DSW Q3 Jumps

DSW Q3 Jumps
A DSW Shoes location.

Profit jumped 33 percent at DSW Inc. in the third quarter.

For the period ended Oct. 30, the specialty retailer earned a net income of $35.5 million, up a third from $26.6 million in the same period a year ago.

Earnings per share for the quarter were 79 cents, versus 60 cents last year. Analysts were looking for 75 cents a share.

Net sales at DSW totaled $489.3 million in the quarter, up 10 percent from $444.6 million a year ago.

DSW said same store sales rose by 10.1 percent in the quarter. Last year, they advanced 8.7 percent.

The company saw “better-than-expected sales performance for the first three weeks of the fiscal fourth quarter,” it said in a statement, and now estimates an annual comparable store sales increase of approximately 12 percent.

It also expects EPS of approximately $2.30 to $2.40 for fiscal 2010, up from $1.23 in fiscal 2009.

The Columbus, Oh.-based firm’s shares have risen 53 percent in the last three months, and opened 2.6 percent higher on Tuesday morning.

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