DSW Q2 sales, earnings beat estimates

Columbus, Ohio -- DSW reported that its second quarter profit rose 1.8%, better than expected, with sales up across all its segments. Profit for the quarter ended Aug. 2 was $34.3 million, up from $33.7 million in the year-earlier period.
Sales rose 4.5% to $587.1 million. Same-store sales increased 0.8%. Both metrics surpassed Wall Street forecasts.
"In the quarter we accomplished our goal of achieving improvement in the underlying sales trends and eliminating any inventory imbalances. All major categories recorded improved sales performance in the second quarter compared to the first quarter. In addition, we were encouraged by the sequential improvement in sales trends as the quarter progressed," said CEO Mike MacDonald.


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