DSW, Inc. (DSW) Tops Q3 EPS by 3c, Lifts Outlook
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DSW, Inc. (NYSE: DSW) reported Q3 EPS of $0.51, $0.03 better than the analyst estimate of $0.48. Revenue for the quarter came in at $697 million versus the consensus estimate of $711.6 million.
Comparable sales decreased by 2.0% compared to last year's decrease of 3.9%
DSW, Inc. lifts FY2016 EPS to $1.35-$1.45, versus the consensus of $1.39.
Roger Rawlins, Chief Executive Officer of DSW Inc. stated, "This quarter reflects the first step in our return to year over year earnings growth. After four consecutive declines, we reported a 16% increase in Adjusted Earnings Per Share this quarter. Tighter inventory management drove improvements in gross margin which, combined with effective expense management, resulted in an increase in net income. We've reduced clearance markdowns and we are positioned to generate more profitable sales in the holiday season."
Mr. Rawlins added, "Looking ahead, we remain steadfast in delivering consistent execution as we drive shareholder returns and capture market share in the long term."
For earnings history and earnings-related data on DSW, Inc. (DSW) click here.
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