DSW Inc. (DSW) Raises FY EPS Outlook After Positive Same-Store Sales
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DSW Inc. (NYSE: DSW) estimates comparable store sales of approximately positive 6% to 8% for the third quarter ending October 31, 2009. The Company experienced increased traffic and conversion since the end of the second quarter, resulting in positive comparable store sales.
As a result of better-than-expected sales performance, margin improvement and operational expense leverage for the ten week period ended October 10, 2009, the Company now estimates flat annual comparable store sales and annual diluted earnings per share of $0.70 to $0.80 for fiscal 2009. This is updated from the Company's previous estimate of annual comparable store sales in the negative mid-single digits and annual diluted earnings per share of $0.37 to $0.45 for fiscal 2009. (Consensus is $0.44)
Although its outlook for the third quarter has improved, the Company remains cautious in its expectations for the fourth quarter as it expects the economic environment to remain challenging.
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