A 14 percent rise in sales led to more than double third-quarter earnings for DSW Inc., with results easily surpassing Wall Street’s expectations.
The company said Tuesday it earned $26.6 million, or 60 cents a share, up from $13.2 million, or 30 cents, a year ago. Analysts were expecting earnings per share of 46 cents.
Revenues rose to $444.6 million — versus analyst estimates for $424.6 million — from $391.4 million the prior year. Same-store sales jumped 8.7 percent.
DSW said it expects full-year EPS of 90 cents to $1 with same-store sales up 1 percent. That compares with a prior outlook for EPS of 70 cents to 80 cents on flat comps.