News Flash

DSW announces net income of $23.7mn for Q1

07 Jun '07

2 min read

DSW Inc, a leading branded footwear specialty retailer, announced net income of $23.7 million on net sales of $357.0 million for the first quarter ended May 5, 2007, compared with net income of $17.5 million on net sales of $316.5 million for the first quarter ended April 29, 2006. Same store sales decreased 3.6% for the comparable thirteen-week period versus an increase of 4.2% last year.

Diluted earnings per share were $0.54 for the first quarter of 2007 compared with $0.40 for last year's first quarter.

2007 Outlook:
Based on the performance through the first quarter reported, the Company is maintaining its current estimate for fiscal 2007 annual diluted earnings per share in the range of $1.63 to $1.68, and reducing its estimate for annual comparable store sales to the range of 0% to 3%. The Company plans to open at least 30 DSW stores during the year.

Webcast and Conference Call:
To hear the Company's live first quarter earnings conference call, log on to DSWshoes website at 5:00 p.m. ET Wednesday, June 6, 2007.

To hear a replay of the earnings call, which will be available approximately two hours after the conference call ends. An audio replay of the conference call, as well as additional financial information, will also be available at DSWshoes website.

DSW Inc

More DSW Inc News... More Fashion News - United States Of America...