DSW stock was falling hard on Tuesday following the release of its earnings report for the fourth quarter of 2018.
DSW (NYSE:DSW) reported losses per share of 7 cents during the fourth quarter of the year. This is a major drop from the company’s earnings per share of 38 cents from the same time last year. It was also a blow to DSW stock by missing Wall Street’s earnings per share estimate of 4 cents for the quarter.
The DSW earnings report for the fourth quarter of 2018 also includes a net loss of $45.73 million. This is down from the company’s net income of $11.95 million reported in the fourth quarter of 2017.
Operating loss reported by DSW in the fourth quarter of the year comes in at $57.02 million. The U.S. retailer of footwear reported operating income of $34.17 million during the same period of the year prior.
DSW earnings for the fourth quarter of 2018 also have revenue coming in at $843.37 million. This is up from the company’s revenue of $724.68 million reported in the fourth quarter of the previous year. It also has the company beating out analysts’ revenue estimate of $841.53 million for the period, but that wasn’t enough to keep DSW stock from falling today.
For the full year of 2018, DSW reported earnings per share of $1.66 on revenue of $3.18 billion. The company’s earnings per share and revenue from the previous year was $1.52 and $2.81 million. Wall Street was looking for earnings per share of $1.76 on revenue of $3.18 billion for 2018.
DSW stock was down 12% as of Tuesday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.