NEWS: DSW Inc.'s shares fell Tuesday after the shoe seller reported disappointing fiscal third-quarter revenue and gave a modest full-year forecast.
DETAILS: The company said that the season got off to a slow start but that traffic and sales picked up at the end of the quarter. Its revenue from established stores, considered a key indicator of financial performance as it strips away recently opened or closed sites, decreased 0.7 percent.
NUMBERS: DSW's net income increased to $55 million, or 60 cents per share, for the quarter that ended Nov. 2. That's up from $50.1 million, or 55 cents per share, last year. On an adjusted basis, its earnings rose to 58 cents per share from 51. Revenue increased 7 percent to $633 million.
Analysts polled by FactSet were expecting earnings of 58 cents per share on revenue of $647.6 million.
FUTURE: The company said it expects to earn between $1.80 and $1.90 per share for the year, based on flat revenue from established stores. Analysts had expected $1.90 per share.
STOCK: Shares of the Columbus, Ohio-based company fell 5 percent to $44.77 by midday amid a broader market uptick.
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