DSW cancels orders after “disappointing” quarter
25/11/2015
Chief executive, Mike MacDonald, said unseasonably warm temperatures, cautious consumer spending and slower tourism all affected sales at the group’s 400-plus stores across the US and Canada. Mr MacDonald admitted on announcing sales of $1.95 billion for the first nine months of 2015, almost 1% up on the figure for the same period last year, that DSW had cancelled orders.
Mr MacDonald will stand down at the end of this year, with current chief innovation officer, Roger Rawlins, taking over on January 1.
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