DSW returns to same-store sales growth of 6.1 percent

Total revenue at DSW Inc. increased 13.3 percent for the year to February 3, 2018 to 3.2 billion dollars, including 310 million dollars from the acquisitions of the Canadian business and Camuto Group. For the fifty-two week period, the company’s comparable sales increased by 6.1 percent compared to last year's 0.4 percent decrease.

Commenting on the company’s financial update, DSW’s Chief Executive Officer, Roger Rawlins, said in a statement: "Fiscal 2018 was one of the best years in our company's history from a comparable sales and earnings growth standpoint. We crossed the 3 billion dollars revenue threshold for the first time and drove a 6 percent increase in comparable sales."

Reported gross profit for the year, DSW said, as a percent of sales, increased 100 bps due to lower product costs and occupancy leverage. Reported net loss was 20.5 million dollars or 26 cents per diluted share.

Adjusted net income was 134.9 million dollars or 1.66 dollars per diluted share, which included a loss of 12 cents per diluted share from the wind down of operations for the exited businesses. Excluding the additional 53rd week in fiscal 2017, fiscal 2018 adjusted net income grew 14.3 percent and adjusted EPS grew 13.7 percent compared to the prior year.

DSW's board of directors declared a quarterly cash dividend of 25 cents per share to be paid on April 12, 2019 to shareholders of record at the close of business on April 1, 2019.