DSW Inc.’s quarterly sales have trumped market expectations, and the firm raised its 2010 earnings outlook again.
The Columbus, Ohio-based retailer said Wednesday its net sales for the third quarter ended Oct. 30 increased 10 percent to $489.3 million, from $444.6 million in the same period a year ago.
Same-store sales jumped 10.1 percent in the quarter, compared with an increase of 8.7 percent last year.
Analysts were looking for revenue of $471.6 million, as polled by Yahoo Finance. Shares of DSW rose 6 percent in morning trading after the firm’s announcement.
DSW now estimates earnings per share for fiscal 2010 to be between $2.20 and $2.30, up from its previous estimate of $1.80 to $1.95.
The firm reports its third-quarter earnings results at the end of this month.