Abnormal Volume Stocks To Watch On Thursday

Topping the list of stocks with abnormal volume in yesterday’s trading is DSW (NYSE: DSW), with 23.3x normal volume. In the prior session, DSW traded 29.78 million shares, versus normal volume of approximately 1.28 million. DSW, a leading branded footwear and accessories retailer, announced financial results for the thirteen week period ended May 3, 2014, which compare to the thirteen week period ended May 4, 2013. Mike MacDonald, President and Chief Executive Officer stated, “We had a challenging quarter due to unseasonal weather and an aggressively promotional retail environment. We sharpened our prices for key items while proactively managing our clearance levels during the quarter. Monthly sales trends were weak but improved sequentially during the quarter. Our team is working hard to deliver an effective assortment with a compelling value message and we expect these initiatives to gain traction in the back half of the year…” First quarter reported sales decreased 0.4% to $599 million. Comparable sales decreased 3.7%. First quarter reported and adjusted EPS totaled $0.42 per share. Full year adjusted EPS guidance is $1.45 to $1.60 per share, based on comparable sales decline in the low single digits.

http://www.forbes.com/sites/joelkornblau/2014/05/29/abnormal-volume-stocks-to-watch-on-thursday-7/