Posts Tagged ‘DSW’

DSW Inc. (DSW) share prices off on right foot

Tuesday, May 24th, 2011

DSW Inc. (NYSE: DSW) shares gained 17.6% to $50.78 after the shoe retailer boasted a stronger quarterly bottom line. Volume for the stock surmounted 235,000 shares, nosing out a daily average around 223,181.

The Columbus, Ohio-based footwear specialty retailer reported net sales increased 12.0% to $503.6 million from $449.5 million in the first quarter of 2010. Net income was $38.4 million, or $0.85 per diluted share on 45.3 million weighted average shares outstanding.

This included charges associated with the pending merger with Retail Ventures Inc. (NYSE: RVI) that impacted first quarter earnings per diluted share by approximately $0.02. This compares to net income of $30.2 million, or $0.67 per diluted share on 44.8 million weighted average shares outstanding, in the first quarter of 2010.

“We have had a strong start to the year, recording double-digit gains in net sales and comparable sales and a 29% increase in operating profit as compared to the first quarter last year, continuing our stellar performance from 2010,” according to CEO Mike MacDonald.

“We attribute our ongoing strength to the successful execution of our key growth initiatives, and the increasing importance and attachment to the DSW brand by consumers. During the quarter, DSW achieved balanced growth across categories and genders with accessories and men’s leading the way. Our new stores performed well and we were also pleased with the growth in our leased business division, which generated its highest quarterly sales in over four years.”

DSW Inc. is a leading branded footwear specialty retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear for women and men, as well as accessories.

DSW does it, CSCO steady, SMSI slumps

Wednesday, February 9th, 2011

DSW Inc. (NYSE: DSW) shares gained 16.5% to $42.21, on volume of 1.4 million shares, or nearly five times its all-day average, after the shoe seller late Tuesday said it would buy Retail Ventures Inc. (NYSE: RVI) , its largest shareholder, in a merger that DSW said would reduce outstanding shares. RVI shares flew 13.6% to $18.11.

Cisco Systems Inc. (Nasdaq: CSCO) traded in 34.7 million shares Wednesday, hunting down its daily average of 74.1 million. Prices nipped up 0.5% to $22.10. CSCO reports after the bell today.

Smith Micro Software Inc. (Nasdaq: SMSI) shares tumbled 36.5% to $8.29 Wednesday. Volume was 7.3 million shares, towering over a full-day average of 491,000 shares, after the company suspended its new year forecast.