DSW Q1 Profit Up, But Misses View - Quick Facts

(RTTNews) - Branded footwear and accessories retailer DSW Inc. (DSW) Wednesday reported rise in its first-quarter profit to $38.6 million or $0.42 per share from $34.5 million or $0.38 per share last year.

Last year's first-quarter profit included a net charge of $11.4 million or $0.12 per share from the company's luxury test. On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

However, quarterly sales were down 0.4 percent to $599 million from $601 million in the year-ago period. Analysts estimated revenues of $622.33 million for the quarter.

For the thirteen week period ended May 3, comparable sales decreased by 3.7 percent year-over-year.

Looking ahead, for the fiscal 2015 the group expects adjusted earnings per share to range from $1.45 to $1.60. This assumes low single digit comparable sales decline and adjusted sales growth in the low single digit range. Analysts estimate earnings per share of $1.90 on revenues of $2.50 billion.

Further, the board approved a quarterly cash dividend of $0.1875 per share, to be paid on June 30, 2014 to shareholders of record at the close of business on June 20, 2014.