• Q3 profit doubles to $26.6m
  • Sales climb 13.6% to $444.6m
  • Lifts FY outlook for the year

Branded footwear retailer DSW Inc has lifted its outlook for the year after more than doubling its third quarter profit.

The firm, which operates 306 stores and supplies 356 leased locations, says it now expects full-year earnings per share of $0.90 to $1.00 and same-store sales up 1%.

This betters earlier estimates of $0.70 to $0.80 per share and flat comparable store sales.

"The big turnaround that we experienced in the third quarter was driven by increased footsteps coming through our doors," president and CEO Michael MacDonald told analysts on a conference call today (24 November).

Cooler weather helped drive boot sales, he said, and consumers are feeling more optimistic after the rebound in the financial markets.

"New shoes not only dress up an old outfit, they also lift ones spirits, or at least that's what some of our tween customers have told us," he said.

Net income in the three months to 31 October soared 101.5% to $26.6m or $0.60 per share, up from $13.2m or $0.30 in the same period last year.

Sales climbed 13.6% to $444.6m, up from $391.4m last time, helped by an 8.7% jump in same-store sales.