DSW Inc. (NYSE: DSW) stock fell over 6% (as of 30 May, 2:09 PM GMT-4; Source: Google finance) after the company’s lower after full-year profit guidance falls short, though has given better than expected results. The company has recently launched a new integrated and cross-channel loyalty program. In the first quarter 2018, cash and investments has totaled $269 million compared to $254 million. The inventories were $540 million compared to $575 million last year and decreased slightly on a cost per square foot basis. Overall, DSW in the first quarter of 2018, has reported the adjusted net income of $31.5 million, including a loss of $0.04 per share from residual Ebuys operations, which the company exited at the end of the first quarter.

Meanwhile, on May 10, 2018, DSW has completed the purchase of its remaining stake in Town Shoes of Canada for CAD 44.7 million (USD $35 million). The company has appointed William Jordan, Chief Administrative Officer of DSW Inc., as President of Town Shoes. The Company is also in the process of conducting a comprehensive review of the Town Shoes business and will provide future expectations for this business on its Second Quarter.

DSW in the first quarter of FY 18 has reported the adjusted earnings per share of $0.39, beating the analysts’ estimates for the adjusted earnings per share of $0.37. The company had reported the adjusted revenue growth of 2.9 percent to $712 million in the first quarter of FY 18, beating the analysts’ estimates for revenue of $681.89 million. This included $5.6 million from residual Ebuys operations.

Moreover, in the first quarter of 2018, the comparable sales for operations rose 2.2% over the same 13-week period ended May 6, 2017. The company’s reported gross profit, as a percentage of sales, increased by 40 bps due to the wind down of Ebuys. DSW’s reported operating expenses, as a percent of sales, rose by 100 bps, driven by marketing investments, Ebuys exit costs and transaction expenses with the acquisition of Town Shoes.

Additionally, DSW has declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on July 5, 2018 to shareholders of record at the close of business on June 21, 2018.

For FY 18, the company has maintained its full year outlook for adjusted earnings to be in the range of $1.52 to $1.67 per diluted share.