DSW Inc (DSW) shares are trading lower this morning after reporting quarterly results that missed analysts' expectations. For its fourth quarter, the footwear and accessories retailer reported adjusted earnings per share of 69c against estimates for 72c on revenue of $584.3M against estimates for $601.88M. For the 13-week period, same-store sales increased 3.6% compared to an increase of 5.6% in the year-ago period. Looking ahead, the company said its sales trends softened in the first six weeks of this fiscal year, with SSS down by 5% in the period. The company estimates fiscal year 2013 EPS of $3.30-$3.40, excluding any impact from the merger with RVI and the company's luxury initiative, assuming flat FY SSS; the FY13 EPS consensus is $3.85. DSW said it is managing merchandise receipts and inventories assuming flat SSS in the first half of the fiscal year. On its earnings conference call, DSW estimated that Superstorm Sandy negatively impacted Q4 sales results by $8M. The company said that making its luxury offering a larger and more permanent part of its assortment has the potential to be a profitable addition to the business, and the company also plans to roll out fashion jewelry to most of its stores beginning in 2014. DSW does not expect apparel will be part of its go-forward assortment. Commenting on weakness since the beginning of the year, the company said it has seen a "material decline" in traffic, starting "almost at the onset of the fiscal year," and attributed that to weather and other factors. In mid-morning trading, DSW slipped $4.84, or 7.22%, to $62.21.