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Footwear specialty retailer DSW updates annual outlook
26
Nov '09
DSW Inc. a leading branded footwear specialty retailer, announced net income of $26.6 million on net sales of $444.6 million for the quarter ended October 31, 2009, compared with net income of $13.2 million on net sales of $391.4 million for the quarter ended November 1, 2008. Same store sales increased 8.7% versus a decrease of 4.1% last year.

Diluted earnings per share were $0.60 for the third quarter of fiscal 2009 compared with diluted earnings per share of $0.30 for the same period last year.

Nine Month Results

Net income was $41.3 million on net sales of $1.2 billion for the thirty-nine weeks ended October 31, 2009, compared with net income of $34.4 million on net sales of $1.1 billion for the thirty-nine weeks ended November 1, 2008. Same store sales increased 0.4% for the comparable thirty-nine week period versus a decrease of 5.5% last year.

Diluted earnings per share were $0.93 for the thirty-nine weeks ended October 31, 2009 compared with diluted earnings per share of $0.78 for the same period last year.

Fiscal 2009 Outlook

Based on the performance through the third quarter reported today, the Company now estimates annual 2009 diluted earnings per share of $0.90 to $1.00 and annual comparable store sales of approximately 1%. This is updated from the Company's previous estimate of annual 2009 diluted earnings per share of $0.70 to $0.80, and flat annual comparable store sales.

DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear for women and men. As of November 24, 2009, DSW operated 306 stores in 39 states and operated an e-commerce site. DSW also supplied footwear to 356 leased locations in the United States.

DSW Inc


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