Investors Walk All Over DSW
DSW returns to profit, but misses Wall Street's forecast, sending shares tanking.
NEW YORK (
) -
DSW
(DSW) - Get Report
is being trampled after it reported fourth-quarter profit that missed Wall Street's expectations.
DSW swung into profit in the fourth-quarter, recording $13.4 million, or 30 cents a share, but this was two cents shy of analysts' estimates. Last year, the footwear retailer posted a loss of $7.5 million, or 14 cents a share.
DSW's sales jumped 15.6% to $402.6 million from $348.2 million, while same-store sales soared 12.9%.
Looking ahead, DSW forecasts full-year earnings in the range of $1.35 to $1.45 a share, in-line with analysts 'estimates.
Shares in DSW are tanking 9% to $26.83 in morning trading.
-- Reported by Jeanine Poggi in New York.
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