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Footwear specialty retailer DSW updates annual outlook
27
Aug '09
DSW Inc., a leading branded footwear specialty retailer, announced net income of $7.6 million on net sales of $369.5 million for the quarter ended August 1, 2009, compared with net income of $11.0 million on net sales of $357.2 million for the quarter ended August 2, 2008. Same store sales decreased 2.9% versus a decrease of 6.9% last year.

Diluted earnings per share were $0.17 for the second quarter of fiscal 2009 compared with diluted earnings per share of $0.25 last year.

Six Month Results
Net income was $14.7 million on net sales of $755.3 million for the six months ended August 1, 2009, compared with net income of $21.2 million on net sales of $723.4 million for the six months ended August 2, 2008. Same store sales decreased 3.8% for the comparable six month period versus a decrease of 6.2% last year.

Diluted earnings per share were $0.33 for the six months ended August 1, 2009, compared with $0.48 for the same period last year.

Fiscal 2009 Outlook
For the fiscal year ending January 30, 2010, the Company reiterated its estimate of a mid-single digit decrease in comparable store sales. Based on the performance through the second quarter reported, annual 2009 diluted earnings per share are now estimated to be in the range of $0.37 to $0.45, updated from the Company's previously announced estimate of $0.30 to $0.35.

DSW Inc


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