DSW Inc. (NYSE: DSW) announced financial results for the three months ended November 3.
The Columbus, Ohio-based DSW, one of North America's largest designers, producers and retailers of footwear and accessories, announced third quarter revenue increased 17.2% to $833 million; comparable sales increased 7.3%.
Third-quarter Reported EPS was $0.48 per diluted share, including net charges of $0.22 per diluted share from adjusted items. Third-quarter Adjusted EPS was $0.70 per diluted share, including a loss of $0.02 per share from the wind down of operations for the Town Shoes banner.
CEO Roger Rawlins said, "Our investments in merchandising, marketing and talent drove continued top line momentum, with comp growth across all businesses. Additionally, the nationwide roll-out of DSW kids drove the most successful back-to-school season in our history and our recently acquired Canadian business delivered the best results in the last five years.
"Our acquisition of Camuto Group brings powerful design and sourcing capabilities in-house and new streams of revenue from one of the leading lifestyle brands in fashion footwear. Integration efforts are on track, with supply chain and working capital improvements paving the way for a return to profitability.”
Moreover, DSW raised its 2018 guidance for Adjusted EPS for ongoing business to $1.70 to $1.85 per diluted share, including $0.05 to $0.10 per share loss from the Camuto Group acquisition. Guidance excludes year-to-date losses of $0.07 per share from the wind down of operations for business exits
Also, the company declared a quarterly dividend of $0.25 per share.
DSW shares began Tuesday ahead of the game $2.06, or 8.9%, to $25.13
