Company's earnings outlook for '09 below analysts prediction; shares fall in after-hours trading
Wednesday, May 27, 2009 5:04 PM
THE COLUMBUS DISPATCH
Columbus-based footwear retailer DSW Inc. today announced first quarter profits fell to $7.1 million, or 16 cents per share, from $10.3 million, or 23 cents per share, a year ago.
Revenue rose to $385.8 million from $366.3 million last year. Same store sales decreased 4.7 percent during the quarted that ended May 2.
The report beat the expectations of analysts surveyed by FactSet Research, who estimated a quarterly profit of 14 cents a share on revenue of $379.5 million.
The company estimates earnings for 2009 will be approximately 30 to 35 cents per share, while analysts estimated the figure at 46 cents a share.
The earnings report was issued after the market closed. Shares of DSW closed normal trading at $12.97 but fell 14.7 percent to $11.07 in after-hours trading
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