Heavy weather hits DSW's Q4

Investor's Business Daily

The off-price shoe retailer said Q4 EPS rose 35% to 69 cents, but missed views by 3 cents. Sales climbed 16% to $594.3 mil, under views of $601.8 mil. Same-store sales rose 3.6%. Superstorm Sandy had an $8 mil negative impact on sales results and weather continues to be an issue for DSW (DSW). Large storms in the Northeast kept shoppers at home. DSW said same-stores sales have dipped 5% during Q1. DSW expects full-year same-store sales to be flat and sees EPS of $3.30-$3.40 vs. analysts expectations of $3.85. DSW shares fell 6.2% to 62.90.

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