Before the opening bell on Tuesday, shares of shoe retailer DSW (DSW) surged after the company reported better-than-expected results for the fourth quarter.
DSW's Earnings in Brief
- DSW reported earnings of $30.8 million, or 34 cents per share, compared to $28.1 million, or 30 cents per share, last year.
- Excluding special items, EPS was 35 cents – above analysts’ view of 28 cents.
- Net sales rose 11.9% to $640 million. Analysts expected to see revenue of $614.47 million.
- Looking ahead to FY2015, the company expects to see sales growth between 7% and 8%. EPS is expected to be between $1.80 and $1.90 per share, while analysts expect to see $1.90.
Mike MacDonald, President and CEO commented: “We were gratified to report strong sales and profit growth in the fourth quarter. Our decisive actions earlier in the year in the areas of leadership, value, and marketing produced strong results. These actions produced the strongest comp performance in almost three years, with traffic gains in both store and digital channels. Further, we continue to invest in long term strategies that are making DSW more customer-centric and channel agnostic. We are excited to embark on the 2015 fiscal year with considerable momentum.”
DSW will pay its next 20 cent dividend on March 31. The stock is going ex-dividend on March 18.
Shares of DSW were up $2.40, or 6.51% during premarket trading Tuesday. The stock is down 1.21% YTD.