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Stock Market & Financial Investment News

News Breaks
February 11, 2014
07:33 EDTDSWDSW reports Q4 comparable sales flat compared to 3.6% increase last year
Excluding luxury sales of $1 million, total adjusted revenues decreased by 3.9% to $571 million, for the thirteen week period ended February 1, 2014 versus $594 million for the fourteen week period ended February 2, 2013.
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April 17, 2014
07:08 EDTDSWDSW appoints Mary Meixelsperger as CFO effective May 1
Meixelsperger replaces Douglas Probst, who is retiring from DSW on the same day. Meixelsperger joins DSW from Shopko Stores, a regional discount store chain, where she held the roles of Chief Financial Officer, Controller and Treasurer.
April 15, 2014
06:33 EDTDSWDSW acquires approximately 44% interest in Town of shoes in Canada
DSW Inc. and Town Shoes announced that they have entered into a definitive agreement whereby DSW Inc. will purchase for cash approximately 44% interest in Town Shoes for approximately $62M. The transaction has been approved by each company's board and is expected to close in May. DSW Inc. is purchasing its initial 44% stake from AIMCo and may acquire additional shares from certain other minority shareholders as part of its initial investment. Additionally, DSW Inc. will have the right to purchase the balance of Town Shoes from the remaining shareholders, including Callisto Capital, after four years at a pre-determined EBITDA multiple. Callisto, on behalf of itself and the remaining shareholders, has the right to put the balance of the company to DSW Inc. after three years at a pre-determined EBITDA multiple. DSW Inc.'s initial stake provides 50% voting control and board representation, both of which are equal to that of Callisto. The transaction, which the company anticipates to record under the equity method, is expected to be slightly accretive to earnings in FY14, excluding one-time transaction expenses.
06:30 EDTDSWDSW acquires approximately 44% interest in Town of shoes in Canada
April 8, 2014
09:04 EDTDSWDSW division is new exclusive retail operator for the Yellow Box brand
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