According to Citi, DSW DSW reported 1Q adjusted EPS of $0.87 (ex merger related expenses) versus the $0.75 estimate and consensus of $0.75.
Citi said that that excludes $1.4 million in expenses related to the RVI merger, which lowered 1Q EPS by $0.02. “Gross margins were up 140bps likely driven by buying and occupancy leverage on the double digit comp. SG&A levered by 50bps ex the merger related costs. Compares ease as we move into 2Q and we continue to believe the company is well positioned to drive HSD/LDD comps over the next couple of quarters.”
DSW closed yesterday at $43.19.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in