Stock Monitor: New York & Co. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 20, 2018 / Active-Investors.com has just released a free earnings report on DSW Inc. (NYSE: DSW). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DSW. The Company reported its financial results on March 13, 2018, for the fourth quarter and full fiscal year ended February 03, 2018. The Company surpassed analysts' forecasts for earnings but missed estimates for revenues for Q4 FY17. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for New York & Company, Inc. (NYSE: NWY), which also belongs to the Services sector as the Company DSW Inc. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DSW most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For Q4 FY17, DSW's total sales reached $719.98 million, reflecting an increase of 6.72% from $674.62 million in Q4 FY16. The Company's revenue numbers fell behind analysts' consensus estimates of $723.2 million. The Company's consolidated comparable sales on a 13-week basis increased 1.30% in Q4 FY17 compared to a decrease of 7% in Q4 FY16.
During Q4 FY17, DSW's cost of sales was $529.52 million compared to $505.78 million in Q4 FY16. The Company had a gross margin of 26.50% in Q4 FY17, up from 25% in Q4 FY16. DSW's operating expenses hiked 5.86% to $153.63 million in the reported quarter from $145.12 million in the previous year's same quarter. DSW reported an operating profit of $33.91 million in Q4 FY17, 30.72% lower than $48.95 million in Q4 FY16.
DSW had a net income of $11.70 million, or $0.15 per diluted share, in Q4 FY17 compared to $30.53 million, or $0.38 per diluted share, in Q4 FY16. DSW's reported quarter results included costs related to Ebuys, restructuring, acquisition expenses related to Town Shoes, and the impact of the US Tax Reform. The Company's adjusted diluted earnings per share (EPS), after excluding these special items, was $0.38 in Q4 FY17, an increase of 90% from $0.20 in Q4 FY16. Excluding the impact of the 53rd week of $0.06 per diluted share, the Company's adjusted diluted EPS increased by 60% in the quarter under review. DSW's adjusted EPS was higher than analysts' consensus estimates of $0.27.
For the full fiscal year ended February 03, 2018, DSW reported net sales of $2.8 billion, reflecting an increase of 3.26% from $2.71 billion in FY16. The Company's comparable sales on a 52-week basis decreased 0.40% in FY17 compared to a 3% decrease in FY16. The Company's operating profit declined 37.57% to $124.96 million on a y-o-y basis in the reported year. DSW's net income was $67.30million, or $0.83 per share, in FY17, 45.96% lower than $124.54million, or $1.52 per share, in FY16. The Company's adjusted diluted EPS, excluding special items, was $1.52 in FY17, up 4.11% from $1.46 in FY16. The fiscal year 2017 marked the Company's first year of adjusted earnings growth since 2013.
DSW operates through two segments, namely (i) the DSW segment, which includes DSW stores and dsw.com, and (ii) the Affiliated Business Group (ABG) segment.
The DSW segment reported net sales of $664.20 million in Q4 FY17, an increase of 8.55% on a y-o-y basis. This segment reported a gross profit margin of 29.20% in the reported quarter, up 2.40% from 26.80% in the year ago same quarter.
The Affiliated Business Group (ABG) segment's net revenues were $55.78 million in Q4 FY17, 11.07% lower than in the previous year's same quarter. The segment had a gross loss margin of 6.70% in Q4 FY17 compared to a gross profit margin of 7.5% in Q4 FY16.
DSW had cash and cash equivalents of $175.93 million as on February 03, 2018, 58.99% higher than $110.66 million as on January 28, 2017. The Company's long-term liabilities reduced 20.44% to $138.73 million as on February 03, 2018, from $174.38 million as on January 28, 2017.
DSW repurchased 0.5 million shares for a total of $9.40 million in FY17, and had $524.1 million remaining under its share repurchase program at the end of FY17.
For the full fiscal year 2018 (52-week period ending February 02, 2019), DSW expects revenue growth to decrease by 1% to 3%, due to the exit of non-core businesses and the impact of the 53rd week. Excluding the exit of non-core businesses and the 53rd week, the Company expects its total revenues to increase by 2% to 4%. DSW expects adjusted diluted EPS to be in the range of $1.52 to $1.67 for FY18, which represents an increase of 4% to 14%, excluding the income from the 53rd week.
DSW's Board of Directors increased its quarterly cash dividend by 25% to $0.25 per share. The dividend was paid on April 06, 2018, to shareholders of record at the close of business as on March 23, 2018.
Stock Performance Snapshot
April 19, 2018 - At Thursday's closing bell, DSW's stock was slightly down 0.32%, ending the trading session at $21.48.
Volume traded for the day: 1.13 million shares.
Stock performance in the last three-month – up 1.75%; previous six-month period – up 14.19%; past twelve-month period – up 7.13%; and year-to-date – up 0.33%
After yesterday's close, DSW's market cap was at $1.75 billion.
Price to Earnings (P/E) ratio was at 22.40.
The stock has a dividend yield of 4.66%.
The stock is part of the Services sector, categorized under the Apparel Stores industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.