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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (15394)9/24/1998 9:16:00 AM
From: Jenna  Read Replies (1) of 120523
 
Earnings Play...Stride Rite's Third Quarter Earnings Climb 59% as Keds Sales Increase 49%

LEXINGTON, Mass.--(BUSINESS WIRE)--Sept. 24, 1998--The Stride Rite Corporation (NYSE:SRR
- news) today reported higher sales and earnings for the third quarter of its 1998 fiscal year.

Net sales for the third quarter of fiscal 1998 increased 17% to $168.5 million from $144.5 million in the comparable 1997 period. Net income totaled $12.8 million in the third quarter of 1998, a 56% increase
above the $8.2 million earned in the same period last year. Earnings per share on a diluted basis increased 59% to $.27 per share in the third quarter of fiscal 1998 compared to $.17 per share in the
same period of fiscal 1997. During the third quarter, the Company launched three new licensed product lines, Tommy Hilfiger for women, Levi's for men and boys and Nine West Kids footwear for girls
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