US: DSW trips as Q1 profit falls 31%
Author: just-style.com | 28 May 2009
Branded footwear retailer DSW Inc has seen its first quarter profit fall 31% on lower sales at its stores.
Profit tumbled to $7.1m from $10.3m last year, the Columbus, Ohio based company said on Wednesday (27 May), while net sales were down 5.3% to $385.8m from $366.3m.
Same store sales fell 4.7% versus a decrease of 5.4% last year.
Looking ahead, the retailer estimates full-year earnings per share will be $0.30 to $0.35 as same-store sales see a mid-single digit decrease.
DSW operates 304 stores and supplies footwear to 363 leased locations in the US.
Sectors: Finance, Footwear, Retail
Companies: DSW
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