Footwear retailer DSW
Let's delve a little into the numbers and see what lies ahead for the Ohio-based retailer.
A look at the numbers
Footwear and apparel retailers have had a promising start to 2011. DSW peer Foot Locker
Revenue rose to $503.6 million, up 12% from the year-ago period. The quarter was boosted by a 10.8% rise in comparable-store sales. Earnings clocked in at $38.4 million, up 27%.
The company said successful implementation of key growth initiatives taken last year helped boost its quarterly numbers. It has been looking to expand its business at an enhanced rate and also drive sales through improved merchandising, capitalizing on current trends. It opened seven stores last quarter, giving it 318 locations; the company plans to open another 18 stores this fiscal year.
Perhaps the most significant development was DSW's acquisition of Retail Ventures, formerly the company's largest shareholder.
The Foolish bottom line
With such a strong start to the year in the bag, DSW not surprisingly raised its yearly outlook. It expects earnings in the range of $2.65 to $2.80 per share. It also predicted that same-store sales will increase in the mid-single digits. With further expansion plans in place, the company looks good to carry the strong performance forward. Investors should keep track of DSW's movements by adding it their watchlist. Just click here.
Shubh Datta doesn't own any shares in the companies mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.