World Footwear

Companies

DSW presents sales growth

Dec 13, 2014 United States
DSW presents sales growth
Ohio-based company announced reported sales increasing by 5.8% to 669.9 million US dollars in the thirteen week period ended 1st November. Adjusted sales for the period increased by 7.2%

Mike MacDonald, DSW President and Chief Executive Officer commented: ''We were pleased with the progress we made in the quarter, particularly the improvements in top line performance. Sales in all major categories accelerated compared to first half performance. We are especially encouraged by the performance of women's footwear, which posted its first positive comparable sales increase since the second quarter of 2013. The merchandise initiatives we began to implement at the start of the year are gaining traction."

DSW's reported sales increased 5.8% to 669.9 million US dollars (compares to last year's sales of 633.0 million US dollars) and adjusted sales increased by 7.2% to 669.9 million US dollars (compares to last year's sales of 624.6 million US dollars), which excludes sales from the Company's luxury test.

Reported net income was 49.6 million US dollars or 0.55 US dollars per diluted share (compares to reported 55.0 million US dollars, or 0.60 US dollars per diluted share, in similar period last year).

As for the nine months period ended 1st of November reported sales increased 3.3% to reach 1.86 billion US dollars compared to last year's sales of 1.80 billion US dollars. Adjusted sales increased 4.3% to 1.86 billion US dollars compared to last year's sales of 1.78 billion US dollars, which excludes sales from the company's luxury test.

Reported net income for the period was 122.5 million US dollars, or 1.35 US dollars per diluted share (compares to reported net income in the same period last year of 123.2 million US dollars, or 1.34 US dollars per diluted share).

On November 25th, DSW’s Board of Directors declared a quarterly cash dividend payment of 0.1875 US dollar per share, due to be paid on December 31st.

For the fifty-two week fiscal year ending 31st January 2015, the company expects adjusted earnings per share to range from 1.55 US dollars to 1.65 US dollars per share compared to the previous guidance of 1.50 US dollars to 1.65 US dollars per share. This assumes slightly positive comparable annual sales growth and annual revenue growth in the mid-single digit range. This guidance includes a tax rate slightly below 39% and diluted shares outstanding of 90.5 million.

Company’s shares were last traded at 35.44 US dollars at the New York Stock Exchange on the 11th December.

For more information about DSW Inc. please refer to the company’s website.

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