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DSW Q3 sales increased 5.8 percent

By FashionUnited

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REPORT_ DSW reported sales increase of 5.8 percent to 670 million dollars compared to last year's sales of 633 million dollars. Adjusted sales increased 7.2 percent to 670 million dollars compared to last year's sales of 625 million dollars, which excluded sales from the Company's luxury test. Comparable sales increased by 2.6 percent compared to last year's decrease of 0.7 percent.

Commenting on the results, Mike MacDonald, President and Chief Executive Officer said, “We were pleased with the progress we made in the quarter, particularly the improvements in top line performance. Sales in all major categories accelerated compared to first half performance. We are especially encouraged by the performance of women's footwear, which posted its first positive comparable sales increase since the second quarter of 2013. The merchandise initiatives we began to implement at the start of the year are gaining traction.”

Reported sales increased 3.3 percent to 1.86 billion dollars compared to last year's sales of 1.80 billion dollars. Adjusted sales increased 4.3 percent to 1.86 billion dollars compared to last year's sales of 1.78 billion dollars, which excluded sales from the Company's luxury test. Comparable sales decreased by 0.1 percent compared to last year's increase of 0.2 percent.

On November 25, 2014, DSW's Board of Directors declared a quarterly cash dividend payment of 0.1875 dollars per share. The dividend will be paid on December 31, 2014 to shareholders of record at the close of business on December 19, 2014. For the fifty-two week fiscal year ending January 31, 2015, the Company expects adjusted earnings per share to range from 1.55 dollars to 1.65 dollars per share compared to the previous guidance of 1.50 dollars to 1.65 dollars per share. This assumes slightly positive comparable annual sales growth and annual revenue growth in the mid-single digit range.

DSW