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What: Shares of discount shoe retailer DSW (NYSE:DSW) were flying off the rack today, climbing as much as 11% today on an impressive earnings report.

So what: Adjusted earnings per share of $1.02 topped estimates of $0.89, while revenues improved 11.7% to $592.7 million. Same-store sales grew nicely as well at a 6.3% clip. CEO Mike MacDonald said he was pleased with the quarter, noting that it was the 13th consecutive period the company has shown positive comps and that it added a record 26 stores in the quarter. Management plans to increase store count by about 8% next year, adding 25 to 30 new locations.

Now what: This quarter marks the fifth in a row that the chain has beaten estimates. With an ambitious store expansion plan in place and a cost-efficient business model that avoids the usual hassle of shoe shopping by eliminating salesmen, DSW looks poised to continue delivering market-beating returns for investors. Notably, the company chose not to raise its 2012 guidance, but with 26 stores added last quarter it should cruise past the $3.31 analysts are expecting.

Don't miss the next deal on this company. Add DSW to My Watchlist.

Jeremy Bowman and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.