DSW Inc (DSW) Tuesday reported fourth-quarter revenue of $843.4 million, up 16.4% year-over-year, but missing the street expectation of $848.96 million. Comp-store sales reported a growth of 5.4%.
On an adjusted basis, the footwear retailer swung to a loss of 7 cents per share in Q4, from a profit of 38 cents per share in the year-over period. Analysts were expecting earnings of 3 cents per share.
DSW shares fell over 7% during pre-market trading immediately following the announcement. The stock has gained 16% in the trailing 52 weeks.
CEO Roger Rawlins said, “Fiscal 2018 was one of the best years in our company’s history from a comparable sales and earnings growth standpoint. 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.
The Columbus, Ohio-based retailer also abstained from giving a quarterly or full year-guidance.
Earlier this month, shares of rival Foot Locker (FL) jumped 13% after beating the market estimates on both the top and bottom line in Q4. Comparable-store sales rose by 9.7%. Nike (NKE) will be publishing its third-quarter earnings on March 21 after the regular trading hours.
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