-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AKLyPQjMN5inq6CSyUMUvQYPQW6R1DmOTkYYVsuKFwE4i0yR8MxJqKEQg3i1jmf3 IFIanm+jlrceuLBWxhlCxA== 0000094887-01-500005.txt : 20010716 0000094887-01-500005.hdr.sgml : 20010716 ACCESSION NUMBER: 0000094887-01-500005 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010601 FILED AS OF DATE: 20010713 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRIDE RITE CORP CENTRAL INDEX KEY: 0000094887 STANDARD INDUSTRIAL CLASSIFICATION: FOOTWEAR, (NO RUBBER) [3140] IRS NUMBER: 041399290 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-04404 FILM NUMBER: 1680668 BUSINESS ADDRESS: STREET 1: 191 SPRING STREET CITY: LEXINGTON STATE: MA ZIP: 02421 BUSINESS PHONE: 6178246000 MAIL ADDRESS: STREET 1: 191 SPRING STREET CITY: LEXINGTON STATE: MA ZIP: 02421 FORMER COMPANY: FORMER CONFORMED NAME: GREEN SHOE MANUFACTURING CO DATE OF NAME CHANGE: 19720606 10-Q 1 secondqtr.txt FORM 10-Q 1 of 15 pages - ------------------------------------------------------------------------------ SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 1, 2001 ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from to . Commission File Number: 1-4404 THE STRIDE RITE CORPORATION (Exact name of registrant as specified in its charter) Massachusetts 04-1399290 (State or other jurisdiction) (I.R.S. Employer Identified No.) 191 Spring Street, Lexington, Massachusetts 02421 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (617)824-6000 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which registered - -------------------------------- --------------------- Common stock, $.25 par value New York Stock Exchange Preferred Stock Purchase Rights New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant (1) has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such report), and (2) has been subject to such filing requirements for the past 90 days. Yes (X) No ( ) - As of July 11, 2001, 41,800,779 shares of the registrant's common stock, $.25 par value, and the accompanying Preferred Stock Purchase Rights were outstanding. PART I - FINANCIAL INFORMATION ITEM 1. Financial Statements THE STRIDE RITE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in Thousands)
June 1, June 2, 2001 December 1 2000 (Unaudited) 2000 (Unaudited) -------------- -------------- -------------- Assets Current Assets: Cash and cash equivalents $ 19,608 $ 62,976 $ 40,911 Accounts and notes receivable, net 89,567 54,375 82,976 Inventories 94,666 105,917 79,021 Deferred income taxes 25,494 25,494 26,303 Other assets 3,184 6,365 4,525 ------- ------- ------- Total current assets 232,519 255,127 233,736 Property and equipment, net 74,621 76,240 72,064 Other assets 21,600 21,106 20,793 ------- ------- ------- Total assets $328,740 $352,473 $326,593 ======== ======== ========
The accompanying notes are an integral part of the condensed consolidated financial statements. 2 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Dollars in Thousands)
June 1, June 2, 2001 December 1 2000 (Unaudited) 2000 (Unaudited) --------------- -------------- -------------- Liabilities and Stockholders' Equity Current Liabilities: Short-term debt - $ 24,000 - Accounts payable $ 17,608 32,570 $ 16,964 Income taxes payable 20,953 18,716 22,701 Accrued expenses and other liabilities 20,370 21,666 26,890 -------- -------- -------- Total current liabilities 58,931 96,952 66,555 Deferred income taxes 5,929 5,929 5,219 Stockholders' Equity: Preferred stock, $1 par value Shares authorized - 1,000,000 Shares issued - None - - - Common stock, $.25 par value Shares authorized - 135,000,000 Shares issued - 56,946,544 14,237 14,237 14,237 Capital in excess of par value 19,875 20,276 20,721 Retained earnings 385,521 371,821 368,920 Less cost of 15,258,760 shares of common stock held in treasury (15,355,693 on December 1, 2000 and 13,874,260 on June 2, 2000) (155,753) (156,742) (149,059) --------- --------- --------- Total stockholders' equity 263,880 249,592 254,819 --------- --------- --------- Total liabilities and stockholders' equity $ 328,740 $ 352,473 $ 326,593 =========== ========= =========
The accompanying notes are an integral part of the condensed consolidated financial statements. 3 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) For the periods ended June 1, 2001 and June 2, 2000 (In Thousands Except Per Share Data)
