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Why DSW Inc. Stock Dropped Today

TheMotleyFool

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Why DSW Inc. Stock Dropped TodayPhoto, wide shot, wide-angle lens, Department store, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/57f223bf-67a0-476b-94dd-76010fccb266.png

Shares of DSW Inc. (NYSE: DSW) were down 12% as of 11:45 a.m. EST Tuesday after the footwear retailer announced weaker-than-expected third-quarter 2017 results.

More specifically, DSW's quarterly revenue climbed 3.3% year over year to $680.4 million, including 0.6% comparable-sales growth. On the bottom line, that translated to adjusted net income of $30.6 million, or $0.38 per diluted share, up from $29.1 million, or $0.35 per share in the same year-ago period. Both figures were below investors' expectations for earnings of $0.53 per share on revenue of $709.6 million.

IMAGE SOURGE: DSW.

Source: Fool.com