COLUMBUS: DSW Inc. announced third quarter of fiscal year 2015 (3QFY15) results, wherein it posted earnings per share (EPS) of $0.44, above the analysts’ consensus of $0.43. The company reported $665.52 million in revenue, which missed the analysts’ consensus of $668.51 million. Same-store sales (SSS) were down 3.9%, against last year’s 2.6%.
In its fiscal year 2015 (FY15) outlook, the company mentioned that it expects EPS to be in the $1.40-1.50 range, as opposed to the consensus estimate of $1.47. Revenue growth is 4%, while SSS is forecasted to be flat.
DSW CEO and president Mike MacDonald stated that the quarterly performance was disappointing due to unseasonable warm temperatures, cautious consumer spending, and slower tourism. He commented: “We are intensifying our merchandising and marketing efforts to capture market share and drive traffic, while rigorously managing our expenses.” Following the results, DSW stock is trading up 1.78% at $23.46, as of 6:31 AM EST during the pre-market hours.
