Footwear retailer DSW Inc. (DSW) reported Tuesday a two-fold increase in third-quarter profit that well surpassed Street view, helped by sharp growth in sales. The company also raised its outlook for the full year, expecting earnings to come in above analysts' estimate.
For the third quarter, net income doubled to $26.63 million or $0.60 per share from $13.18 million or $0.30 per share in the previous year. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share. Analysts' estimate typically excludes special items.
Net sales for the quarter surged to $444.62 million from $391.36 million. Five analysts were expecting revenue of $424.58 million in the third quarter. Same store sales climbed 8.7%, compared to a decrease of 4.1% in the past year.
Operating profit surged year-over-year to $44.72 million from $20.92 million. Operating expenses for the three-month period increased to $102.44 million from $88.16 million in the comparable quarter of fiscal 2008.
For the nine-month period, net income improved to $41.34 million or $0.93 per share from $34.42 million or $0.78 per share in fiscal 2008. Sales grew to $1.20 billion from $1.11 billion. Same store sales edged up 0.4%, compared to a slide of 5.5% last year.
Looking ahead to fiscal 2009, the company raised its earnings outlook to a range of $0.90 - $1.00 per share from its earlier guidance of $0.70 - $0.80 a share. The company also sees annual comparable store sales growth of around 1%. Analysts are currently looking for earnings of $0.78 per share on revenue of $1.55 billion for the full year.
DSW closed Monday's regular trading hours at $20.54 on the NYSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.