DSW losses

NEW YORK

Columbus-based shoe chain DSW Inc. on Tuesday reported a surprise loss for its fiscal fourth quarter as it digested costs from acquisitions. It also offered a disappointing earnings forecast for the current year.

The results come as the chain plans to change its corporate name to Designer Brands Inc. Its ticker symbol is set to change to DBI on April 2.

Last year, the company purchased the Camuto Group which owns licensing rights for Jessica Simpson and Lucky Brand footwear and handbag licenses. DSW has been adding services like nail salons and plans to build exclusive brands and products in response to Amazon increasing its market in shoes and Payless ShoeSource closure of 2,500 stores in North America.

Staff/wire reports