DSW Q2 Profit Rises, Raises Full-year Guidance - Quick Facts

(RTTNews) - DSW Inc. (DSW), a branded footwear and accessories retailer, Tuesday reported an increase in the second-quarter earnings, on higher sales. The company also raised its full-year guidance.

For the three-month period, net income was $33.7 million or $0.73 per share, compared with $29.3 million or $0.65 per share last year.   Adjusting for the results of the company's luxury test and legacy charges from RVI, net income was $44.6 million or $0.97 per share, compared with $30.1 million or $0.66 per share a year ago.

On average, fifteen analysts polled by Thomson Reuters expected earnings per share of $0.80 for the second quarter. Analysts' estimates typically exclude one-time items.

Reported sales increased 9.7 percent to $562 million, from prior year's $512 million. Analysts expected the company to report revenues of $559.69 million for the quarter.

Further, the company said on August 22, it declared a quarterly cash dividend payment of $0.25 per share, payable on September 30 to shareholders of record on September 20.

DSW increased its full-year 2013 earnings to $3.60- $3.80 per share, from previous expectations of $$3.40 to $3.60 per share. Excluding the sales of $32 million from fifty-third week in fiscal 2012, full year revenue growth for fiscal 2013 is expected in the range of 6 percent to 8 percent. Analysts expect the company to report earnings of $3.71 per share.