) - a leading footwear and accessories retailer - recovered from
the effects of Hurricane Sandy and reopened its Lawrence store.
The company had first opened its Lawrence store in November
Columbus, Ohio-based DSW Inc. operates 364 stores in 41 states
as of December 24, 2012, and supplies footwear to 344 leased
locations in the U.S. It also runs an e-commerce site www.dsw.com
and a mobile website m.dsw.com.
Earlier the company posted better-than-expected fiscal third
quarter 2012 (ended October 27, 2012) financial results. The
quarterly adjusted earnings per share came in at $1.02,
escalating 15.9% from the comparable quarter earnings of 88 cents
in the last year. Moreover, it came substantially ahead of the
Zacks Consensus Estimate of 89 cents a share. Including one-time
items, earnings for the third quarter stood at $1.10 per share
compared with 75 cents in the prior-year quarter.
Net sales for the quarter increased 11.7% year over year to
$592.7 million from $530.7 million in the year-ago quarter, due
to a rise of 6.3% in comparable store sales. The company
experienced growth in its comparable store sales for 13
back-to-back quarters. Moreover, DSW surpassed the Zacks
Consensus Estimate of $588 million.
DSW, which competes with
J. C. Penney Company Inc
), expects adjusted earnings per share to be in the range of
$3.30-$3.40 for fiscal 2012, representing an average increase of
approximately 11.7% from the prior-year earnings of $3.00 per
The company continues to expect comps growth in the
mid-single-digits range for the full year. The guidance so
provided by the company includes the impact of Hurricane
Moreover, management disclosed that the company is planning to
open a total of 39 new stores in the rest of fiscal 2012 and
announced its plan of launching 25-30 new stores in fiscal
DSW currently carries a Zacks #1 Rank, implying a short-term
'Strong Buy' rating on the stock for the next 1-3 months.
DSW INC CL-A (DSW): Free Stock Analysis
PENNEY (JC) INC (JCP): Free Stock Analysis
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