Mar 20, 2012
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DSW quarterly results beat estimates

Mar 20, 2012

DSW Inc posted a quarterly profit that beat analysts' estimates for the fourth consecutive quarter as discounts on designer shoes helped the footwear retailer attract more value-conscious customers to its stores.

DSW store in Michigan (photo by Dwight Burdette)

The company, which sells branded footwear for men and women at affordable rates, posted a fourth-quarter profit of $19.4 million, or 37 cents a share, compared with $0.2 million, or 1 cent a share, a year ago.

Excluding items, it earned 51 cents a share.

Revenue rose about 10 percent to $513.7 million. Same-store sales increased 5.6 percent.

Analysts, on average, had expected earnings of 49 cents a share, on revenue of $511.2 million, according to Thomson Reuters I/B/E/S.

For the year 2012, the company expects earnings of $3.20 to $3.35 a share, while analysts were expecting a profit of $3.31 a share.

Columbus, Ohio-based DSW's shares, which have risen about 28 percent this year, closed at $54.33 on Monday on the New York Stock Exchange.

Reporting by Ranjita Ganesan; Editing by Supriya Kurane

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