DSW (DSW) Shares Down Nearly 8% Despite Strong Sales Growth
By Daniel James Hayden IV
March 16, 2010 11:18 AM
March 16, 2010 11:18 AM
Swinging to a 4th quarter profit and having strong sales growth didn't keep shares of DSW Inc. (NYSE: DSW) from falling after the company reported earnings that missed analyst target estimates.
DSW Inc. reported a 4th quarter profit of $13.4 million, or 30 cents per share, compared to a loss of $7.5 million, or 14 cents per share, a year earlier.
The footwear retailer reported same-store sales growth of 12.9% and overall sales growth of 15.6% to $402.6 million.
However, analysts had expected a profit of 32 cents per share.
DSW Inc. gave guidance that it expects to earn from $1.35 to $1.45 per share for the coming year.
DSW was trading at $26.87, down nearly 9% for the day in early afternoon trading.
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