Three Months Ended Six Months Ended ------------------ ---------------- June 1, June 2, June 1, June 2, 2001 2000 2001 2000 ------------ ------------ ----------- ---------- Net sales $ 153,660 $156,533 $304,753 $308,196 Cost of sales 94,860 98,669 191,029 195,435 Selling and administrative expenses 43,072 40,855 86,279 84,119 --------- -------- -------- -------- Operating income 15,728 17,009 27,445 28,642 Other income(expense): Investment income 408 783 1,968 1,644 Interest expense (486) (681) (1,075) (1,154) Other, net (85) (51) (553) (10) ---------- -------- --------- -------- (163) 51 340 480 ---------- -------- -------- -------- Income before income taxes 15,565 17,060 27,785 29,122 Provision for income taxes 5,516 6,451 9,918 11,026 --------- -------- -------- -------- Net income $ 10,049 $ 10,609 $ 17,867 $ 18,096 ========= ======== ======== ======== Net income per common share: Diluted $ .24 $ .24 $ .43 $ .41 ========= ======== ======== ======== Basic $ .24 $ .25 $ .43 $ .42 ========= ======== ======== ======== Dividends per common share $ .05 $ .05 $ .10 $ .10 ========= ======== ======== ======== Average common shares used in per share computations: Diluted 42,060 43,474 42,003 43,789 ========= ======== ======== ======== Basic 41,687 43,221 41,668 43,600 ========= ======== ======== ========
The accompanying notes are an integral part of the Condensed consolidated financial statements. 4 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) For the six months ended June 1, 2001 and June 2, 2000 (Dollars in Thousands)
2001 2000 --------------- ------------- Cash was provided from (used for): Operations: Net income $ 17,867 $ 18,096 Adjustments to reconcile to net cash provided from (used for) operations: Depreciation and amortization 7,345 6,070 Compensation expense related to executive stock plans 115 117 Gain related to long-term investments (451) - Loss on disposal of property and equipment 58 177 Changes in: Accounts and notes receivable (35,192) (35,498) Inventories 11,251 42,146 Other current assets 3,181 370 Accounts payable, income taxes, accrued expenses and other current liabilities (13,879) (23,897) --------- -------- Net cash provided from(used for)operations (9,705) 7,581 --------- -------- Investments: Additions to property and equipment (5,667) (10,754) Distribution from long-term investments 451 - Net sales of marketable securities 316 1,091 Increase in other assets (952) (278) --------- -------- Net cash used for investments (5,852) (9,941) --------- -------- Financing: Short-term debt repayments (24,000) - Proceeds from sale of stock under stock plans 352 - Cash dividends paid (4,163) (4,427) Repurchase of common stock - (9,488) -------- -------- Net cash used for financing (27,811) (13,915) --------- -------- Net decrease in cash and cash equivalents (43,368) (16,275) Cash and cash equivalents at beginning of the period 62,976 57,186 -------- -------- Cash and cash equivalents at end of the period $ 19,608 $ 40,911 ======== ========
The accompanying notes are an integral part of the condensed consolidated financial statements. 5 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 The financial information included in this Form 10-Q of The Stride Rite Corporation (the "Company") for the periods ended June 1, 2001 and June 2, 2000 is unaudited and subject to year-end adjustments. However, such information includes all adjustments (including all normal recurring adjustments) which, in the opinion of management, are considered necessary for a fair presentation of the consolidated results for those periods. The results of operations for the periods ended June 1, 2001 and June 2, 2000 are not necessarily indicative of the results of operations that may be expected for the complete fiscal year. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles. The Company filed audited consolidated financial statements for the year ended December 1, 2000 on Form 10-K which included all information and footnotes necessary for such presentation. The Company's preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingency assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. The most significant estimates included in these financial statements include valuation allowances and reserves for accounts receivable, inventory and income taxes. Actual results could differ from those estimates. 6 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 Basic earnings per share excludes dilution and is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if options to issue common stock were exercised. The following is a reconciliation of the number of shares used in the basic and diluted earnings per share computations (shares in thousands):
Three Months Ended Six Months Ended ------------------ ---------------- June 1, June 2, June 1, June 2, 2001 2000 2001 2000 --------- --------- --------- --------- Net income applicable to common shares $10,049 $10,609 $17,867 $18,096 Calculation of shares: Weighted average number of common shares outstanding (basic) 41,687 43,221 41,668 43,600 Common shares attributable to assumed exercise of dilutive stock options and stock purchase rights using the treasury stock method 373 253 335 189 ------- ------- ------- ------- Average common shares and common equivalents outstanding during the period (diluted) 42,060 43,474 42,003 43,789 ======= ======= ======= ======= Net income per common share (basic) $ .24 $ .25 $ .43 $ .42 ======= ======= ======= ======= Net income per common share (diluted) $ .24 $ .24 $ .43 $ .41 ======= ======= ======= =======
