Net income dropped 77% to $10,205,000 in the third quarter from $45,171,000 on sales that were down 9% to $786,329,000 from $865,020,000, including total comps that declined 9.3%. U.S. retail sales at DSW fell 11% to $631.6 million, comping down 9.8%, while Canada retail was off 9% to $75.6 million, turning in a -7.7% comp. Unfavorable weather sent seasonal styles down in the double-digits, partially offset by a mid-singles gain in casual, though the clearance channel declined 3%.

The Nike rollout was completed in Nov. after some allocations arrived a month early ... Log in to view full article.