DSW 4Q Profit Falls Sharply

Columbus, Ohio DSW Inc. said Thursday fiscal fourth-quarter profit fell sharply as same-store sales fell 1.7% in the period.

Net profit for the quarter ended Feb. 2 dropped to $1.1 million from $16.6 million a year ago.

The latest quarter had 13 weeks vs. 14 weeks in the prior-year period.

Sales rose to $332.5 million from $329.1 million last year, missing Wall Street estimates of $333.8 million.

For the year, profit fell to $53.8 million from $65.5 million last year. Sales climbed to $1.41 billion from $1.28 billion.

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