The following options were not included in the computation of diluted EPS because the options' exercise price was greater than the average market price of the common shares:
Second Quarter First Six Months ---------------------- ---------------------- 2001 2000 2001 2000 ---------- ---------- --------- ----------- Options to purchase shares of common stock (in thousands) 1,998 2,870 2,068 3,221
7 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We caution investors that any forward-looking statements presented in this report and presented elsewhere by management from time to time are based on management's beliefs and assumptions made by, and information currently available to, management. When used, the words "anticipate", "estimate", "project", "should", "expect" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance, which may be affected by various trends and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Accordingly, past results and trends should not be used by investors to anticipate future results or trends. Some of the key factors that may have a direct bearing on our results are presented in the Company's Form 10-K for the fiscal year ended December 1, 2000, which was filed with the Securities and Exchange Commission. Results of Operations The following table summarizes the Company's performance for the second quarter and first six months of fiscal 2001 as compared to the results for the same periods in fiscal 2000:
Increase (Decrease) Percent vs. 2000 results: Second Quarter Six Months Net sales (1.8)% (1.1)% Gross profit 1.6% 0.9% Selling and administrative expenses 5.4% 2.6% Operating income (7.5)% (4.2)% Income before income taxes (8.8)% (4.6)% Net income (5.3)% (1.3)%
Operating Ratios as a Percent to Net Sales:
Second Quarter Six Months ----------------- ------------------- 2001 2000 2001 2000 -------- -------- --------- --------- Gross profit 38.3% 37.0% 37.3% 36.6% Selling and administrative expenses 28.0% 26.1% 28.3% 27.3% Operating income 10.2% 10.9% 9.0% 9.3% Income before income taxes 10.1% 10.9% 9.1% 9.4% Net income 6.5% 6.8% 5.9% 5.9%
8 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) Net Sales Net sales in the second quarter of fiscal 2001 decreased $2.9 million or 1.8% below the net sales level for the same period of fiscal 2000. In the second quarter of 2001, wholesale brand revenues decreased 6%, while retail sales increased 16% from the same period in 2000. Over the first six months of 2001, consolidated net sales decreased by $3.4 million, 1.1% below the sales for the comparable period of 2000. Revenues related to the Company's wholesale brands declined 4% during the first half of 2001, while retail sales increased 15%. Unit shipments of current line merchandise for the wholesale brands during the first half of 2001 were flat to the comparable period in 2000. The Company's average selling price was lower in the first half of 2001, decreasing 2% from last year. Sales of discontinued products decreased $2.9 million in the first half of 2001 as compared to the same period in 2000. Sales of Stride Rite Children's Group increased 10% in the second quarter of fiscal 2001, the result of a 16% increase in retail sales and a 2% gain in sales to independent accounts, as compared to the same period in fiscal 2000. During the second quarter of 2001, sales at comparable, company-owned retail stores increased 3.3% from the same period of 2000. For the first six months of 2001, sales of the Stride Rite Children's Group increased 10% from the same period in 2000, with the retail portion increasing 15% and the wholesale portion increasing 6%. Sales at comparable, company-owned retail stores increased 2.4% during the first half of 2001. Sales of the Stride Rite brand in the first half of 2001 were helped by the introduction of the Munchkin(R) product line in the moderate retail channel. At the end of the second quarter of 2001, the Company operated 203 stores, up 5% from the 193 stores open at the end of the second quarter in 2000. The Company opened 10 new stores and sold or closed 8 underperforming locations in the first six months of 2001. In the second quarter of fiscal 2001, sales of the Keds brand were 11% lower than the comparable period of fiscal 2000. For the first six months of 2001, Keds' net sales decreased 7% compared to the same period of 2000, with the sales of women's and children's products decreasing 6% and 10%, respectively, from the first half of 2000. Sales of discontinued products decreased by 34% for the six months as compared to the same period of 2000, as the brand had undergone a major product transition last year. During the second quarter, Keds began shipping its new Ready to Wash(TM) products. This introduction will be supported with television advertising during the third quarter. Keds will also be opening a total of five retail stores in the second half of this year. These stores will exhibit the Keds lifestyle concept and full product line to our consumers. 