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DSW Tops Q2 Expectation

Shares of DSW Inc. (NYSE: DSW) rallied on Tuesday after the footwear retailer reported 15% increase in fiscal second quarter net income, aided by higher sales. For the quarter which ended August 3, the Columbus OH based company posted a profit of $33.7 million or 73 cents a share compared to a net income of $29.3 million or 65 cents a share, in the same quarter of last year. Stripping out onetime items such as expenses linked to luxury test and legacy charges related to an acquisition of RVI, the adjusted earnings stood at 97 cents a share up from 66 cents a share, in the year-earlier quarter. Sales climbed 9.7% to $562.1 million. Analysts’ consensus estimate was for earnings of 80 cents a share on revenue of $560 million.

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