DSW Wins Big in Q2
Retailer DSW reported better-than-expected fiscal second-quarter financial results before the markets opened on Tuesday.
DSW Inc. (NYSE: DSW) reported its fiscal second-quarter financial results before the markets opened on Tuesday. The firm said that it had $0.38 in earnings per share (EPS) and $680.4 million in revenue, compared with consensus estimates of $0.29 in EPS and revenue of $666.07 million. The same period of last year reportedly had EPS of $0.35 and $658.94 million in revenue.
During the most recent quarter, comparable sales increased 0.6%, compared to last year’s 1.2% decrease.
In terms of the outlook for the full year, management expects to see EPS in the range of $1.45 to $1.55. The consensus estimates call for $1.44 in EPS and $2.79 billion in revenue.
On the books, DSW cash and investments totaled $271 million at the end of the quarter, up from to $244 million in the same period from last year.
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Roger Rawlins, CEO of DSW, commented:
We are deepening our customer connection with unique product and meaningful experiences that will define Designer Shoe Warehouse as the trusted authority for all things footwear. The current retail consolidation provides significant opportunity to acquire market share, and in the next 12 months, we will unveil several exciting new initiatives that will inspire emotional loyalty with the DSW brand. At the same time, we are building the infrastructure to mobilize inventory across all of our brands and enable us to better serve our customers. We are confident these initiatives will grow sales, cash flow and profitability long-term.
Shares of DSW were last seen up more than 22% at $19.24, with a consensus analyst price target of $18.20 and a 52-week range of $15.14 to $26.22.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
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