9 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) Sales of Tommy Hilfiger footwear products in the second quarter of fiscal 2001 increased 3% as compared to the same period in fiscal 2000. The increase was driven by a 19% increase in women's product and a full quarter of sales in the girl's line, which was launched late in May 2000. These gains offset decreases in both the men's and boy's lines which decreased 33% and 39%, respectively, versus the prior year. For the first six months of 2001, sales of Tommy Hilfiger footwear increased 1% as compared to the same period in 2000. Sales of the Sperry Top-Sider brand decreased 8% in the second quarter of fiscal 2001, bringing the first half sales decrease to 14% below the comparable period of fiscal 2000. Sperry's second quarter sales were negatively impacted by lower sales in men's and women's canvas as well as men's casual leather products. International revenues in the second quarter of 2001 were below the comparable period of 2000 by $0.6 million or 10%. For the first six months of 2001, International revenues declined less than 1% from the comparable period of 2000. Gross Profit During the first six months of fiscal 2001, gross profit increased $1.0 million or 0.9% above the same period in fiscal 2000. This increase compares favorably to the net sales decrease of 1.1% as compared to the same period last year. The consolidated gross profit percent in the first half of 2001 increased 0.7 percentage points, finishing at 37.3% in 2001 compared to 36.6% in 2000. Gross profit performance also improved in the second quarter of 2001, compared to the same period in 2000, 38.3% in 2001 compared to 37.0% in the 2000 second quarter. The Company's gross profit performance was beneficially impacted for the quarter and the six months by the increased significance of retail sales, which yields a higher gross profit percentage, to overall consolidated sales. Lower closeout sales and inventory obsolescence in the first half improved gross profit by 0.4 percentage points compared to the prior year. The Company's LIFO provision had little impact on gross profit comparisons for the first six months of 2001, with LIFO decreasing gross profit by $1.2 million (0.4% of net sales) in 2001 compared to a reduction of $1.1 million (0.4% of net sales) in 2000. Operating Costs Selling and administrative expenses in the first half of fiscal 2001 increased $2.2 million or 2.6% from the spending level in the first half of fiscal 2000. Operating costs as a percentage of sales in the first half increased 1.0 percentage point from the same period of 2000 (28.3% in 2001 compared to 27.3% in 2000). The expense level in the first half of fiscal 2001 was unfavorably impacted by executive termination charges which totaled $1.8 million. Higher retail store expenses, primarily related to the start-up of new stores, increased overall operating expenses by 4.1% during the first six months of 2001. Advertising expense represented 5.3% of net sales in the first half of 2001, which was slightly below the spending rate of 5.4% for the comparable period of 2000. 10 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) Other Income and Taxes Other income (expense) increased pre-tax income by $0.3 million in the first six months of fiscal 2001 compared to an increase of $0.5 million in the similar period of fiscal 2000. Investment income for the first six months of 2001 was $2.0 million, up from the $1.6 million for the first half of 2000. Interest expense in the first six months of 2001 decreased to $1.1 million compared to $1.2 million in 2000. The average interest rate on borrowed funds was 6.4% during the first six months, lower than the 6.7% rate during the comparable period last year. Average short-term borrowings in the first six months of 2001 were $28.7 million, 7% below the average borrowings of $31.0 million in the comparable period of 2000. The provision for income taxes decreased $1.1 million in the first six months of fiscal 2001 as compared to the similar period in fiscal 2000. This decrease was due to the lower effective income tax rate in the first half, 35.7% versus 37.9%, in the prior year. The lower tax rate is based on the year-end projected tax rate and also reflects the reduction of certain tax exposures. Net Income Net income for the first six months of fiscal 2001 decreased $0.2 million, down 