COLUMBUS, Ohio, May 8 /PRNewswire-FirstCall/ -- DSW Inc. (NYSE: DSW) today
reported net sales for the quarter ended May 3, 2008 increased 3% to $366.3
million compared with $357.0 million for the quarter ended May 5, 2007. Same
store sales decreased 5.4% for the comparable period versus a decrease of 3.6%
last year.
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2008 Outlook
For the fiscal year ending January 31, 2009, the Company estimates annual
comparable store sales to be in the negative mid-single digits and annual
earnings per diluted share to be in the range of $0.75 to $0.85. This outlook
is updated from the Company's previously announced guidance, issued on March
27, 2008, of negative comparable store sales for the first half of fiscal 2008
and earnings per diluted share for the first half of fiscal 2008 significantly
below the $0.68 per diluted share reported for the first half of fiscal 2007.
About DSW
DSW Inc. is a leading branded footwear specialty retailer that offers a
wide selection of brand name and designer dress, casual and athletic footwear
for women and men. As of May 8, 2008 DSW operated 269 stores in 37 states and
supplied footwear to 384 leased locations (36 for related retailers and 348
for non-related retailers) in the United States. For store locations and
additional information about DSW, visit www.DSWinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
Any statements in this release that are not historical facts, including
the statements made in our "Outlook," are forward-looking statements and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on the Company's
current expectations and involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to be
materially different from any future results, performances or achievements
expressed or implied by the forward-looking statements. These factors
include, but are not limited to: our success in opening and operating new
stores on a timely and profitable basis; maintaining good relationships with
our vendors; our ability to anticipate and respond to fashion trends;
fluctuation of our comparable store sales and quarterly financial performance;
disruption of our distribution operations; our dependence on Retail Ventures,
Inc. for key services; impact of the disposition of a majority interest in
Value City by Retail Ventures on the allocation of expenses pursuant to the
shared services agreement with RVI; failure to retain our key executives or
attract qualified new personnel; our ability to successfully launch an e-
commerce business; our competitiveness with respect to style, price, brand
availability and customer service; declining general economic conditions;
risks inherent to international trade with countries that are major
manufacturers of footwear; liquidity risks related to our investments; and
security risks related to our electronic processing and transmission of
confidential customer information. Additional factors that could cause our
actual results to differ materially from our expectations are described in the
Company's latest annual or quarterly report, as filed with the SEC. All
forward-looking statements speak only as of the time when made. The Company
undertakes no obligation to revise the forward-looking statements included in
this press release to reflect any future events or circumstances.
SOURCE DSW Inc.
