DSW makes changes after poor results
26/03/2009
US footwear chain DSW, which specialises in offering designer shoes in a large-volume, self-service format, has appointed a new chief executive.
Shopko Stores chief executive, Michael MacDonald, will take over the role in April, replacing Jay Schottenstein.
The announcement came in the wake of DSW reporting a weaker-than-expected result for the most recent quarter, ending January 31, saying that it wanted to hold back from an earnings forecast for the whole year owing to uncertainty in the US economy. Its result for the quarter was a net loss of $7.5 million.
Mr Schottenstein will remain as DSW chairman.
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