NEW YORK (TheStreet) -- DSW Inc (DSW - Get Report) stock is plummeting on Wednesday after the shoe retailer reported a first quarter below analysts' estimates. By market open, shares had tanked 23% to $25.05.
Over its April-ending quarter, the company earned 42 cents a share, 6 cents below what analysts surveyed by Thomson Reuters expected. Revenue edged 0.5% higher to $598.95 million but fell short of estimates of $622.33 million.
Additionally, management guided for full-year earnings between $1.45 and $1.60 a share, assuming low single-digit comparable sales declines. Analysts expected an average $1.90 a share.
- You can view the full analysis from the report here: DSW Ratings Report
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