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DSW raises fiscal 2010 annual earnings outlook

29
Apr '10
DSW Inc., a leading branded footwear specialty retailer, estimates first quarter comparable store sales of approximately 16% based on performance through the first twelve weeks of fiscal 2010 ended April 24, 2010.

• Based on performance through the first twelve weeks of fiscal 2010, the Company estimates first quarter comparable store sales of approximately 16%.
• The Company now estimates annual comparable store sales of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010.
• The estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010.

As a result, the Company now estimates annual comparable store sales of approximately 6% to 8% and annual diluted earnings per share of approximately $1.65 to $1.75 for fiscal 2010. This is updated from the Company's previous estimate of annual comparable stores sales in the low-single digit range and annual diluted earnings per share of approximately $1.35 to $1.45 for fiscal 2010. Fiscal 2009 annual diluted earnings per share were $1.23.

The estimated year-over-year earnings increase is expected to occur in the first six months of fiscal 2010. The annual guidance assumes the earnings growth will moderate in the second half as it compares to strong sales and margin results for the same period a year ago.

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 April 27, 2010, DSW operated 311 stores in 39 states and operated an e-commerce site.

DSW Inc


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