Columbus, Ohio – DSW Inc. experienced a successful third quarter of fiscal 2013, with net income and total sales both rising from the same period in the previous year. Net income equaled $55 million, up roughly 10% from $50.1 million, while total sales of $633 million were about 7% higher than $593 million.
In one negative result, same-store sales fell 0.7%. However, the retailer opened 16 new stores and launched new omni-channel initiatives.
Mike MacDonald, president and CEO of DSW, credited promotional efforts for helping to drive the company’s overall profitable quarter.
"A solid increase in total sales combined with disciplined execution and inventory management allowed us to increase our adjusted earnings per share by 14%,” said MacDonald. “We achieved our highest level of profitability in the third quarter while navigating through a promotional environment. We were encouraged by the improvement in traffic and sales at the end of the quarter, as the fall selling season got off to a delayed start."