Site last updated: Friday, April 19, 2024

Log In

Reset Password
MENU
Butler County's great daily newspaper

Shoe chain DSW posts 4Q loss

NEW YORK — Shoe chain DSW Inc. on Tuesday reported a surprise loss for its fiscal fourth quarter as it digested costs from acquisitions.

DSW, based in Columbus, Ohio, also offered a disappointing earnings forecast for the current year, which drove shares down more than 13 percent.

The results come as the chain said it plans to change its corporate name to Designer Brands Inc. as it expands its offerings. It’s slated to change its ticker symbol to DBI on April 2.

Last year, the company purchased Camuto Group, a shoe manufacturer that owns licensing rights for the Jessica Simpson footwear business and footwear and handbag licenses for Lucky Brand.

DSW has been adding services like nail salons, and plans to build exclusive brands and products. The moves come as Amazon has been increasing its market share in shoes.

More in Business

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS