• Home
  • News
  • Business
  • Q1 revenue increases 2.9 percent at DSW

Q1 revenue increases 2.9 percent at DSW

By Prachi Singh

loading...

Scroll down to read more

Business

DSW Inc. recorded total revenue increase of 2.9 percent to 712 million dollars, including 5.6 million dollars from residual Ebuys operations, three months ended May 5, 2018. Comparable sales increased 2.2 percent and reported gross profit, as a percentage of sales, increased by 40 bps due to the wind down of Ebuys.

Hover over the graph to learn more.

Commenting on the first quarter trading, Roger Rawlins, DSW’s Chief Executive Officer said in a press statement: "We are pleased this quarter to report our second consecutive positive comp for DSW Inc. and the fourth positive footwear comp in the DSW brand. With our solid first quarter results, we have delivered a 4 percent revenue increase and a 16 percent earnings increase over the last twelve months, marking an exciting return to growth for the DSW brand."

Reported net income for the quarter was 24.3 million dollars or 0.30 dollar per diluted share, including net after-tax charges totalling 7.2 million dollars, or 0.09 dollar per diluted share, related to the exit of Ebuys, foreign exchange losses and transaction costs related to the acquisition of Town Shoes. Adjusted net income was 31.5 million dollars or 0.39 dollar per diluted share, including a loss of 0.04 dollar per share from residual Ebuys operations, which the company exited at the end of the first quarter.

On May 10, 2018, DSW completed the purchase of its remaining stake in Town Shoes of Canada for 44.7 million Canadian dollars (35 million dollars) and the company appointed William Jordan, chief administrative officer of DSW Inc., as President of Town Shoes.

DSW Inc.'s board of directors declared a quarterly cash dividend of 0.25 dollar per share. Maintaining its outlook for the full year, DSW it continue to expect adjusted earnings in the range of 1.52 dollars to 1.67 dollars per diluted share.

Picture:Facebook/DSW Designer Shoe Warehouse

DSW
MULTIMEDIA