DSW Inc announced net income of $22.4 million on net sales of $367.4 million for the thirteen-week quarter ended November 3, 2007, compared with net income of $16.0 million on net sales of $332.2 million for the thirteen-week quarter ended October 28, 2006. Same store sales decreased 3.0% for the comparable thirteen-week period versus an increase of 2.6% last year.
Diluted earnings per share were $0.51 for the third quarter of 2007 compared with $0.36 for the same period last year.
Nine Month Results
Net income was $52.7 million on net sales of $1.07 billion for the thirty- nine week year-to-date period ended November 3, 2007, compared with net income of $48.9 million on net sales of $950.0 million for the thirty-nine week year- to-date period ended October 28, 2006. Same store sales decreased 0.5% for the comparable thirty-nine week period versus an increase of 3.0% last year.
Diluted earnings per share were $1.19 for the nine months ended November 3, 2007, compared with $1.11 for the same period last year.
2007 Outlook
Based on the performance through the third quarter reported today, annual 2007 diluted earnings per share are now estimated to be in the range of $1.24 to $1.29, updated from the Company's previously announced estimate of at least 10% below last year's reported diluted earnings per share of $1.48.
Annual comparable store sales are now estimated to be in the range of flat to down 1% for fiscal 2007, updated from the Company's previously announced estimate of flat to down 2%. The Company is maintaining its plans to open at least 35 new DSW stores during the year. |
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