1.3% from the income earned in the same period of fiscal 2000. Higher operating expenses, primarily caused by the executive termination expenses were substantially offset by a lower effective tax rate and a higher gross profit percentage. As a result, the Company's return on net sales of 5.9% in the first six months of 2001 was equal to the 5.9% in the first half of 2000. Liquidity and Capital Resources At June 1, 2001, the Company's balance sheet reflects a current ratio of 3.9 to 1 with no long-term debt. The Company's cash and cash equivalents totaled $19.6 million at the end of the latest quarter, below the prior year's cash and cash equivalents total of $40.9 million. When combined with intermediate-term fixed income investments, which are included in other assets, total available cash and investments amounted to $31.5 million at June 1, 2001 compared to $51.0 million in 2000. The Company uses its $75 million revolving credit facility to fund seasonal working capital needs. No borrowings under this line of credit were outstanding as of June 1, 2001, or June 2, 2000. 11 PART I - FINANCIAL INFORMATION (Continued) THE STRIDE RITE CORPORATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) During the first six months of fiscal 2001, the Company used $9.7 million of cash for operations. This negative cash flow amount was well below the $7.6 million of cash provided from operations during the same period in fiscal 2000. At June 1, 2001, accounts receivable and inventory levels totaled $184.2 million, an increase of $22.2 million or 14% above the $162.0 million asset amount at the end of the second quarter of 2000. Accounts receivable at the end of the second quarter of 2001 increased $6.6 million or 8% compared to the prior year. Much of this increase in accounts receivable was caused by the timing of sales which occurred later in the second quarter as compared to fiscal year 2000. Inventories were also higher at the end of the second quarter of 2001, up $15.6 million or 20% from the 2000 level. This increase in inventory was principally in the Stride Rite Children's Group and is expected to service their second half growth. Also, some leather product purchases were accelerated to alleviate any impact on supply that may result from shortages caused by mad cow and hoof and mouth diseases. Additions to property and equipment totaled $5.7 million in the first half of fiscal 2001 below the $10.8 million for the same period in fiscal 2000. The smaller capital expenditures were the result of lower spending on information technology in fiscal 2001 and building costs related to the expansion of the Company's Huntington, Indiana distribution facility which were spent in fiscal 2000. During the first half of 2001, the Company did not repurchase any shares of its common stock. At June 1, 2001, the Company has 2.1 million shares remaining on the repurchase authorization approved by the Board of Directors in December 1999. 12 PART II - OTHER INFORMATION ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS The Annual Meeting of the Company's shareholders was held on April 12, 2001. The two directors nominated by management were elected by the vote set forth below: Votes ------------------------
Name of Director For Withheld ----------------- --- -------- Christine M. Cournoyer 34,330,159 3,013,275 Donald R. Gant 34,304,632 3,038,802
The Company's other directors, whose term of office continues after the 2001 stockholders' meeting, are as follows: David M. Chamberlain Peter L. Harris Frank R. Mori Bruce Van Saun Myles J. Slosberg Diane M. Sullivan The Company's shareholders also ratified the Company's selection of PricewaterhouseCoopers LLP. as auditors of the Company for the 2001 fiscal year by the vote set forth below: Votes ------------------------------------------------
For Against Abstentions --- ------- ----------- 37,120,088 147,219 76,127
The shareholders voted in favor of a proposal requesting that the directors consider and act upon to approve The Stride Rite Corporation 2001 Stock Option and Incentive Plan, by the vote set forth below: Votes ---------------------------------------------------------------
Broker For Against Abstentions Non-Vote --- ------- ----------- -------- 18,685,271 10,517,320 211,416 7,929,427
13 ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits. The following exhibits are contained in this -------- report: None (b) Reports on Form 8-K There were no reports filed on Form 8-K during the most recent quarterly period. 14 THE STRIDE RITE CORPORATION SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized. THE STRIDE RITE CORPORATION --------------------------- (Registrant) Date: July 12, 2001 By: /S/ Frank A. Caruso -------------------------- Frank A. Caruso Chief Financial Officer 15 -----END PRIVACY-ENHANCED MESSAGE-----