DSW stock skids after fiscal 4Q earnings miss Street estimates despite revenue beat
DSW Inc (NYSE:DSW) stock tumbled Tuesday after the discount footwear retailer’s fiscal fourth quarter earnings missed analysts’ expectations despite a revenue beat.
Shares in DSW fell 12.8% to $22.12.
The Columbus, Ohio-based company posted a fiscal fourth quarter January 2019 loss of $0.07 per share on revenue of $843.4 million. The consensus earnings estimate was $0.03 per share on revenue of $840.6 million, and same-store sales growth of 5.4% beat expectations of a 4.9% rise. Revenue grew 17.1% on a year-over-year basis.
READ: DSW pops after whizzing past Street’s fiscal 3Q estimates and lifting full-year guidance
For fiscal 2018, the net loss per share was $0.26, after a profit of 84 cents in 2017; excluding non-recurring charges, adjusted EPS was $1.66, below the consensus estimate of $1.78.
DSW said adjusted EPS included a loss of $0.12 cents from the winding down of operations for exited businesses.
Despite the full year profit whiff, the company said it was optimistic as it had created infrastructure which positioned it to be a “significant force in the footwear industry for years to come.”
“We crossed the $3 billion revenue threshold for the first time and drove a +6% increase in comparable sales as we strengthened connections with our customers. 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 DSW Inc CEO Roger Rawlins.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/216768/dsw-stock-skids-after-fiscal-4q-earnings-miss-street-estimates-despite-revenue-beat-216768.html
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