DSW Drops as Retailers Struggle to Recover From Winter Slump
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The weather is still chilling U.S. retailers.
Discount-shoe chain DSW Inc. and women’s-clothing retailer Chico’s FAS Inc. both blamed an unusually cold winter and steep discounts for weak results last quarter. DSW posted a 3.7 percent decline in same-store sales today, missing the 0.1 percent gain analysts had predicted, and cut its forecast. That sent its shares on their biggest plunge since the company went public almost nine years ago.