Shares of Collective Brands (PSS -11.1%) fall sharply after the firm misfires with its Q3 report...

|About: Collective Brands, Inc. (PSS)|By:, SA News Editor

Shares of Collective Brands (PSS -11.1%) fall sharply after the firm misfires with its Q3 report - announcing revenue of $894M vs. a consensus estimate of $908M. CEO Michael Massey says the firm has learned from the weak performance of its Payless unit and is in the process of implementing "pricing actions" that will improve sales. The company plans to accelerate its store closings in 2011 to 350 from 315.