On March 29, footwear retailer DSW
- Revenues increased by 15.9%, helped by an additional week in the fourth quarter of 2006 and a 1% increase in same-store sales on a 13-week basis.
- The company plans to open 30 new DSW stores in fiscal 2007 and estimates same-store sales of 3% to 5%, with diluted earnings per share of $1.63 to $1.68.
- DSW and competitor Payless Shoesource
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(Figures in millions, except per-share data)
Income Statement Highlights
Q4 2006 |
Q4 2005 |
Change |
|
---|---|---|---|
Sales |
$329.1 |
$283.8 |
15.9% |
Net Profit |
$16.6 |
$10.0 |
65.4% |
EPS |
$0.37 |
$0.23 |
60.9% |
Diluted Shares |
44.3 |
44.1 |
0.4% |
Get back to basics with a look at the income statement.
Margin Checkup
Q4 2006 |
Q4 2005 |
Change* |
|
---|---|---|---|
Gross Margin |
27.1% |
25.9% |
1.2 |
Operating Margin |
7.5% |
5.9% |
1.6 |
Net Margin |
5.1% |
3.5% |
1.5 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets |
Q4 2006 |
Q4 2005 |
Change |
---|---|---|---|
Cash + ST Invest. |
$171.9 |
$124.8 |
37.7% |
Accounts Rec. |
$8.3 |
$4.1 |
102.6% |
Inventory |
$237.7 |
$216.7 |
9.7% |
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
---|---|---|---|
Accounts Payable |
$95.0 |
$85.5 |
11.0% |
Learn the ways of the balance sheet.
Cash Flow Highlights
The company did not include a cash flow statement in its press release. I guess investors will have to walk around with only socks on while they wait for the 10-K.
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