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DSW owner swings to profit in Q4
Columbus, Ohio -- Retail Ventures, parent of off-price shoe retail chain DSW, reported Monday that net income for the quarter ended Jan. 29 was $5.7 million, compared with a loss of $5.3 million a year earlier.
Sales for the quarter were $468.5 million, up from $402.6 million in the year-ago period. DSW same-store sales increased 14.9%.
For the full year, net income was $51.8 million, compared with a loss of $65.6 million the year before. Sales were $1.82 billion, compared with $1.60 billion for the prior year. -
Report: Blockbuster to close another 186 stores
Dallas -- A Wall Street Journal report on Monday said that, according to court filings, Blockbuster will start closing 186 more stores by the end of the month, bringing the number of its U.S. locations closed or slated for closure to 1,145, or more than a third of its total, since the video-rental chain filed for bankruptcy protection in September.
In filings Friday with the U.S. Bankruptcy Court in Manhattan, Blockbuster said it will reject the leases on 186 of its stores by March 31.