Shoe retailer DSW backs year profit outlook

Shoe retailer DSW Inc. on Thursday reiterated its outlook for earnings per share and same-store sales for its current fiscal year ending Jan. 31.

The company said it expects earnings of 75 cents to 85 cents per share for the fiscal year.

Analysts forecast 77 cents per share, according to a survey by Thomson Reuters.

The retailer said it expects same-store sales to decline by a percentage in the mid-single digits. Same-store sales, or sales at stores open at least a year, is an important retail performance indicator because it measures sales at existing stores rather than newly opened ones.

Shares of DSW climbed 75 cents, or 5 percent, to $15.70 in premarket activity. The stock has ranged from $10.10 to $31.65 over the past year.