Collective Brands Inc., a footwear retailer, said fourth quarter 2007 ended February 2, 2008 net sales were $776.8 million, up 12.1% compared to the 14-week fourth quarter of 2006.

Net loss for the fourth quarter 2007 was $46.6 million or $0.73 per diluted share in the fourth quarter of 2006 (a 14-week quarter compared to a 13-week quarter in 2007), the net earnings of $24.6 million or $0.37 per diluted share which included a tax benefit of $14.3 million, or $0.22 per diluted share.

Sales for the full year 2007 were $3.04 billion, up 8.5% versus the prior year due to the addition of Stride Rite. Comparable store sales (which include only Payless results) declined 1.9% in 2007.

Net earnings for 2007 were $42.7 million, or $0.65 per diluted share, compared to 2006 net earnings of $122.0 million, or $1.82 per diluted share.

""The results in the fourth quarter of 2007 reflected a difficult domestic economic environment,"" said Matthew E. Rubel, chief executive and president. ""In response to this, we have been prudently adjusting inventory and expenses. Our inventory levels are below last year at Payless and we are prepared with fresh product for the spring season.""

Depreciation and amortization in 2008 is expected to total approximately $145 million, due to greater investments in supply chain and stores in recent years as well as the 2007 acquisition of Stride Rite.

Collective Brands (PSS: chart) stock fell $2.48 to $12.68.

J. Crew Group, Inc an apparel retailer said that for the quarter ended Feb. 2, net income of $25 million, or 39 cents per share, compared with $44 million, or 71 cents per share, in the year-ago quarter.

The current year''s retail calendar weeks the company saw a 4% increase during the quarter. Fourth-quarter same-store sales remained flat year over year.

For the fiscal 2007 revenue totaled $1.33 billion, compared to $1.15 billion in fiscal 2006. For the full year net income rose to $97.1 million, or $1.52 per share, up from $71.6 million, or $1.49 per share, in the previous year.

J. Crew shares rose $1.58 to $44.18.

Stage Stores, Inc. a specialty department retailer’s fourth quarter sales dropped 4% to $473 million from $491.2 million a same quarter year earlier.

Earnings for the period ended Feb. 2 declined to $31.7 million, or 78 cents per share, compared with $39.6 million, or 88 cents per share, in the same quarter previous year.

Total sales for the 52 week 2007 fiscal year were $1,545.6 million from $1,550.2 million for the 53 week 2006 fiscal year.

Annual revenue was essentially flat at $1.55 billion. For the year, net income slipped 4% to $53.1 million, or $1.24 per share, compared with $55.3 million, or $1.25 per share, in the prior year.

Same-store sales dipped 3.1% compared with a 2.5% increase in the previous year.

For the first quarter, the company expects net income between $5 and $6.2 million or between $0.13 and $0.16 per diluted share on sales between $360 and $367 million. Analysts polled by Thomson Financial expect earnings of $0.12 per share on revenues of $369.40 million.

In the year-ago first quarter, the company earned $9.1 million or $0.20 per diluted share on sales of $358.2 million.