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DSW Stock Tumbles on Unexpected Net Loss, Announces New Umbrella Company

Shares for DSW Inc. are tumbling in morning trading after the off-price footwear seller posted a surprising fourth-quarter loss.
The company’s stock was down nearly 15 percent to $21.70 as of 9:45 a.m. ET after it said it reported a loss of $5.4 million, or 7 cents a share, in the period ended Feb. 2. Analysts had expected earnings per share of 4 cents. On a reported basis, the firm’s losses were even steeper at $45.7 million, or 58 cents per share.
Revenues during the period, however, advanced 16 percent to $843.4 million, besting the $841.5 million market watchers had predicted. DSW’s comparable sales also climbed 5.4 percent in Q4 — on top of the previous year’s same-period gains of 1.3 percent.
“We built a compelling product assortment, including the expansion of DSW Kids, a differentiated services offering with our W Nail Bar partnership and the relaunch of our award-winning loyalty program,” said CEO Roger Rawlins. “At the same time, we strategically positioned our company to grow share and enhance profitability through transformative acquisitions, creating an infrastructure that positions us to be a significant force in the footwear industry for years to come.”
Among last year’s troubles, the retailer noted inventories per square foot (excluding

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Via:: https://footwearnews.com/2019/business/earnings/dsw-stock-q4-2018-earnings-investor-day-1202762214/