DSW announces that it missed Wall Street expectations because of a weak economy, declining consumer confidence, and lackluster products. Furthermore, the company declined to provide an outlook for the rest of 2008 because of uncertain market econditions. The stock dipped to an all-time low because of the weak reported income ($1M as opposed to $16M the year before) and because of a decline in revenues (same-store sales fell 1.7%). Reuters, "DSW posts Q4 profit below Street view, shares plunge"
DSW Inc reduced its outlook for the year 2007, which resulted in a decline in the company’s stock price. The company reduced its outlook for its earnings as well as annual comparable store sales. The company expects earnings to be 10% below the $1.48 reported last year. DSW had given an earlier guidance of $1.63-1.68 while analysts were expecting earnings of $1.55 a share.
