UPDATE: DSW Posts Upbeat Q2 Profit
DSW (NYSE: DSW) reported a drop in its second-quarter profit.
DSW's quarterly profit declined to $29.3 million, or $0.65 per share, versus $139.9 million, or $3.96 per share, in the year-earlier period. Its adjusted profit came in at $0.66 per share.
Its sales gained 7.5% to $512.2 million. However, analysts were expecting earnings of $0.62 per share on sales of $511.2 million.
For the full year, DSW continues to project earnings of $3.25 to $3.40 per share, versus analysts' estimates of $3.28 per share.
DSW shares dropped 2.25% to close at $61.23 yesterday.
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