration planning costs, principally professional services. The change was driven by lower cash balances this year.
The lower tax provision was due in part to lower pretax earnings. Our effective income tax rate of Collective Brands, Inc. stock quote and PSS charts.
Latest stock price today and the US's most active stock market forums. Payless ShoeSource, Inc.: Representing Payless ShoeSource, Inc.
DSoft Technology has supported research initiatives to make roads safer, including reducing winter-condition related accidents for a large freight company. Payless ShoeSource, Inc. principally operates in Puerto Rico, Spain, Guam, the United States, Virgin Islands, Central America, Canada and South America. Payless ShoeSource was founded in , and is headquartered in Topeka, Kansas. Payless Shoesource financial information, fundamentals and company reports including full balance sheet, profit and Loss, debtors, creditors, financial ratios, rates, margins, prices and yields.
and certain of its affiliates in chapter 11 cases pending in the United States bankruptcy court for the Eastern District of Missouri.
Payless is the largest specialty family footwear retailer in the Western Hemisphere with nearly 4, stores across more than 30 countries. Transcript of Payless ShoeSource Inc.
Intro/Background Founded Topeka, KS Revolutionary Quality at affordable prices Payless ShoeSource Inc. Shahad Khaleel Daniel Rivas Jamaine Lindsay Eliseo Valesquez SWOT Analysis Strengths: Affordable shoes Economies of scale Brand name Keeping up with trends Weaknesses: Not fast enough shipping.
Collective Brands, Inc. historical price data and PSS charts. Free real-time prices, trades, and chat. united states bankruptcy court eastern district of missouri eastern division in re) case no.
) chapter Nov 17, · Mr. Douglas J. Treff, also known as Doug, serves as Chief Financial Officer, Corporate Secretary and Treasurer of World Vision, Inc. Mr. Treff oversees finance .