DSW reports Q4 loss, full-year profit cut in half

Columbus, Ohio DSW reported a fourth-quarter loss on a sharp drop-off in same-store sales.

The retailer posted a loss of $7.5 million, compared with income of $1.1 million in the same quarter a year earlier.

Sales climbed 5% to $348.2 million, from $332.5 million. Same-store sales slid 7.2%.

For the year, net income fell to $26.9 million, from $53.8 million in the previous year. Sales grew to $1.46 billion from $1.41 billion.

DSW did not give a full-year earnings forecast due to current economic conditions, but said it expects a same-store sales decline by a percentage in the mid-single digits. It anticipates opening about 10 new stores, compared with 41 stores in 2008.