Stride Rite Corp.’s management is budgeting an increase of 8-12...

Stride Rite Corp.’s management is budgeting an increase of 8-12 percent in its net earnings this year on 3-5 percent higher revenues. The US footwear group raised its net income by 6 percent to $25.5 million in the year ended last Nov. 28 on 3 percent higher sales of $550.1 million. The gross profit margin improved by 1.6 percentage points to 36.5 percent. The Stride Rite Children’s Group posted a 4 percent sales increase, including an 11 percent gain in the 4th quarter. Keds declined by 3 percent, while Sperry Top-Sider went up by 4 percent and Tommy Hilfiger Footwear by 9 percent. Sales outside the USA declined by 5 percent for the full year, but they were up by 22 percent in the 4th quarter.