DSW Inc's quarterly profit beat estimates as more customers showed up at its stores looking for discounts, and the shoe retailer raised its full-year outlook. The Columbus, Ohio-based retailer now expects annual diluted earnings of $2.70-$2.85 for the full year. It had earlier forecast earnings in the range of $2.65-$2.80.
Excluding items related to DSW's merger with RVI which closed in the quarter, it earned 74 cents a share in the second quarter. Sales at the company, which sells branded footwear for men and women at discounted rates, rose 14.7 percent to $476.3 million.
Analysts, on average, had expected the retailer to earn 63 cents a share on revenue of $459.4 million, according to Thomson Reuters I/B/E/S.
The stock is up $2 in premarket trading to $49.20.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment