DSW increases sales by 9.3% in the first half of t - footwearbiz: Lead

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DSW increases sales by 9.3% in the first half of the year

23/08/2012
US fashion footwear chain DSW (Designer Shoe Warehouse) has reported an increase in sales of 9.3% to just over $1 billion for the first six months of 2012 compared to the same period last year. Its reported net income, $69.2 million in 2012, was down from $101.7 million for the same period last year. The company said the lower profit level was because of the effect on its figures of its acquisition of rival group Retail Ventures Inc (RVI) in May 2011.

On announcing the results, chief executive, Mike MacDonald, said: “During the spring season, we reported solid sales increases across all categories of our business, reflecting our ongoing ability to identify and interpret trends that resonate with our customers. We ended the season with inventory in good shape in terms of level, content and currency. We remain excited about our business as we begin the second half of the year, during which we will open another 27 new stores.”

DSW currently operates 338 stores in 41 states.

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