Leading children's shoes brand provider The Stride Rite Corporation reported financial results for its 2005 second fiscal quarter and six months ended June 3, 2005.
Net sales for the second quarter of fiscal 2005 decreased 3% to $159.6 million from $165.0 million in the comparable quarter in fiscal 2004. Operating income in the second quarter of 2005 was $18.2 million, a 4% decrease from the prior year's quarter. Net income for the second quarter was $11.8 million, or $0.32 per diluted share, as compared to net income of $11.9 million, or $0.30 per diluted share, in last year's second quarter.
For the first six months of fiscal 2005, net sales were $310.2 million, an increase of 3% from net sales of $301.1 million for the same period in fiscal 2004. Net income for the first half of fiscal 2005 was $19.9 million, an increase of 3% from $19.4 million in the comparable period in 2004. Diluted earnings per share were $0.54 in the first half of fiscal 2005 compared to $0.49 in the first half of fiscal 2004.
Second quarter sales of the Stride Rite Children's Group were up 3% compared to the second quarter of fiscal 2004. The Children's Group company-owned retail stores had a sales increase of 7% for the second quarter over the same period of fiscal 2004. Sales at comparable Children's Group retail stores increased 1.9% in the second quarter reflecting, in part, the timing of the earlier Easter holiday. For the first six months, our net store count was 259, up 8 stores.
marketing@alchempro.com
