When DSW Inc. (NYSE: DSW) reported its second-quarter financial results before the markets opened on Tuesday, the discount shoe warehouse said that it had $0.63 in earnings per share (EPS) and $795.3 million in revenue. That compares with consensus estimates of $0.46 in EPS and $689.37 million in revenue, as well as the $0.38 per share and $680.41 million posted in same period of last year.
During the latest quarter, comparable sales increased 9.7%, excluding results from the Canada Retail segment.
The board of directors declared a quarterly cash dividend of $0.25 per share. The dividend will be paid on October 5 to shareholders of record at the close of business on September 24.
Looking ahead to the 2018 full year, the company expects to see revenues increasing 6% to 9% and EPS in the range of $1.60 to $1.75. This is an increase from the previous guidance calling for revenues decreasing 1% to 3% and EPS of $1.52 to $1.67.
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Consensus estimates are $1.61 in EPS and $2.8 billion in revenue for the full year.
CEO Roger Rawlins commented:
We are thrilled to report record sales and earnings results this quarter as our merchandise strategy and marketing investment fueled strong customer engagement, traffic and transaction activity, resulting in a 10% comp. The strong results we’ve had this spring demonstrate we’re successfully activating customers and increasing lifetime value. I’m proud of the progress we’re making and with our updated earnings outlook, we look forward to sales reaching $3 billion for the first time in DSW’s history.
Shares of DSW were last seen up over 17% at $31.89, with a consensus analyst price target of $24.91 and a 52-week trading range of $17.75 to $34.02.
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