Collective Brands (PSS) is expected to report Q2 earnings after market close Wednesday, Sept. 3, with a conference call scheduled for 5:00 pm ET.
Analysts are looking for a profit of 31c on revenue of $889.44M. The consensus range is 26c to 40c for EPS, and revenue of $878.3M to $907.3M, according to First Call.
In July, Caris's checks indicated June sales were better than anticipated, which makes the firm think retailers could surprise to the upside with earnings reports. Caris believes Collective Brands (PSS) could show strength in the near-term. Following a settlement agreement with K Swiss regarding alleged trademark infringement claims, Soleil raised Collective to Buy from Hold. The firm said that while Collective still faces material exposure on the recent $305M judgment against it, it can afford to pay the claim and move on "if legal remedies are not successful".
The company announced in August the closing of a manufacturing plant for infant shoes in Burnaby, British Columbia, resulting in a loss of around 300 jobs. Collective will shift to buying infant shoes from third-party manufacturers. Payless ShoeSource and fashion designer Stacey Bendet Eisner announced on September 2 that they have extended their agreement for Bendet to continue to design her popular collection, alice + olivia for Payless(TM).