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Collective Brands Q4 loss widens on higher costs, but sales up
Topeka, Kan. -- Footwear seller Collective Brands Inc. said that its fourth-quarter loss widened dramatically from the year before as higher costs cut into profit margins. But the loss was far narrower than Wall Street expected, while revenue was much higher.
The company, which operates the Payless ShoeSource chain, said its net loss during the quarter ended Jan. 28 was $41.6 million, up from a loss of $10.1 million in the year-ago period. Revenue rose to $815.9 million from $773.8 million. Same-store sales increased 1.7%, also better than expected.
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Burlington Coat Factory to open at Woodbridge Crossing
Woodbridge, N.J. -- SRS Real Estate Partners said that Burlington Coat Factory has leased 78,303 sq. ft. at Woodbridge Crossing Shopping Center in Woodbridge, N.J.
Burlington Coat Factory, scheduled to open later this year, will be occupying the former The Great Indoors, which closed several years ago.