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Second quarter comparable store sales up at DSW
07
Aug '10
DSW Inc., a leading branded footwear specialty retailer, announced net sales for the second quarter ended July 31, 2010 increased 12.3% to $415.1 million compared with $369.5 million for the quarter ended August 1, 2009. Same store sales increased 12.0% for the comparable period versus a decrease of 2.9% last year.

• Second quarter comparable store sales increased 12.0%.
• The Company now estimates annual comparable store sales of approximately 7% to 9% and annual diluted earnings per share of approximately $1.80 to $1.95 for fiscal 2010, up from $1.23 in fiscal 2009.

Net sales for the twenty-six week year-to-date period ended July 31, 2010 increased 14.5% to $864.7 million compared with $755.3 million for the twenty-six week year-to-date period ended August 1, 2009. Same store sales increased 14.1% for the comparable twenty-six week period versus a decrease of 3.8% last year.

The Company now estimates an annual comparable store sales increase of approximately 7% to 9% and annual diluted earnings per share of approximately $1.80 to $1.95 for fiscal 2010.

This is updated from the Company's previous estimate of an annual comparable store sales increase of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010. Fiscal 2009 annual diluted earnings per share were $1.23.

DSW Inc


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