Shares of DSW Inc. (DSW, Financial) fell more than 6% after reporting first-quarter earnings per share of 39 cents on $710.44 million in revenue. The company managed to beat revenue expectations by $27.88 million and earnings estimates by four cents.
"We are pleased this quarter to report our second consecutive positive comp for DSW Inc. and the fourth positive footwear comp in the DSW brand," CEO Roger Rawlins said. "With our solid first-quarter results, we have delivered a 4% revenue increase and a 16% earnings increase over the last 12 months, marking an exciting return to growth for the DSW brand."
Looking ahead, the company maintained its full-year outlook for adjusted earnings in the range of $1.52 to $1.67 per diluted share.
Shares of Analog Devices Inc. (ADI, Financial) advanced nearly 1% on the heels of the company reporting its financial results for the second quarter. The company posted earnings per share of $1.45. Revenue grew 24.8% from the prior-year quarter to $1.5 billion. Moreover, the company managed to beat earnings expectations by seven cents and revenue estimates by $40 million.
“Revenue from our B2B markets increased double digits year-over-year led by our industrial and communications sectors,” President and CEO Vincent Roche said.
Looking ahead to the third quarter, the company expects revenue to be in the range of $1.47 billion to $1.55 billion.
Chico's FAS Inc. (CHS, Financial) nosedived more than 18% after reporting first-quarter earnings per share of 23 cents on revenue of $561.82 million. While the company fell three cents short of earnings estimates, it managed to beat revenue expectations by $9.83 million.
For the quarter, the gross margin was $226.9 million, or 40.4% of net sales, compared to $237.4 million, or 40.7% of net sales, in the first quarter of last year. The decrease reflects the initial implementation costs and launch of a new expedited shipping program, partially offset by an improvement in the maintained margin.
Disclosure: The author holds no positions in any stocks mentioned.
