DSW Inc. Stock Surges on Positive Q4 Earnings
DSW Inc. (NYSE: DSW ) stock was up on Tuesday following the release of its earnings report for the fourth quarter of 2017.
During the fourth quarter of the year, DSW Inc. reported earnings per share of 38 cents. This is an increase over its earnings per share of 20 cents reported in the same period of the year prior. It was also a boon to DSW stock by beating out Wall Street's earnings per share estimate of 27 cents for the quarter.
DSW Inc.'s net income for the fourth quarter of 2017 was $11.70 million. The footwear retailer reported net income of $30.53 million for the fourth quarter of 2016. DSW notes that it was hit with a one-time charge of $10.10 million during the quarter form the recent tax reform.
Operating profit reported by DSW Inc. for the fourth quarter of the year was $33.91 million. This is down from its operating profit of $48.95 million that was reported in the fourth quarter of the previous year.
Revenue reported by DSW Inc. for the fourth quarter of 2017 was $719.96 million . This is up from the company's revenue of $674.62 million from the same time last year. However, it came in below analysts' revenue estimate of $728.17 million for the period.
DSW Inc. also provides its outlook for the full year of 2018 in its most recent earnings report. The company is expecting earnings per share for the year to range from $1.52 to $1.67. Wall Street is looking for earnings per share of $1.64 for the year.
DSW Inc. says that it is expecting revenue for 2018 to increase by 1% to 3% when compared to 2017 revenue. 2017 revenue was $2.80 billion. Analysts are estimating revenue of $2.84 billion for the full year of 2018.
DSW stock was up 8% as of Tuesday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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