Footwear and accessories retailer, DSW Inc.DSW is expanding its store base at a rapid pace. The company has announced plans to open two new stores in Tuscaloosa, AL and at the Highland Village, TX. Both the stores are scheduled to open on Oct 8, 2015.
The new Alabama store to be located at Legacy Park on McFarland Boulevard East will cover an area of 15,000 square feet and accommodate 20,000 pairs of men's and women's shoes along with handbags and several accessories comprising wraps, ponchos and fashion socks. On the other hand, the 20,000 square feet Texas store to be opened in The Marketplace at Highland Village on Justin Road will house 23,000 pairs of women's and men's shoes as well as other accessories.
Of late, DSW has been widening its reach throughout the United States. Last month, the company announced the opening of a new store in The Mall at Johnson City on North Roan Street, TN. In August the company announced the opening of four new stores in Oswego, IL; Waco, TX; North Wales, PA and Mount Pleasant, SC.
These stores are part of the company's expansion strategy, outlined in August. DSW intends to open 22 new stores in the fall of 2015. These store openings signify the company's commitment toward strengthening its network with an aim to drive top-line growth. We believe the company's decision to increase its store count is paying off as DSW is witnessing robust sales trends. The company's comparable-store sales in second-quarter 2015 grew by 1.8% in comparison to 0.8% growth registered in the year-ago quarter.
DSW currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in this sector include Foot Locker, Inc. FL , Express Inc. EXPR and American Eagle Outfitters, Inc. AEO . Foot Locker and Express currently sport a Zacks Rank #1 (Strong Buy), whereas American Eagle Outfitters holds a Zacks Rank #2 (Buy).
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