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DSW Same store sales drop in Q1

29
May '08
DSW Inc, a leading branded footwear specialty retailer, announced net income of $10.3 million on net sales of $366.3 million for the first quarter ended May 3, 2008, compared with net income of $23.7 million on net sales of $357.0 million for the first quarter ended May 5, 2007. Same store sales decreased 5.4% for the comparable period versus a decrease of 3.6% last year.

Diluted earnings per share were $0.23 for the first quarter this year compared with $0.54 last year.

2008 Outlook:
For the fiscal year ending January 31, 2009, the Company reiterated its previous guidance of estimated annual comparable store sales in the negative mid-single digits and annual earnings per diluted share in the range of $0.75 to $0.85. The Company maintains its plans to open at least 30 DSW stores during the year.

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.

DSW Inc


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