• Q4 earnings reach US$30.8m
  • Adjusted earnings up 13%
  • Sales grow 11.9%; comparable up 7.6%

US footwear and accessories retailer DSW has booked an increase in fourth-quarter earnings and sales thanks to traffic gains in both store and digital channels.

In the three months to the end of January, net income reached US$30.8m from $28.1m a year earlier. The 2013 figure include a $0.6m net charge related to Retail Ventures Inc and the company's luxury test.

Adjusted net income for the period was up 13% to $30.9m from last year's $28.7m.

Reported sales increased 11.9% to $640m compared to last year's sales of $572m, while comparable sales were up 7.6% versus last year's flat comparable sales.

CEO Mike MacDonald, said: "We were gratified to report strong sales and profit growth in the fourth quarter. Our decisive actions earlier in the year in the areas of leadership, value, and marketing produced strong results. These actions produced the strongest comp performance in almost three years, with traffic gains in both store and digital channels.”

For the full year, the company expects revenue growth of 7% to 8%, with comparable sales growth in the low to mid-single digit range. Earnings per share is expected to range between $1.80 to $1.90, representing around 10% earnings growth at the midpoint of the range.