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Stock Market & Financial Investment News

News Breaks
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.
News For DSW From The Last 14 Days
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October 20, 2014
13:14 EDTDSWDSW's FY14 guidance more at risk today, says Sterne Agee
Sterne Agee said DSW's (DSW) FY14 EPS guidance is more at risk today following Steven Madden's (SHOO) guidance cut this morning. The analyst said lower price points and higher shipping costs are reflected in margin guidance but not the need for increased promotional activity.
October 12, 2014
17:55 EDTDSWWal-Mart, DSW could benefit from holiday sales, Barron's says
Wal-Mart (WMT) and DSW (DSW) could benefit from the recent forecast of a 4% increase in holiday spending, Barron's contends in a follow up article. Reference Link

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