Footwear and accessories retailer,
) recently announced the opening of two stores in New York City
this fall. DSW already has three stores in the particular city.
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The outlets will be located at 125th Street, Harlem and Bay Plaza
in the Bronx. These two stores are slated to open on Oct 11 and
Oct 31, respectively.
Through these new stores, this Zacks Rank #1 (Buy) stock will
offer a wide variety of designer shoes, sandals and boots for
men, women and kids at a discount. As of Oct 11, 2013, DSW will
be operating 390 stores in 42 states, the District of Columbia
and Puerto Rico.
Of late, DSW has been extensively using its cash flow to expand
throughout the United States. We believe that the company's
aggressive store expansion plan indicates the growing demand and
popularity of its designer shoes and accessories. Moreover, DSW's
wedding shop collection provides exclusive assortments for bridal
parties and special occasions, which distinguishes it from peers
Foot Locker, Inc
J. C. Penney Company Inc.
Apart from offering a wide range of designer shoes, DSW runs a
free, award-winning loyalty program - DSW Rewards. The program,
which issues certificates to customers for future purchases, not
only helps retain customers but attracts new buyers as well.
Recently, DSW reported second-quarter fiscal 2013 results,
wherein earnings increased 47% to 97 cents per share and
surpassed the Zacks Consensus Estimate of 80 cents. The earnings
beat was on the back of prudent inventory management and cost
containment. Net sales rose 9.7% to $562 million, whereas
comparable-store sales increased 4.4%.
Management now expects fiscal 2013 earnings per share of
$3.60-$3.80, up from $3.40-$3.60 forecasted earlier.
Comparable-store sales are projected to increase in the low
single-digit range, while revenues are anticipated to grow by