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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • DSW Profits Rise 9.7% 0 comments
    Nov 26, 2013 10:56 AM | about stocks: DSW

    Originally published at www.seclive.com

    DSW Inc. (DSW) announced its financial results for the third quarter of fiscal year 2013, reporting a 9.7% profit increase. After getting off to a slow start in third quarter, sales increased 6.8% to $633M, missing analyst predictions of $647.6M. The company is forecasting flat same-store sales for the remainder of the year, with same-store sales decreasing 0.7% this reported-on quarter. DSW profits were up from $50.1M and $0.55 per share to $55.0M and $0.60 per share. The company opened 16 new stores this quarter and expects a 4% to 5% increase in adjusted sales for the year. CEO Mike MacDonald commented that the company is pleased with the marked improvement in sales and traffic towards the end of the quarter, after getting off to a slow start, and achieved its highest level of profitability.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: DSW
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